Friday Free-for-All: Fed Reserve Edition
by PubliusToday, in 1913, President Woodrow Wilson signed legislation creating the Federal Reserve. All has been pixie dust and unicorns ever since.
Email this to a friend | Print |
Share on Facebook
| Tweet this
| 
Follow Us on Twitter
Subscribe via RSS
Got a Tip?
128 Comments
15.145 Trillion in debt.
http://www.usdebtclock.org/index.html
Only going up. The only real question is, when will debt bubble burst? It won't be pretty, just as when every previous bubble has popped.
I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.
I wish it were possible to obtain a single amendment to our constitution – taking from the federal government their power of borrowing.
Thomas Jefferson
Ron Paul and Mittens might be the only candidates on the Virgina Republican primary. Michele Bachmann, Jon Huntsman, and Rick Santorum didn't file, and it is unlikely Newt or Perry submitted enough valid signatures.
The Federal Reserve is the most corrupt institution in America…they answer to NO ONE. they have never been audited, and they can pretty much do what they ( private bankers! ) want! This is NOT anything that is regulated by, or needs the permission from, the federal government!!!
SHUT IT DOWN!!!
Looks like great digs for an "Occupy" tent village.
W. Wilson was an evil S.O.B.
That sounds amazingly prescient and wise, but you know, Obama ranks his own accomplishments ahead of any other president with the "possible" exceptions of Johnson, FDR and Lincoln.
Fed money-printing is already out-of-control. It will go parabolic before long.
Might as well headlined it as 'Hyperinflation Edition'.
A nations wealth comes from what it can manufacture.
Not from moving numbers around on a spreadsheet.
<snort> this is easy. Argentina has it figured out…control the paper….
http://hosted.ap.org/dynamic/stories/L/LT_ARGENTI...
/sarc off
(since I never link right, it's on Drudge/AP)
Ah the favorite of all NWO types around the world…because they provide the money they need from America…as the IMF does in Europe!
This organization should have been dissolved years ago…
AN ANIMATED VERSION OF HOW THE FEDERAL RESERVE CAME TO BE…
http://www.youtube.com/watch?v=tGk5ioEXlIM&an...
And they recently lose/stole over $9 trillion (?) of our TARP monies without any explanation on where it went. I will not forget the day that Bilderberg Paulson stood on National TV and when asked what happened…just shrugged his shoulders…SHRUGGED HIS SHOULDERS…AMERICA!
TRILLIONS OF DOLLARS MISSING FROM THE FEDERAL RESERVE…AND THEY DON’T KNOW WHERE IT WENT?
http://www.youtube.com/watch?v=GYNVNhB-m0o&fe...
http://www.patriotactionnetwork.com/profiles/blog...
Yes, thank Woody for signing away the sovereignty of this nation.
The Federal Reserve looks to me like the modern day version of the Biblical tower to the heavens. Yet built of invisible paper money which only the wise can see.
The dollars value has dropped more than 95% since that day…need anything else be said?
"The Congress shall have power …To coin money, ; regulate the value thereof;, and of foreign coin, and fix the standard of weights and measures; "
they have abdicated thier responsibility by creating the federal reserve
Well, the Fed has certainly done a bang up job preventing business boom and bust, recessions, and depressions in it's 99 years of existence.
Yes, he was one of the first progressives to start the US on a down hill slide.
Next time you get an application for a credit card, check out the terms in the fine print. One we had recently from American Express directed us to contact the Federa Reserve's website if we had any questions about credit cards. Why in heaven's name is the Federal Reserve sticking their nose in the credit card business? Their chartered purpose is regulating the monetary supply, not credit.
We went from the gold standard to the silver standard to the promissory note standard to finally the current monopoly money standard.
What could possibly go wrong? At least when the bubble burst we’ll know where to find them all.
The creature from Jekyll island….
The federal reserve, about as Federal as Federal Express,
On Topic, anyone that hasn't seen America, Freedom to Fascism, its pretty good and touches on the Federal Reserve as well as the Income tax system. One hour 49 minutes, if you dont want to deal with your in laws,,,,,,,,, http://www.youtube.com/watch?v=lUpZhhbKUBo
"first by inflation, then by deflation" the middle class will be impoverished. That seems to be coming to fruition. We never should have left the gold standard. Dishonest money corrupts EVERYTHING. Reagan wanted to put us back on the gold standard …. but was convinced by some evil people to not pursue this objective.
shhhhhhh! You are starting to sound like one of those loony Paul supporters, dont you know you will be castigated???
sarc
The political elite in VA like to keep new 'upstarts' from getting on the VA ballot. Sabato writes that VA needs to change their extreme ballot qualification process.
They are part of the 'money changer' group that Jesus threw out of the Temple. We need to throw them out again!
I keep meaning to read that book!
Here's the scam, no money is put into circulation for the interest portion of the loan. It's that simple….whether it's a simple charge card transaction or a Federal Reserve Bond.
That's why interest charges or collections was illegal under the Israelite O.T. Law systems, amongst themselves.
Money is simply a "3rd party" in a two way trade.
Yeah! Wasn't the main selling point when they passed that submission to bondage?
god was right throwing the money changers out of the temple,somehow the cockaroaches have been reincarnated as the fed.reserve,protected by ???(against audits?)love to see a list of those profiting on americans misery!
1913 gave us Woodrow Wilson, the Sixteenth Amendment, the Federal Reserve Bank and America's progressive nanny state push into every region of the world, either through our involvement into foreign affairs(war)or policy-driven agendas euphemistically referred to as 'foreign aid'. Thus began this nation's descent into the hell that would be wrought by not heeding the words of our founders and so suffering the unintended consequences of our 'good intentions'. It could be said this era made America what she is today and, ironically, what will destroy her.
Wow! You heard that too? (Just kidding, of course)
Exactly right, the BEAST WAS BORN
If you are not a Ron Paul fan, you have to at least like his position on the Fed…..
The Fed will take us down at the rate they are going………
Well, there is only one candidate talking about ENDING THE FED, but you are afraid of voting for him because Breitbart told you he was a "racist". Oh yeah, and his foreign policy scares you.
Why are conservatives so afraid of everything?
Please make a logical and reasoned case for voting Paul in the primary. I am a Paul supporter, and with all due respect, your comment detracts from the message of Liberty over Tyranny. Stay with facts, and lay out your case, without sounding like a nut
when people have this type of power they don't just hand it over, it doesn't just "dissolve"…
15 years ago 60% of the people though the fed was government owned and operated.
Ron Paul has dispelled and it is common knowledge the fed is really jp morgan,BoA, goldans sach…..
RON PAUL 2012
Ron Paul has been speaking about the scam the fed has been pulling for 40 years since the day we came off the gold standard. He was the guy saying it back when you got laughed out of the room because the common belief was the the fed was federal agency……
All this printing of currency is destruction by design.
Restore AMERICA NOW
RON PAUL 2012
I've made plenty of logical and reasoned cases for voting for him. All that gets me around here is accusations of being a "liberal", a cult member, and a "Paulbot", even though I am none of those.
You try to make a reasoned case for bringing the troops home, and you get called "soft on foreign policy" and told that your ideas are going to get us killed. No logic at all coming from the ones telling you you're going to get us all killed, by the way. Just accusations and insults. And of course, how can we forget about the great misinformation campaign going on about him, being done even by this site?
After a while, you tend to get a little abrasive.
I understand where you are coming from. I have made my case a few times, and been fairly well received.
My wife thinks I am nut though
Here's some red meat for the caboose. You should sprinkle on a little UN the next time.
I was Jesus who through them out, and it only served to demonstrate his lack vision concerning money. Today millions of his followers earn their living as "money changers", and the world economy is better off for it. Could the great one had an error in judgement?
Monopoly money might be more valuable. There is less of it out there.
“He that goes a borrowing goes a sorrowing.” Ben Franklin
Smart wife.
Dear wildbil,
Trouble with your comment is this: At that time, the Central Bank was the BANK OF THE UNITED STATES, and Pres. Jeffersons comments were IN FAVOR of having that Central Bank.
Libertarians claim to prefer ' private money ', but in this comment, Jefferson argues against it.
Your quote undermines your thesis.
Sincerely,
John Lepant Brighton CO
Dear rckmom,
The Federal Reserve Board of Governors is a Federal Agency and as such is subject to regular audits, as is any other federal agency. They are public records and you can spend the rest of your life reading all of them back to 1913 if you so desire.
Federal Reserve Board of Governors are Presidential appointees, subject to Congressional approval and oversight. They answer to both the President, the Congress and the Courts.
Again, I get confused by Libertarians: the ' audits ' being demanded are the personal, private financial transactions of individual citizens, like you and me, not the capital holdings of Banks or expenditures by the Governors, both of which are already audited and public. To get private records, a Court Order is required. The Federal Reserve cannot legally just ' give out ' private information.
Isn't that what Libertarians want?
Sincerely,
John Lepant Brighton CO
Dear Line,
The Federal Reserve doesn't print money. Currency is printed by the Treasury. Banks must purchase currency at face value from earnings they derive by provide services to their customers. The Treasury earns a small profit from sales of currency to Banks. The Banks then provide the currency to their customers on demand.
Before the Federal Reserve, currency was printed by Banks, and was a SERVICE for which bank customers had to pay.
For example: Take your $500 paycheck to a Bank in 1912, and you would pay the Bank $15 to provide you $485 currency to spend. With the Federal Reserve system, banknotes are now provided free of charge – people didn't like having to pay for currency.
People have to understand that federal agencies and programs come into being to solve real problems, such as I have described here. The Federal Reserve came into being as there were thousands of banks, all issuing their own currencies, and charging their customers, and this caused huge troubles, counterfeiting not the least of it!
If you have what you believe are better solutions, that's fine, but one of the reasons we have a Federal Reserve was the ' out of control ' currency printing by private banks prior to 1913.
Sincerely,
John Lepant Brighton CO
Dear dude,
On the contrary: Based on wages earned from a given hour of work, the dollar is more valuable today. A person working for wages can purchase more from an hours labor today than they could in prior to 1913.
If what you're looking at is Gold, 2 comments; #1, if you have a Gold Hoard, it is more valuable, and, #2, that is because today people have more disposable income, due to my above comment.
By any rational consideration prices are stable. Housing, computers, TVs, home appliances, furnishings, etc., are all less expensive considering hours that must be worked to gain them. This leaves more disposable income for items such as gold jewelry, which were simply unknown to working people in 1912.
Sincerely,
John Lepant Brighton CO
Dear SP,
No, it wasn't. The Federal Reserve doesn't set tax or fiscal policy or make trade policy or regulations at the State, Local or Federal level.
If regulations prevent oil production, oil workers are out of a job, irrespective any Fed action.
Even if you had a ' perfect ' monetary, tax and regulatory policy, and no one gets up in the morning and does a days hard work, there will be no wealth creation. Work is still required.
No one ever promised the Federal Reserve would solve all economic problems. That is a myth.
Sincerely,
John Lepant Brighton CO
Back in 1913, they didn't have aluminum beer cans or tampons. Back then, they didn't have satellite TV or jet airliners. I love the 21st Century, and the liberties that I enjoy living in the USA. We, the people, have survived
tumult and torment before, and we shall do so this time around. If you are unhappy with "America what she is today", then it would be ever so kind of you to simply leave.
The "pixie dust and unicorns" that exist at the FED have gotten us through a couple of World Wars and provided stability in the most insecure of times. In times of crisis, the whole world comes begging to us. Please learn to put your history into its true perspective. He that does not learn from the past is destined to live in the past.
Lep, By "money-printing" I of course mean "money creation". Do you dispute that the Fed creates money?
Would you also dispute that the Fed uses money created in this way, i.e., created out of nothing, to loan to the federal government, for example to buy treasuries? And this created money loaned to the federal government has been used to fund spending on things such as TARP, GM takeover, Solyndra, etc., to name only a few?
If not, would you agree that this type of money-printing debases the currency, adding to inflation? And by inflation, the wealth of citizens are diminished, and in effect transferred indirectly to the federal government? That would be why inflationary money creation is seen as a stealth tax. It would also explain why the purchasing power of the dollar has dropped about 95% since the Fed was created around 1913.
I'm no economist, but using a bit of common sense, my solution would for the government to stop spending beyond its (meaning our) means, which would eliminate the need for the Fed to monetize the debt thru money creation. One of many ways to reduce government spending would be to stop bailing out failed businesses and stop taking over private enterprise. Let failing businesses fail. And how about imposing some type of restraint on Fed money creation? Fed meddling does more harm than good. As only few examples from the last two decades, it contributed to the tech stock bubble and the subsequent housing bubble which nearly vaporized the global economy, which help get Obama elected, and whose aftermath we are still struggling with today….enormous consequences.
Mr. Lepant…do you honestly believe currency valuation is in the hands of the people now?
Tell me please….would Jefferson have advocated for separation from the gold standard?
BTW
Merry Christmas to you and yours
go eat your dog food
Dear LD,
Thank you for the favor of your reply, and
MERRY CHRISTMAS!
Again, not quite true:
The Federal Reserve Board of Governors creates no money.
The Treasury prints currency, which it SELLS to banks.
Banks can extend credit, based on the value of their assets. Therefore,
if what you mean is, can Federal Reserve member banks, which are
privately owned banks who agree to adhere to Federal Reserve
operating standards, expand credit based on capital requirements
set by the Fed, the answer is, yes, they can, but that credit must
be repaid, and the bank must have the assets to extend the credit.
The Fed can't create money out of thin air. Credit comes from assets.
Currency is purchased.
Sincerely,
John Lepant
First of all, I've lived in and traveled the world and I like it here just fine, which doesn't mean I can't critique what I perceive are the failings in our system that have provided the trials and tribulations that many of us, when presented with the chance, would just as soon avoid and as an American consider it my civic and patriotic duty. The 'pixie dust and unicorns' from the FED you refer to that may have contributed to bailing us out also gave us the means to match our ambitions, however misguided, that helped us dig ourselves a hole to begin with. Two wars almost ten years on with nothing to show for them, a housing bust unequaled in our time and a depressed economy funded by fiat dollars comes to mind recently. Hey, I like airplanes, IPods and simple things that make or everyday lives easier but your assertion that the FED is responsible for this, at least in part, is fallacious but I guess my point would be that we, as a nation, haven't learned from history as we always seem to make the same mistakes. Who knows where we'd be if we just lived within our means. Merry Christmas.
According to the Board of Governors, the Federal Reserve is independent within government in that "its monetary policy decisions do not have to be approved by the President or anyone else in the executive or legislative branches of government."
Dear wldbil,
MERRY CHRISTMAS! Thank you for the favor of your reply, and
you should refer your question to a historian.
However, in that quote, taken in context, Pres. Jefferson was
speaking in favor of a Central Bank.
As to monetary value, the consumer chooses whether or not
to purchase. If you don't like the price of a video game, don't
buy it. If you feel it is a good value that will provide hours of
entertainment, by all means, get one. Yes, you do decide
what is the value of your money, which is a nominal representation
of the value of your work. How many hours are you willing
to work to get that videogame?
- John
Lep, Many informed people disagree with your assertions about the Fed not being able to create money out of thin air.
Here’s a quote from a Federal Reserve publication entitled “Putting it Simply”:
"When you or I write a check, there must be sufficient funds in our account to cover the check, but when the Federal Reserve writes a check there is no bank deposit on which that check is drawn. When the Federal Reserve writes a check, it is creating money.
In any case, a Merry Christmas to you as well.
Dear rckmom,
Thank you for the favor of your reply, and
MERRY CHRISTMAS!
Of course: as is the EPA, the FCC, the FTC, the IRS, etc. However, all agencies must conform to laws passed by Congress and signed by the President, and all are subject to Congressional oversight.
And, the Congress passes their budgets.
NPR doesn't have to get approval from Congress or the President for programming. They are subject to oversight.
Congress just overturned the EPA ruling on incandescent lightbulbs, as one example.
Sincerely,
John
Dear LD,
But they still have to meet capital requirements. No capital, no credit!
Sincerely,
John
Sorry I reject your premise. That was not what was referenced above.
"No one ever promised the Federal Reserve would solve all economic problems."
What was referenced was the selling point. A large selling point for the federal reserve is it would balance out severe market panics, and prevent major losses.
The opposite is true, market crash after market crash, wealth transfer after wealth transfer, the FED has been a vehicle for Bankers to live of the fat of the land. The constitutionality of which is a question at best.
You are absolutely correct in your assertion that no wealth is created without WORK,
FEDERAL RESERVE=SLAVE OWNER
American Citizen=SLAVE
You can try to paint it with a lot of pretty colors, but it is what it is. ONE BIG PAPER CHASE,
a piece of paper backed by a bank that no one knows whether or not they have the collateral to cover. The good news is, it cant go on forever.
The real problem is, there are other countries relying on bunk paper to bail out their economies.
they created the fed on the back of the 1907 bank run panic which has orchestrated by the banks themselves.
The federal reserve prints money(debt) out of thinnnn air and then charges US interest on it.
I can cut over 1/3 of of the debt and buy US some breathing room– Nationalize the FED Forgive the 6trillion we 'owe' them dismantle and replace.
John in my humble opinion………. I don't believe Jefferson had the autonomous, secretive, and largley off shore owned Federal Rerserve Bank in mind when he made that famous statement…..
As to monitary value… I believe you are correct to a point…..(at the turn of the the twenieth century, you could buy two high end suits with a five dollar gold piece…today the same amount will by you those same suits)…. Tthe problem is when money or assets are held in investments….
Inflation is a tax that hits us all…..The worst hurt are those who can least afford it……
The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation.
Vladimir Lenin
Merry Christmas agent 523! ; ) May good fortune visit you frequently in the New Year…
.
Written of course when Jefferson was deep in debt and facing foreclosure.
He had no problem borrowing the money, but he felt put upon when required to repay it.
With that context, his complaints about bankers and banking impress me about as much as the complaints of the OWS crowd regarding their college loans.
Actually, with the exception of the Great Depression, which was driven almost exclusively by the FDR administration policies, and the current Great Recession, which is being driven almost exclusively by the Obama administration policies, since the establishment of the Federal Reserve booms have lasted longer and busts, recessions, and depressions, have been shorter, than they were before.
That's a pretty good track record when you get past a reflexive ideological distrust of the mechanism.
Yes, amongst themselves.
Not with respect to outsiders, who could be charged any interest they would agree to.
Likewise it was forbidden to mortgage a homestead for more than six years.
Are you suggesting it would be best if we prohibited foreclosing on mortgages, or even entering into mortgages, for more than six years now?
That would be a great way to eliminate the American economy.
Dollar Value Against the CPI – From 1776 to 1912 (136 years and remember the Federal Reserve came into being in 1913) the value of the USD relative to the CPI (Consumer Price Index) increased by 11%. The dollar got stronger. A wheel for a wagon in 1912 cost 11% less than it cost in 1776. Imagine that. Foreign to us in this day and age. Thomas Jefferson paid roughly the same for a loaf of bread as did Abraham Lincoln and as did J.P. Morgan; well as time rolled on they paid a little less. Imagine that.
Along Comes the Federal Reserve Bank – Their purpose was to stabilize prices, well they said that anyway. From 1913 to 2008 the value of the dollar decreased by 95%. A dollar could buy 95% fewer goods in 2008 than in 1913. Today you would need to pay 20 times more for the same loaf of bread.
The Federal Reserve needs to be declared to be a scam similar to the ones the SEC, FTC, FBI, Justice department and the Attorney Generals prosecute daily. Their assets need to be confiscated. They need prison time. The debts to the Fed need to be null and void. The banks will then collapse so the USA could do what the USSR did and that was just grant the deeds to the occupants for their houses since Fannie and Freddy will be dead too. Heck you paid to keep this Fed monster going, you deserve something back.
The systematic inflation purposely created by the Federal Reserve silently robs the average American of their standard of living. The government began keeping official track of inflation in 1913, the year the Federal Reserve was created. The consumer price index (CPI) on January 1, 1914 was 10.0. The CPI on January 1, 2009 was 211.1. This means that a man’s suit that cost $10 in 1913 would cost $211 today, a 2,111 percent increase in 96 years. This is a 95 percent loss in purchasing power of the dollar.
inflation is CREATED BY the Federal Reserve…print all that money and its worth less…and lesss…and lessss…every time….
wake up
Hey wldbil…Have a Merry Christmas to you, your family, and everyone on this thread.
he was rather estute at seeing the future,those that worshipped the golden calf are now the money changers(the fed), "ringle ringle coins when they jingle, make a lovely sound", is their theme song,all greedy bastards who worship the dollar,with no concern for others.
Dear dude,
It requires fewer
worked hours to purchase
that loaf of bread today.
Sincerely,
John
Dear SubVert,
We're back to that ' audit ' thing:
( LONG SIGH. )
All Federal Reserve member Banks are audited. They
can't offer credit without capital.
Not trying to paint pretty colors, just pointing out that the
Federal Reserve system is, a system. Have ideas
for improvements, fine, but please offer practical
alternatives.
If you believe what you post, why not start a Bank and
become a Federal Reserve member Bank? Many
Fed Banks have quite modest capital, just a few
million dollars. What determines whether or not they
may become Federal Reserve member banks isn't
size, it's operating standards, which are very high.
Sincerely,
John
Dear ZMB,
Federal Reserve member Banks are privately owned. The
shareholders are citizens like you and I investing their
401Ks, savings or retirement funds. Insurance firms.
Annuities.
You propose stealing money lent in good faith by honest
people.
- John
Inflation is created by an expansion of the money supply.
The money supply can be expanded by issuing more money.
The money supply can also be expanded by putting more of a commodity used as money on the market.
The money supply can also be expanded by the economy growing and more people being employed at higher wages.
Inflation existed before the Federal Reserve was created.
Inflation will exist even if the Federal Reserve is eliminated.
The only way to absolutely eliminate inflation is to freeze your economy at a certain point, prohibiting any production, innovation, or accumulation beyond the levels at the moment chosen.
Food for thought. What was the record before the Fed? (Referring to boom and bust cycles).Oh! Don't forget Hoover's actions that contributed to the Great Depression.
Well, being lazy and just using wikipedia's charts from the National Bureau of Economic Research for reference: http://en.wikipedia.org/wiki/List_of_recessions_i...
Early Era (First and Second National Banks)
9 seperate recessions
~18 years 6 months down
~24 years 6 months up
Free Banking Era
20 separate recessions
~37 years 2 months down
~48 years up
Federal Reserve Era (excluding the Great Depression and Obama Recession)
17 years 9 months down
74 years 9 months up
Great Depression and Obama Recession
6 years 1 month down (according to the chart, add 2 years 6 months if you think things have improved since June 2009)
Comparing on a percentage basis:
Weak Fed Era ~33% down, 66% up
No Fed Era ~43.5% down, 56.5% up
Fed Era ~18.5% down, 71.5% up
Massive Federal Intervention Incidents ~95% down, ~5% up (being generous)
Notes:
1. The early dates are rough approximations. They are likely more favorable, but no hard dates are available.
2. The economy before the Fed era was very colonial, with almost constant room for expansion into new territories. The economy during the Fed era was rather purely internal development with only minor expansion at the beginning, when of course the Great Depression intervened.
Overall though, the raw data is pretty strong in linking growth and stability to the existence of a central bank, provided nobody tries engaging in socialist engineering.
I won't be a debt slave for any banksters.
you have no idea what you are talking about or are intentionally trying mislead people.
FRACTIONAL RESERVE LENDING– you deposit $1 the bank can loan or leverage it 10x. So for every one you deposit the bank can loan ten.
THE REPEAL OF GLASS STEIGEL.– Glass steigel was the 1933 law setting the cap of FRL at 10:1 and separated banks into two groups commercial and investment. Post Glass steigel the two type of banks merged into the too big to fails and set about their schemes. The limit was removed and now the banks can invest 1000:$1 deposited. The leveraged every penny thousands of times and infected he pensions mutual funds ect with the worthless asets that have an n paper value of literally -all 250 trillion.
FED CHAIRMAN GREENSPAN is credited with he successful lobbying to remove the law.
IMPLEMENTATION OF SABANES OXLEY.
THE QUADRILLION DOLLAR DERIVATIVES BUBBLE INFLATION AND MARKET SATURATION.
Now the banks have US held hostage and paying a never ending debt and bail outs to them at the same time plus interest.
Our income tax goes to service the INTEREST PAYMENTS to THE FEDERAL RESERVE.
WAKE UP BEFORE IT IS TOO LATE.
A Merry Christmas and Happy Hanukkah to you BZ….
My understanding of Jefferson has him slightly more altruistic than your comments would indicate…..
Thanks Jackson, and a Merry Christmas to you and yours….
Excellent book…
Merry Christmas to you and yours Deuse
LOL!
The 'joke' is on you beavs…….
Your generation is gonna get the tab when the bartender er bankers announce last call….
Presidents’ deaths and Rothschilds http://www.rense.com/general86/pres.htm
http://tinyurl.com/3vppq8d"
http://tinyurl.com/3l8a5f9"
Mc Kinley http://www.realzionistnews.com/?p=169"
http://www.bloomberg.com/news/2011-12-23/fed-s-on...
Damn, BronxZ! I am awestruck by this.
One good idea of "Pot" Paul…which is thrown in the waste can when he produces so many bad ones!
Crazy “Pot” Paul and just some of his crazy ideas…
http://www.youtube.com/watch?v=LbVwN3dEdU4&fe...
http://www.youtube.com/watch?v=GyPLFKUdhqY&fe...
http://www.youtube.com/watch?v=BDvaTqLlZlA&fe...
HE CANNOT WIN…AGAIN!
HE WILL NOT WIN…AGAIN!
HE SHOULD NOT HAVE RUN…AGAIN!
HE IS NOW TOO OLD AND CANNOT HANDLE WHAT IS ALREADY ON HIS PLATES…HIS COMMENTS!
fractional reserve lending
repeal of glass stiegel
derivatives bubble expansion into most pensions, 401 k ect
250 trillion in debt for worthless assets. impossible to pay back.
TOTAL DEBT BONDAGE.
The federal reserve act was passed as a solution to the panic of 07 which was perpetrated by none other han jp morgan himself…
PROBLEM
REACTION
SOLUTION
hegelian dialectic
So was I when I cross-referenced it.
Of course there are those who refuse to let reality get in their way of their ideology, but with so little rational thought on the Marxist side of the equation some amount of denial is inevitable on the laissez-faire side.
Ultimately it just demonstrates what Adam Smith said about free market capitalism being a great system while capitalists have a tendency to not be great, or even fairly adequate, people.
Credit is part of the money supply, particularly with credit cards.
Unless you are storing physical cash with a company in exchange for a mobile credit line, each and every time you use a credit card or take out a loan you are adding to the circulating money supply. Even just using physical collateral has a net effect of incresing the money in circulation as opposed to the amount of wealth locked into non-liquid assets.
Merry Christmas and Happy Hanukkah to you as well.
Jefferson's views evolved over time, but so did his financial and political status.
What his situation was at a particular time is important in gaining a context for his writings.
Yes, Jefferson gave us a perfectly phrased statement regarding the relationship between rights and the endowing of governments with powers to secure them.
He later also suggested regular bloody revolutions every generation or so just to keep people engaged.
Somewhere between those two his altruism gave way to something considerably darker.
And so again, I take with a considerable dose of salt the complaints against bankers of a man who went bankrupt and had to sell his personal library to Congress to try and stave off total foreclosure. No matter how much I live what he said about that sale, "I cannot live without books", it does not drive me to accept his views on banks.
<DIV>I've been trying to “re-engineer” the Israelite economy, ok…and am not Jewish.</DIV> <DIV></DIV> <DIV>Ok, my opinion thus far is that the Israelites did not buy their land with a mortgage, and of course no interest charges….as you said “Amongst themselvles”</DIV> <DIV></DIV> <DIV>So, it seems that if they wanted to do improvements and needed a loan, they got that, with no interest and had to pay it back within the 6 year time period. Now, if they couldn't pay it back, the debt was discharged.</DIV> <DIV></DIV> <DIV>So, tithes were paid on profits; not on wages. The tithe money went to the Treasury system, The govt was a “church” and “state”….Moses was the Civil Ruler and his brother Aaron was the spiritual leader…</DIV> <DIV></DIV> <DIV>The value of their money was attached to the price of grain, not gold.</DIV> <DIV></DIV> <DIV>I'll speculate and say that land ownership was a guaranteed 50 year lease. A person could do their improvements and create a product to sell. And, they could sub-lease that to another person, who may want to take over the operation..instead of “starting from scratch”.</DIV> <DIV></DIV> <DIV>Loaning money to Outsiders, gentilles; with interest was ok, as the Israelites would end up with the property, goods, assets or future work of the borrower…financial slavery..—
That is a whole lot of speculating that completely bypasses the actual available information.
I suggest you actually use the simple text of the source material rather than try and project assumptions at it and kludge together a system that way.
Am reading von Mises' "Omnipotent Government" and he seems to imply pretty much the same thing. Right now we have an interventionist government and if we don't deal with this then we'll wind up with socialism or some other form of tyranny.
I do wish the Fed would stop printing so much fiat money.
<DIV>It's getting “engineered” on or in a computerized Monopoly game in my spare time. It's not that hard to do.</DIV> <DIV></DIV> <DIV>Remember Lincoln got shot after he created the “Green Back” dollar. He created that money, and didn't use the East Coast Banking Cartel to finance the war debt…with their interest charges?—
So now a banking cartel conspired to kill Lincoln?
No wonder you are incapable of understanding the Mosaic Laws regarding finances.
"If you believe what you post, why not start a Bank and
become a Federal Reserve member Bank? "
Actually I take raw materials and create things that have tangible and real value, rather than hide behind a mountain of laws and regulations to justify my dishonesty. SO I will pass on that.
"We're back to that ' audit ' thing:
( LONG SIGH. ) "
Subtle condescension, condescension all the same. First off, I dont think I mentioned a FED AUDIT, or implied it. You would be absolutely correct in your original post, that the FED does not set the POLICY, and forgive me my remission in neglecting to include the complicit politicians in DC that make it possible for the Fed/Banks deal in fictitious paper transactions like derivatives/credit default swaps and fractional reserve lending.
The only practical alternative I would offer is a firm SEPARATION OF POWERS, between Commerce and STATE. One needs to remove any incentives for further corrupting the currency.
If we really peel back the layers, we will find our currency once backed by gold, is now backed by future tax revenues.
I would also further commend you in making your point with out going ad-hominem, as most folks around here do when they have an opposing view point.
Merry Christmas
You must be logged in to post a comment.