Discussion in 'Economics' started by FireWalker, Jun 25, 2006.
what can i say, i like to contribute
the federal reserve system is working against ordinary americans. isn't this already well in progress?
as long as the middle class aren't literally liquidated along with their assets by the current system, in congress they would have the direct power to elect new representation in their money creation process.
this observation goes over the head of 75% of the readers here.
Kennedy was only months if not weeks away too and then SURPRISE.
BTW, a common misconception that it is the government that prints dollars. It's actually the banks through fractional reserve lending. US government strongly contributes through the money raised in government debt, which always finds itself back into bank deposits.
jackson did rid us of the central bank. wilson was tricked into the return of fed. fed became even stonger with their 29 market crash and depression that followed.
The same nationalized BoE got its ass kicked by George Soros. You telling me nationalizing central banks works?
You have a nationalized central bank, and its influenced by the whims of politicans that don't see further than 2006 Rep or Dem.
Choose the lesser evil .
And besides, nationalized central banks and you'll get more of the money spent on stuff like War on Terror or War on Drugs or War on Poverty or War on ... Nationalized banks often have their money directed towards fulfilling state economic goals.(France, ROK, Russia and on and on)
Decent post, but the question is, do we really want the wild swings that come from governement controlled money supply? I agree with almost everything you said, but I'm not as against the FED as you are.
We have a fiduciary monetary system. The idea isn't to stop inflation, we just need to keep it reasonable. Hence the idea of "sustained" growth. In a fiduciary monetary system inflation isn't a problem. Hyperinflation is a problem. The average consumer doesn't really notice inflation much, but they do get hurt by hyperinflation. We should count our blessings that the FED doesn't simply print money at will to create it. I don't know about you guys but 3-7% annual inflation sounds a lot better than 400%.
I consider myself to be a Jeffersonian Democrat. However, this great philosopher scientist, engineer KNEW SQUAT ABOUT MONEY. On the other hand, the piss ant of a man, Alexander Hamilton, KNEW MONEY! As far as this Rothschild guy I couldn't tell ya nothing about him other than he said that quote. Despite what any of them say the FED is critical to a modern economy as a clearinghouse, a regulatory body, AND macroeconomic monetary policy control. In a fiat system there has to be AN authority. The Fed and it's monetary policy are no more the source of inflation than are Congress, The President, the Treasury, and limited resouces in general.
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