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Guest Post: The 10 Things That Would Be Different If The Federal Reserve Had Never Been Created
Reprtinted From The Economic Collapse
10 Things That Would Be Different If The Federal Reserve Had Never Been Created
The vast majority of Americans, including many of those who believe
that they are "educated" about the Federal Reserve, do not really
understand how the Federal Reserve really makes money for the
international banking elite. Many of those opposed to the Federal
Reserve will point to the record $80.9 billion in profits that the
Federal Reserve made last year as evidence that they are robbing the
American people blind. But then those defending the Federal Reserve
will point out that the Fed returned $78.4 billion to the U.S.
Treasury. As a result, the Fed only made a couple billion dollars last
year. Pretty harmless, eh? Well, actually no. You see, the money that
the Federal Reserve directly makes is not the issue. Rather, the
"magic" of the Federal Reserve system is that it took the power of money
creation away from the U.S. government and gave it to the bankers.
Now, the only way that the U.S. government can inject more money into
the economy is by going into more debt. But when new government debt is
created, the amount of money to pay the interest on that debt is not
also created. In this way, it was intended by the international bankers
that U.S. government debt would expand indefinitely and the U.S. money
supply would also expand indefinitely. In the process, the
international bankers would become insanely wealthy by lending money to
the U.S. government.
Every single year, hundreds of billions of dollars in profits are made lending money to the U.S. government.
But why in the world should the U.S. government be going into debt to anyone?
Why can't the U.S. government just print more money whenever it wants?
Well, that is not the way our system works. The U.S. government has
given the power of money creation over to a consortium of international
private bankers.
Not only is this unconstitutional, but it is also one of the greatest ripoffs in human history.
In 1922, Henry Ford wrote the following....
"The people must be helped to think naturally about
money. They must be told what it is, and what makes it money, and what
are the possible tricks of the present system which put nations and
peoples under control of the few."
It is important to try to understand how the international banking
elite became so fabulously wealthy. One of the primary ways that this
was accomplished was by gaining control over the issuance of national
currencies and by trapping large national governments in colossal debt
spirals.
The U.S. national debt problem simply cannot be fixed under the
current system. U.S. government debt has been mathematically designed
to expand forever. It is a trap from which there is no escape.
Many liberals won't listen because they don't really care about ever
paying off the debt, and most conservatives won't listen because they
are convinced we can solve the national debt problem if we just get a
bunch of "good conservatives" into positions of power, but the truth is
that we have such a horrific debt problem because it was designed to be
this way from the beginning.
So how would America be different if we could go back to 1913 and
keep the Federal Reserve Act from ever being passed? Well, the
following are 10 things that would be different if the Federal Reserve
had never been created....
#1 If the U.S. government had been issuing debt-free
money all this time, the U.S. government could conceivably have a
national debt of zero dollars. Instead, we currently have a national
debt that is over 14 trillion dollars.
#2 If the U.S. government had been issuing debt-free
money all this time, the U.S. government would likely not be spending
one penny on interest payments. Instead, the U.S. government spent over 413 billion dollars
on interest on the national debt during fiscal 2010. This is money
that belonged to U.S. taxpayers that was transferred to the U.S.
government which in turn was transferred to wealthy international
bankers and other foreign governments. It is being projected that the
U.S. government will be paying 900 billion dollars just in interest on the national debt by the year 2019.
#3 If the U.S. government could issue debt-free
money, there would not even have to be a debate about raising "the debt
ceiling", because such a debate would not even be necessary.
#4 If the U.S. government could issue debt-free
money, it is conceivable that we would not even need the IRS. You doubt
this? Well, the truth is that the United States did just fine for well
over a hundred years without a national income tax. But about the same
time the Federal Reserve was created a national income tax was
instituted as well. The whole idea was that the wealth of the American
people would be transferred to the U.S. government by force and then
transferred into the hands of the ultra-wealthy in the form of interest
payments.
#5 If the Federal Reserve did not exist, we would
not be on the verge of national insolvency. The Congressional Budget
Office is projecting that U.S. government debt held by the public will
reach a staggering 716 percent of GDP by the year 2080. Remember when I used the term "debt spiral" earlier? Well, this is what a debt spiral looks like....
#6 If the Federal Reserve did not exist, the big
Wall Street banks would not have such an overwhelming advantage. Most
Americans simply have no idea that over the last several years the
Federal Reserve has been giving gigantic piles of nearly interest-free
money to the big Wall Street banks which they turned right around and
started lending to the federal government at a much higher rate of return.
I don't know about you, but if I was allowed to do that I could make a
whole bunch of money very quickly. In fact, it has come out that the
Federal Reserve made over $9 trillion
in overnight loans to major banks, large financial institutions and
other "friends" during the financial crisis of 2008 and 2009.
#7 If the Federal Reserve did not exist, it is
theoretically conceivable that we would have an economy with little to
no inflation. Of course that would greatly depend on the discipline of
our government officials (which is not very great at this point), but
the sad truth is that our current system is always going to produce
inflation. In fact, the Federal Reserve system was originally designed
to be inflationary. Just check out the inflation chart posted below.
The U.S. never had ongoing problems with inflation before the Fed was
created, but now it is just wildly out of control....
#8 If the Federal Reserve had never been created,
the U.S. dollar would not be a dying currency. Since the Federal
Reserve was created, the U.S. dollar has lost well over 95 percent of
its purchasing power. By constantly inflating the currency, it
transfers financial power away from those already holding the wealth
(the American people) to those that are able to create more currency and
more government debt. Back in 1913, the total U.S. national debt was
just under 3 billion dollars. Today, the U.S. government is spending
approximately 6.85 million dollars per minute, and the U.S. national debt is increasing by over 4 billion dollars per day.
#9 If the Federal Reserve did not exist, we would
not have an unelected, unaccountable "fourth branch of government"
running around that has gotten completely and totally out of control.
Even some members of Congress are now openly complaining about how much
power the Fed has. For example, Ron Paul told MSNBC last year that he
believes that the Federal Reserve is now more powerful than Congress.....
"The regulations should be on the Federal Reserve. We
should have transparency of the Federal Reserve. They can create
trillions of dollars to bail out their friends, and we don’t even have
any transparency of this. They’re more powerful than the Congress."
#10 If the Federal Reserve had never been created,
the American people would be much more free. We would not be enslaved
to this horrific national debt. Our politicians would not have to run
around the globe begging people to lend us money. Representatives that
we directly elect would be the ones setting national monetary policy.
Our politicians would be much less under the influence of the
international banking elite. We would not be at the mercy of the
financial bubbles that the Fed has constantly been creating.
There is a reason why so many of the most prominent politicians from
the early years of the United States were so passionately against a
central bank. The following is a February 1834 quote by President Andrew Jackson about the evils of central banking....
I too have been a close observer of the doings of the
Bank of the United States. I have had men watching you for a long time,
and am convinced that you have used the funds of the bank to speculate
in the breadstuffs of the country. When you won, you divided the
profits amongst you, and when you lost, you charged it to the Bank. You
tell me that if I take the deposits from the Bank and annul its
charter I shall ruin ten thousand families. That may be true,
gentlemen, but that is your sin! Should I let you go on, you will ruin
fifty thousand families, and that would be my sin! You are a den of vipers and thieves. I have determined to rout you out and, by the Eternal, (bringing his fist down on the table) I will rout you out.
But we didn't listen to men like Andrew Jackson.
We allowed the Federal Reserve to be created in 1913 and we have
allowed it to develop into an absolute monstrosity over the past
century.
Now we are drowning in debt and we are on the verge of national bankruptcy.
Will the American people wake up before it is too late?
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weimar germany is analogous in that that nation was put
in a financial straight jacket of international design. their economy
and currency was destroyed by international dictates and impossible
demands of their neighbors and the us, and it wasn't the end but a
new beginning. extraction of value by outside "authority" until some
thing else emerged. and that is the system. the bond vigilantes.
extract from a distance with other peoples money. the bailouts
will ultimately be used to strangle the people with their own money.
i think that is how it works. that makes sense if you are a central banker
and especially the fed. to think they are partial to any single nation is
to not understand their private mandate and global presence. imo.
examples in their record regarding investment and operations support this
theme.
nothing personal, just business. they help the people screw themselves and
then recycle what is left for a fee and a claim on the property.
what do you think of a "buy american made" movement?
a few things.
the bankers will possess p.m.s when hyper inflation destroys
various local communities and markets. they will be independently
wealthy with security , out of harms way ( an alternate definition of wealth ).
there is a reason that the congress is populated with the type you do not
trust. they are bought by the bankers and other special interests to exercise
influence with special regard for their special sponsors. all aligned and allied
to the money system as it is, the paradigm, so everything must align with
the fiat dollar, privately created with interest and subject to exogenous, global,
pressures and stresses that reflect back onto our local environment and
render it anachronistic, outdated, inflated and bound by legacy costs: while
the fed and its foreighn operations and international clients, members,
operate globally and can exploit the arbitrage.
i have no faith in their humanity to show mercy to the unemployed
american worker, the devalued retiree or the indebted college graduate
with no job. if the option to maximize profits for member banks
via bailouts, fraud and commodity inflation at the expense of citizens
of the usa and their finances i would expect the fed to engineer that result.
they have the tools to do it because people accept it and prefer it to
actually thinking of what other possibilities could offer. they will take
everything. it is the law written the way they wanted it, for them to do
just what we see.
the inflation, or hyperinflation, coming is not the end, it is the beginning
of something new. they will be positioned, we will not. certainly the
poor will not, those working paycheck to paycheck will not. the indebted
will not be able to reposition themselves financially.
..
the reason congress people get behind bridges to nowhere. not for the
resulting bridge. for the employment of the building of the bridge. for the
contracts to build. for the debt to a lender, bond holder, for a bridge.
the bridge might as well be a pyramid. or a hole in the ground or a staff
of traders or sellers shuffling paper of unknown quality to and fro. as long
as the oil / energy and food keep coming and the waste is properly removed.
throw some big numbers on it, call it gdp, and have a drink because it is all
backed by the taxpayer, the one no one trusts to handle controlling money
repayment / obligations. yet these units are the source of liguidity as the
ones responsible for taking out the loans that are the economy based on debt.
but i digress and ramble....
but , you have to consider the question of nationality. i am all for
one world, love, we are the people .. and imagine there is no heaven etc..
but when it comes to national finances and tax base to back said debt
you might wonder...if the authority that creates the note can capitalize on
variably inflating and deflating international markets and playing them
against each other for its own gain, would they not obviously do that
to the detriment of all the fiat debt slaves that owe them their pounds
of flesh by systemic design as p=p+i resulting in everyone owes them
their interest and TIME. Why? why our taxes are being sent all over the
globe and there is no money for development of projects here, no investment
here in this country on, not bridges, but the future.
the future isinformation centers that are research and production laboritories
and museums of scientific population, alternate energy and agricultural studies and
development. but we would rather cater to the trusted craven paranoids
who fear creating anything other than machines that explode or devise that
deliver or house or transport things that go boom.. and bang.
even in marbury madison i think the decision supports the idea that the constitution
can be changed, and it has been. could be improved to facilitate / exercise control, by
the population of borrowers, over congressional representatives. and over the federal
government itself. so we will see if the states suffer enough then they may
be forced to finally do the right thing and exercise some needed influence. ?
or maybe we just don't really care and will let some "funny talkin' man from iran"
decide our fate.
.
Good Ol' Boy (Gettin' Tough)Steve Earle (on tour) Essential Steve Earle (1993)
http://s0.ilike.com/play#Steve+Earle:Good+Ol%27+Boy+(Gettin%27+Tough):46159:s28358280.8108879.4574388.0.1.81%2Cstd_580c28c8e52bffe4bc9ea4d206473db4
Steve Earle - Guitar Town
http://www.youtube.com/watch?v=otTW0JczoGQ
here this. ...
.
Commodity Inflation: You Ain’t Seen Nothing Yet January 13th, 2011 by Michael Kriegerhttp://maxkeiser.com/2011/01/13/commodity-inflation-you-aint-seen-nothing-yet/
....
"Inflation: There is No Putting this Cat Back in the Bag
Probably the most misleading thing Bernanke said in his sixty minutes interview was that he could snuff out inflation in 15 seconds (this was the most misleading thing not the biggest lie, which goes to his “I’m not printing money” statement). This statement is so misleading because it is true he can do what he says but he never will because at this point the effect of raising rates or tightening credit would immediately bankrupt every single part of the gigantic TBTF banker run ponzi scheme also known as the global economy. The world’s Western governments are loaded with more debt that before the crisis and many of these including the U.S. and Japan could not handle even a moderate increase in interest rates let alone what Volcker had to do in order to end the inflation of the 1970’s. Think about it. Other nations own our debt and currency in the form of their FX reserves. China just came out with its latest FX figures and guess what? You go it, a new record! $2.85 trillion to be exact, which is up 19% year-over-year. I want to reiterate a point I made earlier in the year on this. With their FX reserves up 19% year-over-year they needed to boost gold reserves 19% just to keep their puny 1.6% of gold at a steady percentage. If they actually want to increase the share, which they do, they need to buy far more. This goes for every other nation as well since FX reserves have been exploding across the emerging world. "
...
And? Bernanke could stop the growth of money supply tomorrow if he wanted (problem is, right now he thinks printing more money is stimulating us back to health). It's true that he couldn't immediately arrest the growth in prices, since prices significantly lag money supply.
The Bernank serves himself and his masters, and they ain't us.
"He genuinely believes what he's doing right now is the right idea"
I gunuinely believe you have been duped...anybody from Princeton Harverd or Yale is an enemy of the people-period.
oops dupe.. some music !
[KR112] Keiser Report with Steve Keen – Schizo-Psycho-Bermudaflation! January 13th, 2011 by stacyherberthttp://maxkeiser.com/2011/01/13/kr112-keiser-report-with-steve-keen-schizo-psycho-bermudaflation/
.
http://maxkeiser.com/2011/01/13/lloyd-blankfein-raps-and-dances-to-brookly-funk-essentials-got-cash/
The vast majority of Americans, including many of those who believe that they are "educated" about the Federal Reserve, do not really understand how the Federal Reserve really makes money for the international banking elite.
Pot calling kettle black I think, this article shows little understanding, to wit;
Rather, the "magic" of the Federal Reserve system is that it took the power of money creation away from the U.S. government and gave it to the bankers.
Bullshit, until 2008 the 'assets' of the Federal Reseve were almost exclusively UST's, thus the Fed was/is monetising government debt, the 'power of money creation' is very much in the hands of the government.
And strictly speaking, what the Fed creates is not money but debt. Only the government has the power to 'turn' debt into money through legal tender.
No, prior to the creation of the Fed the US government could not 'create' money, because gold was money. Yes, the Government could print notes, but they were backed by gold - this is not the same thing as 'money creation'.
As for
...until 2008 the 'assets' of the Federal Reseve were almost exclusively UST's, thus the Fed was/is monetising government debt, the 'power of money creation' is very much in the hands of the government...
The Fed's purchasing of Treasuries is the method new currency is created, because the currency the Fed uses to buy the US Government's debt is created ex nihilo. So, yes, without government borrowing, the 'money creation' would not have occured - but it occured through the Fed, nonetheless.
This was the last paragraph of my post;
And strictly speaking, what the Fed creates is not money but debt. Only the government has the power to 'turn' debt into money through legal tender.
So, yes, without government borrowing, the 'money creation' would not have occured
You said it. Saying that the Fed creates currency by purchasing Treasuries but it is not in the hands of the government is splitting hairs. The dollar is the treasury bond.
I have read a lot of hokum here.
If you want to know how the Fed really came into existance read this... The story is a hell of a lot more convoluted and interesting than most realize.
'Origins Of The Federal Reserve' Murray Rothbard
http://www.lewrockwell.com/rothbard/rothbard207.html
@ link, and thanks for the link
keywords: "elite's drive for a central bank."
the levers of power are at once created for "the people" but are
never available for the people, only for the elites. it takes a lot of
fraud to pull this off and tremendous apathy and confusion, ubiquitous.
.
"To achieve a regime of big government and government control, power elites cannot achieve their goal of privilege through statism without the vital legitimizing support of the supposedly disinterested experts and the professoriate. To achieve the Leviathan State, interests seeking special privilege and intellectuals offering scholarship and ideology must work hand in hand."
.
this structure is threatened by the new technology and the resulting new
man and mind of man yet there is the next structural level of globalization to be
achieved. between anarchism and one world government we have this
"leviathan" federal government structure now naked and being attacked
and eaten from all sides, top to bottom, domestic and otherwise. a source of
universal shame you can read about in the daily papers. the main predator
of the whale of an organization being the federal reserve bank. imo
i hope to one day finish reading this link. sheesh
A banking license also gives to any bank the right and power to issue money.
The difference is now in that the money are created today by jewish circus: The US Treasure is digitally issuing semi-liquid money as a GOV debt, then FED is digitally accepting it, then the FED is digitally buying it BY ISSUING LIQUID DOLLAR MONEY (starting as pure digital dollars and later also a printed cash dollars) on special "money issuing accounts" in FED Banks (central banks have this type of accounts, commercial banks normally does not), then FED is granting credit to the US economy, COUNTING Treasure obligations as an asset, OR temporarily buying assets (issuing another wave of liquid "cash" money) using Treasure obligations as a collateral, etc.
This is a SECOND digital jewish circus. First circus started 20+ years ago, when the whole economy has been listening to false prophet Alan Greenspan, and when Alan Greenspan allowed total US mortgage CDO madness, when president Clinton, raped by Monica Levinsky, was ready to sign and allow anything sourced from Alan Greenspan. (O-o-p-s, Monica is a ... jew too).
(I use many words "jews" here as my response to rising jewish activity around me and my family recent days).
You're not even worth the effort to junk, Dr Lame.
If the Fed Had Not Been Created
My Bernanke Buck would say US Treasury "Backed by Abe" and be worth a $1... not a nickel (5 cents)...
Tyler: More Economic Collapse guess posts, less Katusa of Casey Research, please...
BTW: Any of you old enough to remember typewriters with a cent symbol key?
¢ will surely be missed.
Great Moments in Federal Reserve History
The Great Depression
"The prohibition of Branch Banking had been a great safeguard against the mammoth Wall Street banks, but its fatal weakness was the need to borrow for the purpose of lending. The freezing of re-discount loans by the Reserve Banks ultimately controlled by the Federal Reserve Board, had put the country banks in the position of being helpless against a 'run' which occurred in practically every case.
Hundreds of small banks, and some large (but none of the largest) banks had closed, never to re-open. The largest banks were relieved of a good deal of competition."
C. H. Douglas, The Brief for the Prosecution pp.31-32
The freezing of re-discount loans by the Reserve Banks ultimately controlled by the Federal Reserve Board, had put the country banks in the position of being helpless against a 'run' which occurred in practically every case.
This is disingenuous, while there may well have been favouritism toward 'mammoth Wall Street banks' by the Fed, the country banks had only themselves to blame if they were illiquid & subject to a 'run'.
It is not possible for a liquid bank, by which I mean a bank with proper earning assets, to suffer bankruptcy.
So then you admit there may have been favouritism toward 'mammoth Wall Street banks'.
Yes
Isn't every fractional reserve bank technically insolvent? They have 9x more loans outstanding than deposits. The loans payable and loans receivable are roughly the same, but the loans payable should be accounted for at lower of cost or market, and the loans payable should be accounted for at the nominal/gross amount.
No, just because they are 'fractional reserve' does not mean they are insolvent. If they have quality earning assets to match their liabilities then they will always find a buyer for these assets if they face redemptions. Matching the maturities of their borrowing & lending is also important. This is the 'art' of banking.
Banks have always monetised debt, that is their whole reason for existence. It all depends on the quality of the debt they hold. The situation is no different for the dollar, being the obligation of the Fed, though few people seem to understand this judging by the gold price in recent weeks.
The United States does not emit bills of credit . They aren't allowed to. The language permitting it was in the wording on the Constitution and specifically removed by vote.
Notes of Debates in the Federal Convention of 1787
by James Madison
Thursday, August 16
http://teachingamericanhistory.org/convention/debates/0816.html#8
Alas though the US does not emit bills of credit. It emits bonds and non-negotiable notes that pass by assignment. The FED emits the bills. The US simply accepts them as valuable . They are a mere endorser.
Love that they put AJ on the $20 bill. Nice little f-you to the people who knew better.
Even worse is Kennedy on the last real Silver coin issued too!
Anyone notice how there have been alot more Trollers/FED Lovers on ZeroHedge during the past week?
Yes, I have noticed that. But there’s (still) a lot of smart fcks here too. Thanks y’all.
One of the best articles on the Fed I've seen. kudos!
Anyone see this shit?
http://www.marketwatch.com/story/geithner-warns-of-future-bailouts-2011-...
R u f'n kidding?? Telegraphing already?
Citigroup said in a statement Thursday that when the financial crisis hit in the fall of 2008, it was “well-capitalized and liquid,” but faced uncertainty resulting from “dysfunctional markets and a declining stock price.
”The government’s investment removed that uncertainty,” the banking giant said.
So now we know that whenever a multinational corporation's stock begins to decline it's the U.S. taxpayer's obligation to prop it back up.
I know a word for this, and it sure isn't Capitalism.
Oh don't worry, that's just little Timmy G threatening to blow up America again if he doesn't get his new debt ceiling.
Just a little Treason. All the kids are doing it these days.
Here's some more tin
Michael "The Situation" Sorrentino *Barry (what's his face?)
Nicole "Snooki" Polizzi *Nancy botox her face?
The Fed is a red herring! We got into this problem because of you and me! The American people in their infinite stupidity sat back and put their civic responsibility on auto-pilot. We fell asleep and stopped being involved. Not holding politicians to be accountable and act like statesmen; instead, we allowed them to wallow in the slop of ego and power.
The American people created this mess. Had they stayed involved and got their information from the politicians' themself instead of from Katie Couric, then we could forge a debate and elect truly qualified individuals. But, alas, we are too far down the charred yellow brick road. Our fate has been sealed and we are ready for a change. Maybe that is what the Mayans had in mind when their calendar ran out of days. Who knows...but one thing we know is that we created this problem, we created the conditions - consumerism running rampant like an alcoholic on a five-day binge.
Cut yours and my great grand dads some slack ...dude.
They didn't have the Internet and Zerohedge to serve up information.
Christ, another Greenbacker!? Why don't you freaks just go away with your insane sovereign currency BS and learn basics about money and what money should do. I cannot believe that you are still given an audience.
http://bit.ly/efMmCV
The Titanic and the Federal Reserve System. The most perfect cover up ever ?
There were a number of powerful men who were NOT in favor of the Federal Reserve System. Benjamin Guggenheim, Isa Strauss and John Jacob Astor opposed the formation of a F.R.S. These men were arguably the richest men in the world in 1912 and stood in the way of the formation of the Federal Reserve System. Guess what all of these 3 men had in common in the way that they lived and died...
I'd give the possibility of this conspiracy a 1 in 1,000,000 chance along with the aliens at roswell.
Kennedy? I'm convinced it was a coverup by the Warren Commission.
I'd give the probability you are a troll of 1 in 1
if everyone is worried with debt vs GDP then the amount of debt doesn't matter.. you just make the dollar more worthless and force more dollars to be paid for crap domestic product.. thus increasing GDP and lowering debt to GDP... voodoo forever
Is this a test or something by Tyler, to see if we can spot the flaw in the writer's logic? Or spot a Greenbacker game?
What difference does it make whether it is Ben or Timmy who's doing the printing? If it's Timmy doing what this writer recommends, the US will do away the pretence of "paying back the debt" and simply print as needed. Monopoly money. Didn't Weimar Republic's central banker do just that?
Sure, but at least they spend money on something (some supposed services), not just fill the pockets of gansters.
Furthermore, the international ganster banksters have been pushing the federal government of the USSA as hard as they could to spend, spend, spend... fight wars... do everything possible to increase the need for borrowing at interest from them.
Without this push, the USA would probably still be on a gold standard, the congress would be constrained by the supply of gold, and things would be much better.
Would we live in paradise? No! But we would not be living in neo-nazi hell either.
Didn't Weimar Republic's central banker do just that?
I doubt it. More likely the Reichsbank did what the Fed & all central banks are doing now - monetising bad debt.
The Reichsbank 'financed' the German government during WW1 & after by making a market for German government bonds, though it's unlikely that the Reichsbank had any real say in the matter. It never would have printed Reichsmarks without 'collateral', it was a prudent bank!
At some point German government bonds lost any pretence of being marketable securities, bank credit is only as good as its assets.
I'm not going to dig it up now but one of Hitler's finance men was a Rhodes Scholar. Hmmm so was Bill Clinton-go figure.
Yeah! And since there are only 2 Rhodes Scholars in the history of the known universe there must be a link.
You're a frakkin' genius.
"If the Federal Reserve did not exist, we would not be on the verge of national insolvency."
Yeah. Your beloved federal government-issued dollar would have a purchasing power about 1/100th of today's FRN.
Would YOU trust a government any more than a private bank to issue paper money? I don't want paper money at all - anyone's paper money!
A kooky idea & a recipe for insane inflation. Let THE MARKET decide what money is.
I agree with the final statement but the rest is a total WTF.
Look...the dollar was around since, say, 1800. For 113 years it was pretty level in value. The US became the richest nation on earth, NO income tax, NO central bank.
Then you would have me believe that since 1913, the system which had shown a LEVEL dollar for over a century would have underperformed the FRN by a factor of .01?
If you believe this then you are stupid. Your claim may possibly be true, but you have no evidence upon which to base it.
BTW, tally sticks worked for centuries. Everything you cretins and your "conventional wisdom" think you know about shit is only about ass backwards. It really actually is almost a 180 from the truth.
What caused the Panic of 1819?
Here's a hint:
http://mises.org/rothbard/panic1819.pdf
This is good stuff but like a great and far too many things in this life the information is next to useless.
The time to know, understand about something this monstrous is BEFORE an invention is permitted to pass on to the masses.
As with the FDA (assuming it carries out its stated purpose) a drug must overcome a great many hurdles before it can be sold and monitoring of the drug after approval must also follow. It can be withdrawn at any time.
The assembly of mortgages into bundles is such a 'drug'. That these poisonous products could be sold in the multi trillions as AAA investments is the achilles heel in our global economy. That my mortgage, if I had one, could be sold off piecemeal, chopped into a hundred pieces, with no one entity being able to be pegged as the 'lender', and then turned into a derivative and no one person or regulatory authority sounding alarm bells is only possible when a whole lot of bribery, fraud and extortion are committed.
And then the travesty of no Attorneys General who now know this and not the slightest effort being made to charge and prosecute those who, at the top, created this monster, is an intentional dagger thrust into heart of our most basic tenet in a democratic republic: The Rule of Law which is only applied to the lowest underling in this galactic scheme, the defaulter on a mortgage while the likes of multimillionaires and billionaires go scott free like Joe Cassano, Dickie Fuld, Chris Cox and other names that will disappear into the past.
Fuck the sheep and America. When they have given up essential liberties for comfort they deserve neither. They are done. They are soulless. They are dead inside. It's time to move out. There's no where left to go except 1984 in the U.S.A....
Money rules, banksters rule, the proles have the power to revolt but they won't. Why save someone who is to lazy or stupid to save themselves?
Is no-one else willing to call out 'Dr(B)Lamer' for his repetitive 'jew-this', or 'jewish-that, or 'jew-whatever'? How do you spell 'A-N-T-I--S-E-M-I-T-E'? (Or 'Fascist' or 'Nazi'?)
The biggest antisemite is Lord Creator now. (Actually, He was the biggest antisemite time to time during the past 3200+ years. Now that time is on again).
Is using a word "jew" prohibited? Really? Where? In USA? On Zerohedge web-site?
Wanna try to suit /prosecute me for the critique? First, you will have to prove that there is no jewish mafia in US finances. Try. Please.
Is saying that biggest financial thief in modern history - B.Madoff - is jew - NOT ALLOWED, not TRUE? How is it possible for 20 years to steal 40B+ money - without the support of jewish relatives in SEC or/and FED - as a gratitude for jewish "charity" to Israel and jewish organizations in USA?
Try to explain it, here. Please.
Your problem you beleive that I "have to be scared" by the word "antisemite", but (being a kind of "lawyer"), I am not. To be "antisemite" is not a crime, to be precise this is an undefined word, and undefined where is the wording border. To be called "antisemite" is not a crime EVEN in modern Israel! Half of any quotes from the Bible can be called "antisemitic" - if you accept the semantics of modern jews. Your real problem is that the modern US law is ... based on Bible, including the New Testament, which modern jews call "antisemitic".
Antipodeus, you got junked because you use terms that are loaded with emotional but irrational meaning. The jews have been hiding behind the illusion of prosecution since the second world war. I used to work for a Jew worth about $350 million, a real estate entrepreneur. He constantly cried poverty, drove a 10 year old Lexus, and dragged a street cart like a bum. It was all an act. This is what's being called out. If someone says anything bad about certain Jews, like the Jews that run the banking sector or Israelis committing war crimes for the sake of Israel's stability and expansion they scream ANTISEMITE!!!!!
Go to the holocost museum in DC and all you see is the plight of the Jews and other groups 70 some odd years ago. No mention of the Nazi tactics they are using on the Palestinians right now.
There's no crime in calling a spade a spade.
Ever seen S.I. Newhouse IV speak on Jamie Johnson's Born Rich? He openly states that the Jews own the majority of the media.
Talk about facts instead of calling names douschebag. Or is name calling all your capable of?
The Jews in Israel are the best at territorial hate. Ever seen how they treat anyone esle on "their" land?
http://www.youtube.com/watch?v=IX9Tk2TMA6Q&feature=related
Not "anti=-semite" it's ANTI-KHAZAR...those Hungarians(Soros,Albright) are as much semitic as I am canine...
Remove the Khazar cancer NOW!!
LOL...everyone's a nazi.
Maybe you should just STFU.
wtf is an antisemite these days? According to the ADL, denial of time off for an unknown jewish holiday is an incident of antisemitism.
Consequently, the word has completely lost meaning.
If you want to "call him out," feel free to do so and get laughed at. Call me a nazi while you're up; I think it's pretty laughable.
Anytime any DWL or minority or jew doesn't get their way, whoever won't cave in to them is a nazi or a racis' or a bigot or something. Every time.
The Federal reserve - an unaudited bank - know of anyother bank with that privilege?
run in secret, owned by banks both domestic and foreign.
able to move markets with front running by it's members as a bonus.
mandate to keep a stable currency which it has managed to devalue by more than 90%
above congress. above the vote of the people
it is a monster and should be killed..a better system would have more transparent operations..but that would remove the ablity of
the elite international money to front run.
in the 1800's it was silver vs gold as the common man saw gold as a rich man's tool-
today the common man is a blood bank for the super elite to drain as they will.
Congress is our hope and they must understand they have the power to remove this monster..
we tea party common men are dumb enough to have that hope.
The Fed and IMF are the head of the international banking cartel that is successfully running the world into the ground. Everything they do is in opposition to the people's needs and rights. The only thing they are good at is chewing "bubble" gum but they cant even pump the bubble and chew gum at the same time so for now they'll continue pumping until it is too late. The IMF has a history of making countries worse as a result of their "bailouts" and go figure the IMF takes money/bailouts from the Fed. End the Fed, end the IMF, and return the power to the people. Politicians are whores, easily bought with funny money. Until the people wake up and get over Left/Right and come to the middle in order to see the truth, there will be no change. MSM tells the sheeple, RoboTrader, HarryWanker, and others what to think and they swallow it whole. It is one thing to sell your soul to the devil for some capital gains, it is another to say it is correct, just, or sound ecnomics. Data manipulation, rules/law changes, weak policy, and bailouts are the norm to control/destroy/bleed out an economy. Debt slaves we have become to fulfill "interest" payments to our rulers. The solution is bankruptcy but unfortunately this is to the detriment of the Fed/IMF and so they will do everything in their power to prevent it as in GM, Greece, Ireland, or Korea in the late 90's (http://findarticles.com/p/articles/mi_qa3827/is_199802/ai_n8793720/). This all has precedent and unfortunately it even takes smart people a minute to wake up from a dream. There is hope in Congress, the Judicial Branch, and for change in general but as reported here yesterday we need real leaders and unfortunately politicians are cheap sluts. How sad is it that Mexico has a 34,000+ casualty war against drugs on behalf of the US and we polarize the nation over a shooting in gun happy AZ? If it had been 6 minorities killed in haste would we have acted the same? Chicago in the spring anyone? That'll make page 17 in your local paper. The only interest our once proud nation has is that of our corporate elite. MSM dumbs it down to football, a nicer American Idol, and improving unemployment, WTF? All is well. The evidence is there for whatever politician, citizen, or foreigner to see whilst we still have internet freedoms. The Fed and IMF make the world an uglier place to live and I for one, don't see the logic in glorifying Loughner's acts all over the news, when our policies murder people every day. And yes, these are our policies because we pay taxes and support this ponzi-military-industrial-corporatist-fascist-banking-regime. It is that simple. It is all smoke and mirrors, slight of hand, misdirection, until the Fed/IMF come to save you on their terms, making creditors whole, because the alternative would have been much worse. People don't want to change, so we won't, until it is too late and we are forced to change. That day is coming but the question is will it be by choice or by force. The Fed and IMF will have us take it by force but we as a nation have the opportunity to take it by choice. Painful restructuring is the only answer but it is better than the alternative of further eroding our freedoms in the name of "econonimic stability" by making our creditors whole. You choose.
END THE FED. Do you really believe that we would be ruled by mongers and money-changers? Consider this, we are no longer an international currency and we trade on the world market as a regular country, NOT the Empire that we believe we are. With the "privately-owned" Federal Reserve, no more Federal than Federal Express, we have allowed the private international bankers to rule over us like serfs. It is time to take back control of the "coining" of OUR money. Those who control the money control the government. Wasn't that a Rothchild saying, Ansel I believe. We the people need to overhaul the entire system. We will survive by our own resources. No more overseas bases, no more world police like actions. Time to take care of Americans, unfortunately, they may be hard to find.
I am reposting this link because many did not see it.
If you don't read this Murray Rothbard essay on how the Fed came to exist then you will remain in ignorance of an important part of American History and especially American Financial History.
It is well worth your time to understand how and why the Fed came to be.
'Origins Of The Federal Reserve' Murray Rothbard
http://www.lewrockwell.com/rothbard/rothbard207.html
look at a graph of inflation adjusted gdp in the US from 1900 onwards and between 1800 and 1900 (when the US was a laissez-faire "utopia") notice how the rate of increase is higher after implementation of major regulating and centralising policies in the 20th century, I'm not drawing any conclusions but what you cannot conclude is that the US was growing faster before such legislation
Whilst the the lack of transparency and private nature of the fed is a worry if we gave all the money printing power to the government then we'll get continuously inflationary governments that get elected by promising this that and the other then print money to pay for it like in the third world, oh wait a sec thats what we've got right now....
"Will the American people wake up before it is too late?"
Answer: No. Well maybe the people will, but the sheeple, no. What is the ratio, 1/20 people to sheeple?
I'm awake... it's too late...
No, seriously, what if we all woke up before it's too late? What if we could do whatever we wanted (burn the Federal reserve, imprison its oficers, a-la the Bastille)? We would face aq generation of the worst poverty this coutry has ever known. I doubt any politcal system other than tyranny would survive in such a dire environment.
Perhaps now it is best to build some personal resiliency, leave the Fed and their baker-buds to revel in their orgy of ecnomic cannibalism, and pray for Planet X to stop its damn lollygagging and get on with the business of global destruction...