The Federal Reserve System - Purposes & Functions

Discussion in 'Economics' started by 2cents, Aug 17, 2006.

  1. where's the disdain pal? u want free AND lawless? absolutely fine by me... i'll just kill u if u screw me, or if its beneficial to me, or even if it amuses me... i suppose u're cool with that, right... we said 'no rules' didn't we?
    :cool:

    but perhaps i am misunderstanding your vision of what 'free markets' means... feel free to explain :D
     
    #41     Aug 24, 2006
  2. First of all, your example of murder would entail you having the ability to kill me without getting killed yourself...either by me during your attempt or by retribution. That alone is a deterrent but that IS NOT what free markets are about.

    A free market is two entities entering into a contractual obligation where they themselves decide on the rules of the contract without any rules being imposed on them by politicians.

    The austrian school of economics doesn't suggest anarchy, just that the role of government should be limited to only protecting property rights.
     
    #42     Aug 24, 2006
  3. deterrent?? look around u perhaps... with that line of thinking u wldn't last very long in a lawless world pal

    what about a president, can he make & break rules, eg rules governing cartels, hoarding, price manipulation etc, rules governing the traded matter/substance etc regardless of who trades it? btw who's the prezo in atlas shrugged, remember? :D who's in charge of the peace of the land that makes free markets possible? does peace require rules (laws)?

    in any case, what you are describing is a 'ruleless' market, nothing to do with 'free'... and i don't see why not a free market for contract killings... particularly since such a mkt has always existed...

    :) your cute
     
    #43     Aug 24, 2006
  4. Do you think that people refrain from committing murder only because it's illegal? You are a moron.

    The corruption in politics comes from mixing it with the power to regulate business. To have a truly free market there must be NO government intervention.

    It's not ruleless...the participants decide on the rules rather than a third party. The 'free' in free market means the freedom to choose for yourself and not have someone else force their choices upon you.

    Yes I'm sure there is a market for contract killings. it exists now with a big government and it would probably also exist with a small government. What's your point?

    Sorry, dude...I like chicks.
     
    #44     Aug 24, 2006
  5. yeah, 2cents veering a little off gender with that cute comment. watch out or the neocons will turn on u dude

    how did we make the jump from dissolving the 'federal' reserve to anarchy?

    unprecedented levels of household and national indebtedness are undeniable threats to global stability. Has nothing to do with lawlessness... promiscuous borrowing is bringing the US closer to unknown dangerous circumstances as a society, not further from
     
    #45     Aug 24, 2006
  6. where did i say that? now i DO know that people left with no choice by smart corner/monopoly type manipulations for instance WILL kill no matter what the law says... now if you say we shldn't legislate on manipulations because they are orchestrated by willing monopolists and they shld be allowed to trade freely and as they see fit, your free to say that :)

    not my definition, sorry... perhaps the nature and relationship of power & rights is not sthg u understand too well pal :) but hey feel free to voice yr opinion, by all means... anarcho-capitalism is a fun school of thought, impractical and destructive but fun!

    there is no 3rd party dude, if C makes peace possible and thereby creates the environment where everybody is able to transact 'freely' and the organization of 'free' flow of goods becomes possible, it doesn't matter whether A & B think of C as a 3rd party. C is the 1st party, regardless. u trade according to and in the manner C allows u to, period...

    now if u want to go to NH http://freestateproject.org/news/ and experience the full libertarian (austrian) model for yrself, feel free... am watching :D :D :D

    just thought u wanted to restrict my rights to enter into a trade with s.o. else, glad to see thats not the case!

    your a tough businessman... how much do u want...
     
    #46     Aug 24, 2006
  7. their already on my case :p i have as much sympathy for them as i do for libertaustrians, and any form of integrism...

    your a bit slow hey :) thats quite alright, just read the party's newsletter http://www.lp.org/lpnews/printer_935.shtml
    http://www.freeliberal.com/archives/001823.html same guy, even more pathetic, which i find 'impressive'!

    agree with that :p pretty pathetic if u ask me :D are u one of them?
     
    #47     Aug 24, 2006
  8. coming back to the subject it is notable that not a single proper argument has been made in this thread for dissolving the Fed...
     
    #48     Aug 24, 2006
  9. though there's a confluence of views on this particular point, the fact is i'm not a libertarian and i really don't know much about them. i'm just asking why you personally equate the lack of a fed with anarchy

    def not. i'm perhaps a pathalogical wealth creator. i'm debt-free and saving, yet the risk-free rate at which i can lend cash to my own govt which oversees the creation of my money doesn't cover the real decline in the purchasing power of my savings by a wide and growing margin. not surprisingly the fed and the congress go to extreme lengths to underreport this discrepancy

    meanwhile, family, friends and neighbors who pursue conventional earning and saving paths are falling behind both their ability to create wealth and collect promised future benefits at an alarming clip.

    the fed creates inflation. vast money gets created then spent, yet most people only lose wealth in the process. explain the leak
     
    #49     Aug 24, 2006
  10. lack of a Central Bank <=> anarcho-capitalism u mean? in pretty much the same way that lack of a common judiciary & set of laws across the land leads to / fosters anarchy, and anarchy thrives upon and only upon such a state of affairs...

    same here, NEVER taken a loan, have always discouraged anybody (who doesn't fully understand the arbitrage, ie a lot of people...) around me to take any loans, whether CC loans or RE loans... if the thread were about that, perhaps u'd surprised...

    in any case, who votes the Debt, Congress or the Fed? http://www.bloomberg.com/apps/news?pid=10000103&sid=aV04.D.whRXc&refer=us

    who originates the Debt, Gvt or the Fed?

    who is pushing loan-type products in your face, the banks, FannieMae, FreddyMac... or the Fed?

    who publishes CPI, PCE etc figures, Gvt or the Fed?

    now as one of the means to detect any potential material discrepancies in macro-data, who sets the financial & regulatory reporting requirements the banks have to abide by, Gvt or the Fed?

    who's obliged the banks to clean up the LTCM mess, their fucking mess, if not the Fed?

    whatever the Fed does with Open Mkt ops and reserves requirement tightening, or flooding the mkt with liquidity post-Internet bubble burst, Enron and 9/11, is aimed at smoothing systemic shocks to the extent possible... namely to MINIMIZE both deflationary & inflationary shocks in the name of price stability... u may find that they are not good at it and its your right... you may also want to believe that they shldn't be attempting to do that and its also yr right... those things get debated ad nauseum by yr elected representatives, the 'thinkers', all the time... while those guys at the Fed, the 'Doers', just go about fulfilling their duties / mandate... providing the rest of us with a wealth of information about the state of the economy, thus leveling the playing field between anarcho-capitalist type large specs, and retail notably...

    i hope you'll spare us any additional conspiracy theories...

    NOW EXPLAIN TO ME WHY U SEEM TO PREFER TO SHOOT THE SHERIFF INSTEAD OF HELPING HOLD THE OBVIOUS RESPONSIBLE PARTIES TO ACCOUNT, IF U ARE NOT ONE OF THEM???
     
    #50     Aug 25, 2006