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Should We End The Fed?
With the market ebullient at the prospect of more "miracles" from Yellen, we thought it worth dusting off the following brief clip discussing what it would mean to "end the Fed." In order to answer this question, we examine countries throughout history that did not have an established central bank. So who performs the functions of a central bank in these countries? Professor White cites private institutions, including clearing house systems, banks, and financial companies, as the main actors in the monetary systems of countries without a central bank. Ultimately, he concludes that the Federal Reserve is not necessary. Evidence shows that nations can survive without a central bank. What the Federal Reserve does well can be done even better by private institutions, and the institution is capable of serious errors.
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The answer is yes, yes we should. With extreme prejudice.
Gas Chambers AND Popcorn?
Mmmmm Numnumnumnum...
Keep the Fed, but ban paper and electronic "money". Then force the Fed to compete in the free market with other currencies. That'll keep 'em busy while we get on with our lives.
I am Chumbawamba.
Keep the Fed but allow competing currencies.
Why should they get golden parachutes?
I would prefer to make them work themselves out of a job AND THEN hang them.
Although I am more of a guillotine man myself.
The cockroach clan deserves no sympathy. Hang the MF’s.
Formerly Hard Core American Dream Supporter Bearing Guy (*whew*) SOLD stock ETFs (tickers) VO and VB today, I also SOLD a large cap mutual fund.
It's very sad that I wanted to sell even more than I have been for so long.
I have lost confidence that the American people can throw off the shackles. I have to look out for No. 1 and Bearing's family.
the dude in the video lost me in the first minute
"a central bank is a government agency ..."
and then
"it regulates commercial banks"
holy crap
and then he went and left out POMO the purchase of MBS and the laundering of drug money
and the creation of self-securitized rehypothecation vehicles
and bail-ins
and currency swaps with other central banks
and leasing gold
Dude, it's an anti-Fed video. It's meant to cater to dummies who wouldn't even notice such a nuance, nor understand it even if explained to them (cognitive dissonance). You should've watched it all the way through.
And to dumb-ass above: you think the Fed with it's piece of shit debt note will be able to compete against substance backed currencies offered by private entitites?
THINK, MAN, THINK.
I am Chumbawamba.
Fair, however, to say this can be done BETTER by PRIVATE institutions? The part the video leaves out, is the FED IS a PRIVATE institution. Pretty important nuance. No?
The job was supposed to done by our HOR. But because our members are so lame, they willingly passed the responsibility to a new entity called the federal reserve bank. So with the fed it takes fewer people to corrupt then, but that doesn't mean that a larger group wouldn't be just as gullible and corrupt, it would just take longer to make decisions and as we can see today, bog down in meaningless tit for tat politics and not here to help our struggling middle class.
yellen was never asked about the end of the FED charter...it is almost like the reptiles do not want the public to know the FED charter is ending...the FED has failed the USA, debased our currency, left us with un payable debt, high unemployment, enabled finace of multiple wars..END IT, Sen Paul wants to hold yellen's confirmation until he gets his audit the fed bill voted on..good luck.
I think you're asking the wrong question. The questions should be 1) how do we end the Fed and 2) how soon can we get it done?
The last time a president tried to end the FED ... ... ...
"Who killed JFK? And why did they do it?"
`
http://stateofthenation2012.com/?p=1296
`
(1)" JFK issued executive order # 11,110 which essentially disempowered the Federal Reserve System. This international crime syndicate is a private banking cartel with no reserves and is not federal, since its owners are more foreign than domestic. Like President Andrew Jackson, he knew the FED had to go if there was to be freedom from permanent debt slavery."
Unfortunaely, Obama is no JFK ! ! !
Yes. Not understanding that the FED is a PRIVATE institution is so important that you know whoever created it is half retarded. There is just no excuse for that from someone who is trying to explain the problems to others.
So maybe the question is, why not end private banking. That way profits from loans would go to pay... I don't know, the debt?
Seems to me the Fed gives the money away, and the banks make profit from it, and Main street pays for all the risk. Maybe the problem isn't the Fed, per se?
To ask that question one hundred years after the criminal act started and this country has been raped is like asking if we should have arrested the arsonist when we saw him throw the match to light the fire in the building. TOO FUCKING LATE NOW !
He lost me after the first sentence..."The Fed is a Federal Agency".
Dude, it's an anti-Fed video. It's meant to cater to dummies who wouldn't even notice such a nuance, nor understand it even if explained to them (cognitive dissonance). You should've watched it all the way through.
Just because it is anti Fed does not make it good. It needs to be accurate. Otherwise the dummies it caters to just become dumber.
I was thinking boiled rope and lampposts. No snacks.
I was present in Minneapolis on 9/2/08 at this event.
http://www.youtube.com/watch?v=rfKSXcme60I
End the FUCKING FED!
The #1 example of a country without a central bank should be the United States circa 1790-1913. No other country grew so fast and created as many inventions as during that period in time.
End the Fed? Yes but...
Its only a tool
Ending the Fed would be cutting off the head of a multi-headed snake.
End fractional reserve banking.
End the TBTF's. End usuary. End investment banking. End money in politics. Start prosecutions.
We had a central bank from 1791 to 1811 and 1816 to 1837.
I think the gov should stay out of it. If a bank tells you they are going to loan out all your money would you use them? If they lie about it and lose your money you get to hang them. Honesty would come back in a big way. The only thing the gov should do is enforce the basic principles of non initiation of violence including theft and fraud. If you allow them to 'regulate' it will be corrupted. Let the true free markets and gallows work it out. Glass Steagall were just chains on a system that shouldn't have existed.
Yeah but you haven't seen the third act of this play............very scary ! @zaphod
The second bank of the united states was killed by Andrew Jackson in 1832. So the timespan is 1832 - 1913.
Too quick.
The Hubris of these people... gunning the S&P 500 to all time highs while Main Street can barely eat without Uncle Sam filling up their EBT.
no, the Fed is a private bank owned by the private banks...
End the Fed?...Then who would help finance financeers, who make a killing financing endless Wars?
That's like asking if we should cure cancer. Ummm....yes.
Cancer employs almost as many people as it kills.
You could say the same thing about the Military Industrial Complex.
Does the federal government employ more people than it helps?
jc
Government spending represents 38% of GDP, consider the impact to the economy if government spending is cut in half.
Just a bit of fun to Central Bankers who have no control on the ag’lows {spelled wrong}. You fucking opened the Pandora’s Box on quants. You have now lost control in managing a fucking simple ledger. I will leave you deciding the disciplinary action on parties responsible.
Let’s revisit the early stages of how to fuck people over by investing into a sound market..
29 Oct 2008
You do realise, they’ll just kill you this next time around? Keep playing your games. Blows kisses! Good Luck..
I am not sure if Hungary is attempting to do this very thing, and if so, whether or not they've succeeded. It's difficult to learn much about the theory of 'independence' of central banking and how that's supposed to work in the first place - independence from whom, for example? Obviously a central bank is not independent of its members or bankster owners, in which case I cannot see the difference between 'independent' and 'unaccountable'. Not sure it even matters in an economy that relies on (or even accepts) government debt-based fiat.
I have been trying to follow up this old article I found from last August, about changes to the Hungarian central bank:
Hungary Sheds Bankers’ Shackles (23 Aug 2013)According to a report on the German-language website “National Journal,” Orbán has now moved to unseat the usurers from their throne. The popular, nationalistic prime minister told the IMF that Hungary neither wants nor needs further “assistance” from that proxy of the Rothschild-owned Federal Reserve Bank. No longer will Hungarians be forced to pay usurious interest to private, unaccountable central bankers. Instead, the Hungarian government has assumed sovereignty over its own currency and now issues money debt free, as it is needed. The results have been nothing short of remarkable. The nation’s economy, formerly staggering under deep indebtedness, has recovered rapidly and by means not seen since National Socialist Germany....
http://americanfreepress.net/?p=12418
Apparently Hungary paid off its IMF loan and then from what I can tell the government took over the central bank. I found these further links but they aren't very informative:
Hungary greenlights controversial central bank merger (17 Sep 2013)Matolcsy said at the time that the principle of keeping several supervisory and regulatory bodies independent of the central bank had been "proven wrong"...
http://www.globalpost.com/dispatch/news/afp/130917/hungary-greenlights-c...
ECB raps Hungary for neglecting central bank independence (9 Oct 2013)The European Central Bank has warned Hungary against tampering with central bank independence and pushed it to take the ECB's opinions more seriously.The ECB has been at loggerheads for some time with the Hungarian government, which has stacked the central bank - the MNB - with its supporters. The ECB shows no sign of backing off...
http://uk.reuters.com/article/2013/10/09/uk-ecb-hungary-centralbank-idUK...
Central bank: Hungarian system “highly stable” (7 Nov 2013)Hungary’s domestic banking system remains “highly stable,” the National Bank of Hungary (MNB) said in a biannual report on Thursday. The MNB staff who authored the Report on Financial Stability said the procyclicality of the financial system has declined further since the previous report was published in April, reflecting base rate cuts and the central bank’s Funding for Growth scheme. The results of stress tests suggest the banking sector's liquidity is adequate, and the decline in the sector's loan-to-deposit ratio to around 110% indicates lower reliance on foreign funds, according to the report...
http://www.bbj.hu/finance/central-bank-hungarian-system-highly-stable_71...
http://realcurrencies.wordpress.com/2013/10/06/hungary-no-debt-free-money/
Great link, my_nym, thanks much! So it looks like while throwing out the IMF and the gov taking back its national bank (although I'm not sure to what degree) are postive steps, yeah, we're still back to the problems of govvy-debt fiat and fractional reserve lending.
I'll paste this excerpt for general information:
There is some sort of nationalist reaction going on in Hungary. The Government, led by Viktor Orban, has paid off the last outstanding 2,2 billion dollar loan to the IMF and kicked them out of the country. There were no mutual pleasantries when the IMF goons left Budapest. This did not amuse his European ‘partners’, as is also the case with his policy of gaining more influence over monetary policy. ‘Independent’ Central Banks are at the core of modern economics and politics. Surely we don’t want the people to know what Central Banks are up to? Let alone decide on monetary policy? Bankers know best.
Another issue is that Orban has made clear Hungary will not be joining the Euro for the time being. A great relief for Hungarians, but the Eurocrats consider this an uncalled for snub. Considering what happened to the Euro hostile Polish leadership only a short while ago, Orban is certainly showing a lot of courage. Taking an independent line while located between the Russia and the EU is a tricky proposition, requiring both balls and dexterity.
However, for the time being the Hungarian Forint is still produced by the Banks, as an interest-bearing debt to them. Until that changes, nothing really does.
From RT Oct. 25
http://www.youtube.com/watch?v=aRqd-pnEf8s
Whole premise of this article is a total waste of time. Bankers would launch thermonuclear war before they allowed the people to abolish the FED. Only way the FED dies is if TPTB replaced it with something worse immediately.
The Fed is NOT a government agency!!!...and this guy has a Ph. D?!!??
If Occupy Wall Street participants had simply spent all its time and energy in 2010-2011 pointing out to the US people, within massive public demonstrations, that the FEDERAL RESERVE is not a US govt entity or authority, but just a private corporate banking cartel that serves the interests of massively criminally corrupt TBTF toxic zombie banks, like JP Morgan and Goldman Sachs, then they might have actually gotten somewhere. Then at least when the fascist police thugs, dressed like darth vader attacked these protesters, the public may have grasped the connection. But the hopeless contradiction of an aimless non-leadership organisation and non-focus, in the name of a decentralization ideal, diffused all of that protest effort, with no trouble at all.
+1. Damn, you beat me to it! I hit the Pause button as soon as I heard this (0:19), and started scrolling down, to see if anyone had picked up on this. Cheers.
The Federal Reserve Board of Governors is a government agency, subject to governmental reporting requirements and FOIA requests. The regional Federal Reserve Banks are private institutions. This distinction allows the charade to be propagated to an unwary public. The New York Federal Reserve bank, probably the most powerful institution in the world, save the Bank of International Settlements, is charged with managing the capital markets and is where the Fed runs its various programs such as TARP, Twist, QE, et al.
It is this distinction that makes it impossible to audit the Federal Reserve Banks short of a Congressional act. According to prolific ZH writer George Washington, the Banks report to the Board of Governors, and those reports and any other documents are protected by private corporation trade secret laws.
This guy seems clueless...the FED is the central bank of the WORLD!!! I guess he's never heard of the "world reserve currency"...
Don't just end it, burn it to the fucking ground with Bernanke, Yellen, Krugman, Greenspan and the CNBC hacks in it.
stick with the plan bitchez!
We either end the FEDs or end our lives.
Tyler, are you responsible for this promoting this dipwad? if so you also don't no dick about the The FED. Nearly everything this guy says is a lie. For example, the FED is NOT, as he says, a federal agency, it is a private entity, owned by shareholder private banks that receive a 6% dividend every year. Secondly, the FED does not issue paper currency, the FED BUYS paper and coins from the treasury and resells to the banks as they require.
Also, no monetary system is stable with banks all over the country issuing their own paper; that may have worked for small colonial states but will never work for a sovereign nation doing business the world over.
This idiot expects a private clearing house to act as lender of last resort??? WHERE are they supposed to get the money???make it up out of thin air as the FED now does - WHAT'S THE DIFFERENCE!!!
Then, as a final insult to knowledge, this shithead blames the FED for the last crisis!!! Not the banks that securitized worthless shit and sold it all over the world or the accumulation of too much debt...
This guy is a raving idiot... but a useful one to those who desire to end something alright... but it's not the FED they wish to end but the U.S. itself. Who's supposed to create money out of nothing when no other entity will lend the U.S. any more money??? The only thing keeping the U.S. solvent is the FED creating credit.
This is serious misinformation. If this is the kind of crap ZH puts out, we must all find a new source of info as we'll know that ZH is but a tool of one faction of the money masters.
The un-Federal no-Reserve Board is a blight on humankind. All its failed fancy theories and failed experiments with sycophant brain dead career politicians in tow remind me of pre-Nazi Germany.
The Fed is the world's worst financial failure ever, along with its bailed out banks. It is the biggest heist in history, shifting wealth from West to East, so that its private shareholders can rule a neo-feudalist world of wage and debt slaves.
They are money grubbing, two faced arrogant filth, and treasonous in every land that succumbs to a central bank, and the machinations of its private shareholders.
Constitutional You say the fed is the world's worst financial failure ever. The criminal cartel would call it a roaring success and a hugh golf clap from the fed's shareholders who have made out like the bandits that they are ! If you are in the club it has served it's masters very well. Muppets would call it a failure but it was not created for their benefit....they are the marks in the ponzi.
After reading your post I can safely say that the guy in the video is not the raving idiot here. You asked who is going to print money out of thin air when no other entity will lend to us, then you went on to say that the fed creating credit is the only thing keeping the U.S solvent. Do you not see the idiocy of this statement? Allow me to point it out to you.,.., if the U.S. were solvent it wouldn't have any problem borrowing from other creditors. The fact that nobody will lend to the insolvent U.S. is the reason the fed had to print.
About the only thing you got right in your blathering is the fact that the fed is a private entity. On the rest, I suggest you do some homework and get back to us.
Uhm, Doctor, perhaps you've become enfeebled by breathing too much either, better lay off the gas for a while.
Everyone here should know that ending the FED is analogous to cutting our own throat. There is a certain segment of the capital machine that would love to see that very thing as a new bunch of suckers is waiting in the wings to become the next host for the bankster parasites. Since the current host (that's us) is just about played out, time to cut them off at the knees making way for the new host for the next 100 years of debt-money enslavment.
Just to make it absolutely clear - Ending the FED ends us, not that that would be a bad thing giving the level of thinking displayed by people such as the good doctor. Those with limited vision and knowledge have allowed the current crop of parasites (bankers and their attendants) to feed off of us, the actual producers, for the last 100 years.
Ending the FED is not the answer... without ending debt-money. Of course no sovereign country needs a central bank, but now that we have one, simply ending it without a proper replacement is foolish, simply setting up another master class to rule over the proles. The only monetary system that answers all the problems created by a bankster class is government issued and spent debt-free money.
Anyone out there trust the current crop of congress critters with the power to spend fiat dollars at will? Didn't think so.
The sad truth is that we can't get there from here. It's not a functioning monetary system we need, it's adults capable off thinking and acting at a functional level. Some, a very few, of our founders had it; but we've mostly lost it over the last hundred years of the 'let george do it' attitude.
Our only hope is to educate those who come after most of us to understand how money actually works so that a parasitic banker class will never again be able to hoodwink an entire people into accepting debt slavery. To help that process, and clear the head of those who are confused, (I'm taking to you Doc) take a look at the following video... it'll take an hour of your time but you'll learn more in that hour than most people learn in a lifetime.
http://www.youtube.com/watch?v=7_yh4-Zi92Q
Most people here have forgotten more about the fed and money creation than you think you know. You rave against the banker class yet you are too ignorant to understand that it is the banker class that owns the fed. You don't grasp how a debt based fiat currency must continue to expand, if it doesn't it will collapse. The system has a built in evil that enslaves the masses with an ever increasing debt load. And if that debt load grows too big then more currency must be printed in order to inflate the debt away. Inflation is one of the most insidious forms of taxation that places the debt on the backs of the poor. We see this playing out in Venezuela right now, and Maduro is blaming the retailers for hiking prices when it's his failed policies coupled with the debt based system that is killing the nation. Make no mistake it's coming this way as well.
Your contradictions and ignorance is stunning. You talk about the founding fathers yet you fail to understand how they wrote a document that gives power to the congress to coin money, not to an illegal privately owned entity. Maybe you should do a little research on past U.S non debt currencies. Then get back with us.
The only thing you have correct here is this "For example, the FED is NOT, as he says, a federal agency, it is a private entity, owned by shareholder private banks that receive a 6% dividend every year." Then you call someone else a raving idiot.
Cough
http://realcurrencies.wordpress.com/2013/10/06/hungary-no-debt-free-money/
when was the fed a public institution;
when it repeatedly financed the great culling of the youth
throughout the 20th century,
turned them into dead and dying, mass murdering know nothings?
90% - 95% of the Federal Reserve Banking (Private) System is controlled by the NY Fed Bank
http://www.bigeye.com/griffin.htm
Plus the Fed's Regional Presidents must be approved by the NY Fed.
So... we're back to a VERY small elite (powerful) group controlling the rest.
And these guys, in turn, are controlled by the hidden, private shareholders who own the controlling shares. In principle, only a handful of (few) people could own and control the whole thing. Scary but true.
here's a few more tasty tidbits:
Fed. Building (33 Liberty) named after Mormon (LDS's) 'Marriner Stoddard Eccles' ( http://en.wikipedia.org/wiki/Marriner_S._Eccles ) was the 7th Chairman (11/15/34- 1/31/48) of the FRB'System. It's all about timing ,and he was a Keynesian loved by FDR and Truman. The Mormon's had a special spot in the Jewish Cartel?
In the mid-19th Century there was the Utal War and United States 'Anti-Mormonism' war-drums were sounding Alarms!!! It was tearing the church apart... they were about to pack-up-- going, 'south-of-the-border! ( http://en.wikipedia.org/wiki/Edmunds_Act ) What's so fascinating about all this-- is the Mormon's were saved by a fledgling bank called Kuhn, Loeb & Co. (est.1867) that financed the fiscally strapped church and helped pay legal fees, etc., etc. ( http://en.wikipedia.org/wiki/Anti_mormonism ), needless to say, it was a favor that could wait until called-in by the Cartel?!?
Note: Kuhn, Loeb & Co. merged with Lehman Brothers 1977
Note2: Timeline 1830- 1900 http://jenniferlake.wordpress.com/timeline-1830-1900/
Ps. Once Great Britain lost its power and the United States became the undisputed 'WORLD' champion, the Rothschild's agents had already made it happened and had already set up permanently. This all happened in 1913 as we're now talking about,...
jmo
Yes and Mitt Romney's grandfather was one of the twelve elders who founded the mormon church. Mitts grandfather was run out of the country down south of the border which is why George Romney (Mitts father) was born in Mexico. George was governor of Michigan I believe and ran for other high office.,too many years ago to remember at the moment.
End the Fed, the international financiers who have no loyalty to any land or people - along with their appointed politicians who take the money and run; exempt themselves from important laws, eg the un-Affordable Care Act to name one which is a gift to the biggest insurance companies. Sheer bloody bare faced corporate fascism.
And end the monarchy, the sneaky, snivelling corruptors who gain most while putting on a glamorous show for low information voters.
I'm going to make this short and sweet.
If you feel uncomfortable asking the posters at Z/H about the Federal Recycler.
Weimar Republic - Wikipedia, the free encyclopedia
An excellent starting point for an idea of what the United States is headed towards...
Yes, Yen. Headed towards and deliberately planned by the same people who ruin every land they dominate by creating boom and bust, so as to run off with as much land, resources and money as they can get away with. Filth. They will do the same to the East.
@ Constitutional .. I read today, that in China you can have a second child. (if you weren't,first born)
Long YUAN!!! Flags of free TRADE a Flying! </sarc>
I'm sure AKAK, a fellow Chinism shitism roadside blobbing destroyer. is lurking? I love AKAKS truthisms !
Hello hello hello is there anybody in there? Just nod if you can hear me, is anyone at home?
Nod ...
- Ben derBanke
The Fed is as Federal as FedEx !!!!!!!
Some people might think FedEx is Federal. You might want to say the Fed is as Federal as Walmart.
Should a bear shit in the woods ?
Fuck all the PHD's at the Fed.
Do we need the Fed? Fuck no.
The Soviet Union's central planners could not price BREAD correctly.
But our Fed thinks that they can correctly price the cost of money, that is the interest rate???!!!!
The price of money can be discovered by free markets, you don't need a fucking Central Bank like the Fed.
Fucking ass holes or fucking criminals.
Of course. But we don't need to actively participate. The Fed is commiting suicide left to its own devices.
"Money is much too serious a matter to be left to the central banks." Clemenceau
Worth watching: https://www.youtube.com/watch?v=HfpO-WBz_mw
It's not that a central bank isn't necessary. Even as White agrees, something has to serve as a central bank, if not, it's a vacuum that always gets filled. The key is to structure one that compliments perfectly a classical gold standard, which is the only means to establish a stable monetary system.
A central bank or reasonable facsimille thereof that historically experienced the greatest level of success was the Suffolk banking system of the New England states from 1816 to 1860, which almost seamlessly complimented a rather primitive classical gold standard; at least as far as the New England states were concerned during a period while the rest of the nation struggled without any check of discipline, flailing from one crisis to the next.
Without going into too much detail here, the hallmark of the Suffolk was not that it was run by economists. In fact it operated to their total exclusion and strictly under the guidance of accountants. In accounting there is no theory, only fact. When regulated by the unique static supply and properties of gold, accounting is just the stabilitating compliment and together, they work almost singularly in harmony.
It is in this environment that savings grow, capital is increased, and investment made on real economic growth.
Remove any leg and the nation falters, undetected at first, but then as the rolling mass gather moss trouble abounds and keeps rolling.
The only stipulation to any central bank is that it must be publically owned and the nations legislature must be the controlling partner. This is exactly what is required by our Constitution, but it is this very power over money that has been in contention since the America was formed as a nation.
Here is the compromise upon which all harm has been inflicted upon America, and this is why there can be no compromise to the Constitution.
www.electanewcongress.com
Quite so. Erudite, and elegantly calling upon the greatest law in the land, the Constitution which has been under constant attack since its inception by foreign money powers who vowed to send those upstart colonialists back to the monarchy.
NO.
All for one. One for all. No surrender. The people must have the controlling power over the issue of currency and how it is spent, and the issue of 'credit' (loans). Then there is personal and professional responsbility, genuine community.
A resounding yes here.
So much power given to a privately owned entity controlled by a few is always a bad idea. To boot, those few are unknown and in the shadows. Which should be the first red flag to anyone paying attention.
Let money types compete among different forms like any other good, service, or commodity does in the FREE market.
The people should choose their store of value, medium of exchange, and unit of account just as they would choose anything else available in the market.
I won't go too much into regulation (a lengthy and contested topic), but at the end of the day smart regulation needs to be in place to prevent abuse of all forms. I realize this is motherhood and apple pie speak, but that's where it must start and the people overseeing those regulations must NEVER be compromised.
Yes!
Si!
Oui!
Da!
Ja!
Hai!
Sim!
Tak!
Haan!
Nai!
Sea!
Ndiyo!
Na'am!
Shi!
yes'm masser
AKAK ? AKAK? AKAK? > Where's my "baby Panda bamboo" PIZZA?
*30 hour delivery policy, or I get your dead {river swine}...
So sorry, the special 'river pork' topping takes at least five days to prepare (the maggots need time to grow to the proper size).
Akak have you noticed the yuanism {midrates} vs the usd ? Lots of roadside shitting going on.
.
Alas, alas,a number of gorges, alas, Chinese citizenist yuanism is currencywise blobbing up.
Daily withdrawal limit examplifies averagely US 'american' citizen ATMs. On a contrary differing foundamentally of Chinese citizenism AnAnonymetric ATMs wanting daily deposit limit with very various consequences.
http://www.liveleak.com/view?i=e09_1363758465&safe_mode=off
That single little fact is a difference.
.
Preparations the quality plentifully offers incongruence with rushed manner hurriedly.
But hey, this gives pizza crustdipping durian sauce betterly time fermentation extravangately.
Bernanke & Yellen, they're just two lost souls swimming in the same fish bowl, year after year. . .
P.F.
Each time I look at a $20 bill, I think of how Andrew Jackson would roll in his grave knowing 'Federal Reserve Note' is printed across the top of his image. I am certain those smug pricks put his portrait there snickering at the irony.
Jackson is owed his due from that "den of vipers and thieves" and it is time he got it....
“The issue which has swept down the centuries and which will have to be fought sooner or later is the people versus the banks.”
Lord Acton (10 January 1834 – 19 June 1902)
Terminate. With extreme prejudice.
Should we end the fed?
I can't believe we even have to ask that question.
First of all the federal reserve is not a government agency, it's a privately held entity with shareholders. And secondly it's primary function is to protect the banks. For cripes sake get it right.
The govt created the Fed and forces us to use its fiat money for one reason:
So politicians and their friends can rob us blind by creating some for themselves and their benefit.
Simple as that.
All the crap about "stimulating the economy," etc. is BS.
China? What a joke.! We buy fwee-Dum paper< > you buy twinkets...
China has been slowly letting the {midrate fix} AKA usd/cny fix appreciate.
China know their export market is doomed! (no mas 10% YoY bullshit)
Lazy topic change; Japan is banging 30-40% depreciation VS the EURO, and China ,Brazil, South Korea, India, aren't going to sit aside while Japan vaporizes the ( ¥ ) ?
Interesting to ask this question after they robbed the middle class, bankrupt the country and lined the pockets of all their Jewish Banking gangster friends. I say we end the whole charade in DC and get rid of the Fed and this clown you call President! Let’s replace it with a government by and for the people rather than a government by and for their own wealth accumulation, power, greed and their pet friend’s projects that will kick them money back while ignoring the people that elected them.
Since this Zero Hedge article was a kind of FLASHBACK, I also repeat a bunch of my bla, bla, blah on this topic here below:
This kind of video is ridiculously superficial by not recognizing that the international bankers are collectively a group of trillionaire mass murderers. IF a series of political miracles occurred so that sufficient politicians survived not being discredited or destroyed by the covert power of the banksters, in order to be able to actually become a serious threat to End the Fed, then one could reasonably expect those behind the Fed would resort to whatever level of false flag attack terrorism would enable the democratic processes to be suspended, to prevent that from being able to happen.
It is ridiculously naive to not address the basic issue that the Fed exists as it does BECAUSE the international banksters are the best organized gang of criminals, that will continue to use bribery, intimidation, and assassination against politicians which become serious threats to the interests of the banksters. Furthermore, all of the standard techniques and levels of responses outlined in books like Confessions of an Economic Hitman, by John Perkins, would surely be used against the USA, IF it went through a sufficient set of political miracles, where enough people woke up to the social fact that their single worst enemy has been the Federal Reserve.
From both the practical and theoretical point of view, it is necessary to understand that MONEY IS MEASUREMENT BACKED BY MURDER. Going backwards to an alleged precious metals standard, or whatever else, does not change that, although those promoting those old-fashioned ideas are relatively popular amongst those who promote that kind of "monetary reform." Going to some other fiat money in which the government manages the amount of the money supply in the public interest, instead of a private central banks manipulating the supply of fiat money for the sake of the interests of the private banks, is another similarly superficial idea, since there is still no overt recognition of the real and central role of the murder system to back up the monetary system.
To be realistic and scientific about these issues, one has to face the social facts that governments are organized crime, controlled by the best organized gangs of criminals, by which methods the debt controls depend on the death controls. The most important of those things, with the greatest leverage during the history of America, was the assassination of politicians that could not be bribed or intimidated to become puppets for the banksters. It was the real job of the bribed and/or intimidated puppet politicians to be the best professional liars, to trick enough of the muppets, enough of time, in order that, after fooling them during the elections, those politicians, who were actually banksters' puppets, would continue to do what the banksters wanted to be done. Obviously the political parties were made up of politicians who were mostly slightly different groups of puppets for the banksters. Given that already established system, there is usually nobody to vote for, except to pick between candidates that are bad, or worse. Those who control the money supply have gained that control primarily through their funding of the political processes, and there still are no practical political ways outside of that problem, that those with the ability to legally make money out of nothing could not be politically competed with by anyone else who can not do that.
Ending the Fed probably can only happen as the manifestation of monetary revolution, which occurs after the established systems continue to become so mad that they destroy themselves, and thus open up some opportunities for some new system to emerge. However, while many people may agree with the basic idea that we SHOULD END THE FED, as I do, there is almost no agreement whatsoever about what system to replace it with. For sure, the deeper radical truth that MONEY IS MEASUREMENT BACKED BY MURDER is deliberately ignored and denied by all those who promote their preferred versions of "monetary reforms," with some degree of public popularity at the present time.
My views is that eventually the Fed will end itself, due to its own madness, as the final failure from too much successful fraud, for too long. However, at that point, I expect that all the various reactionary revolutionaries, or range of goof balls who promote going backwards, according to their own preferred old-fashioned religions or ideologies, will disagree with each other about what should be done to replace the Federal Reserve system. INDEED, this is all actually trillions of times more insane than it has ever been before, since the American Dollar, backed by the American Military, has become the global reserve currency, through a globalized system of electronic fiat money frauds, backed by credible threats from atomic bombs, and so on and so forth.
Thousands of years of the history of Neolithic style of Civilization, as a social pyramid system, which was built by a small group who were the best at being dishonest, and backing that up with violence, controlling a large group who were thereby kept ignorant and afraid, is the real foundation of the Federal Reserve system in the USA today. In my opinion, the vast majority of people who advocate that we should end the Fed do so on the basis of the same old false fundamental dichotomies, and their related impossible ideals, which are practically guaranteed to continue to never work in the real world, but rather actually cause the opposite to happen.
To be both theoretically and practically correct, a new monetary system has to be based on a new murder system. The only actually possible changes would be achieved by some better organized gang of criminals, which could control the government, than the current group of international banksters. To do that best would require greater use of information, and higher consciousness, which was distributed more widely in the population ... However, that appears to be practically impossible within the foreseeable future, due to the ways that the vast majority have been reduced to being Zombie Sheeple, while the banksters are still the most Vicious Wolves.
Most of the people promoting the idea of ending the Fed are a range of Black Sheep, operating within the domain of reactionary revolutionaries, whose solutions are just as much bullshit as the bullshit being promoted by the banksters themselves, if not more so. In theory and practice, political economy is inside human ecology, and the death controls are the necessary central controls to everything else. That is WHY we ended up with the existing systems, where the government is the biggest gang of criminals, controlled by the best organized gang of criminals, through which the murder systems operate upon the basis of the maximum possible deceits, while the monetary systems operate on the basis of the maximum possible frauds. I EMPHASIZE: the Fed represents the best organized gang of criminals, controlling the government, in ways which have privatized the powers of government, so that the private banks are effectively able to direct how the government's powers to rob, and to kill to back up that robbery, are actually used.
The difficulty with ending the Fed is that to do so in a scientifically plausible way would require enough people understanding their society in a sufficiently scientific way, which currently is by far the most unpopular set of ideas, which can be described as the fringe of the fringe of the fringe. Any genuine theory and practice of social change has to change the organized systems of lies, operating the organized systems of lies, which dominate and control the society. That is true both in the short-term, as what it would actually take to defeat the banksters, and is even more true in the longer term, as what it would really take to make and maintain any new king of survivable human ecology, inside of a survivable industrial ecology, inside of a survivable natural ecology. Of course, at the present time, none of those things look probable. Rather, the runaway triumphs of the Federal Reserve Frauds, going madly self-destructive, leaving behind collapses into crazy chaos, within which context any new civilization will have a hard time surviving, or ever even reemerging, seems like by far the most probable future.
The international banksters are in a league of their own. Looking at the practical problem of funding the political processes, there is no other group that enjoys the power to legally make endless money out of nothing, in order to fund anything that they want done. Really, there is nobody else who can compete with the already established and entrenched systems made and maintained by the banksters during the previous Century. Therefore, the ONLY realistic way to imagine ending the Fed is within some future circumstances, AFTER the madness of the Fed has almost destroyed itself, which will then, perhaps, become the situation where a new monetary system might be able to emerge, after genocidal wars and democidal martial law have taken their toll.
Any attempt to change things in order to End the Fed within the established systems has no way to overcome the double-bind paradox Catch 22 problems of how to fund those alternative political movements, in the context where the Fed can make money out of nothing, to pay for anything it wants to pay for, and after a Century of doing that, the friends of the Fed already dominate and control the mass media, and the school systems, etc.. The Fed is the result of the runaway triumph of organized crime, covertly taking over control of the powers of government, and effectively privatizing them. Any attempt to return those powers to the People would have to directly deal with that reality, and should fact the social facts about that situation from the outset. However, nobody that I am aware of that advocates we should End the Fed ever gets within light years of admitting that, and addressing themselves to those social facts, neither in the shorter term, nor much less in the longer term!
While I agree that there is no doubt that the current FED SHOULD BE ENDED, obviously my Fringe Cubed position regarding what that means is so totally unpopular at the present time as to have no realistic chances to be advanced. In general, the paradox continues that ending the Fed would actually mean changing from one system of organized lies, operating organized robberies, to some different system that did that. A more self-conscious ending of the Fed would admit that radical truth about itself. However, the chances of that happening in the foreseeable future are practically zero! Therefore, I REPEAT that the most probable way that the Fed WILL be Ended is that its own madness will destroy itself, thereby opening up new opportunities for other systems of social insanity to assert themselves instead, in the struggle to replace that system with some new one. Given that, I would not necessarily be in such a hurry to end the Fed in that manner.
'a system to replace the FRB's'(?)
Ref: http://jenniferlake.wordpress.com/timeline-1921-1940/
"BIS founded in 1930 (the central bank of Europe's Central Banks)" ...what happens next, and why the pre-consolidation "The USA is declared bankrupt "1933" : FDR Reorganizes (Gold Confiscation[?]"
,...the 1929 stock`market crash begins a 'World-Wide Depression(?)'-- the U.S. Nat'l Income (GDP/GNP) dropped from $81bn/(1929) to $68 bn/(1930) to $53bn/(1931) to $41bn/(1932)
who could have had orchestrated this, and what brought it about was the lack of regulation ie., Glass-Steagall Act et.el,
suggestions? jmo
http://en.wikipedia.org/wiki/Nixon_Shock http://en.wikipedia.org/wiki/Executive_Order_6102
Question: analyze the above, and it's quite simple(?)
"However, while many people may agree with the basic idea that we SHOULD END THE FED, as I do, there is almost no agreement whatsoever about what system to replace it with."
What are you talking about? Listen up OK? I bought a gun today and I did it with silver. No background checks, nothing. It's pretty fucking easy to figure out. Now the gun is "lost" in their system. I might resell it tomorrow for a profit. It was a very simple transaction. We don't need a fucking central bank to conduct business. I traded metal for metal. What we need is sound money because it works.
I too was able to operate outside the law for decades. However, that did not improve the basic problems, but only added to the overall social chaos. What works for individuals to disregard the rule of law does not work for the society as a whole, which thereby has the rule of law destroyed. It is tragedy when the government becomes so criminal that disobeying the legalized lies promoted as the "law" is the best response.
In a nutshell
To end the fed is to then replace the fed with another fed anyway that is you actually do nothing and keep it.
Good stuff!
In another nutshell, to End the Fed without a deeper understanding of what that means is to really to collapse down to chaos, and probably enable something worse than the Fed to emerge (probably in an even more globalized context.)
the fact that this post has any downvotes is a testament to how the collective IQ of the comments sections of ZH has fallen - particularly in the past year or so.
thoughtful insight and doesn't agree with my narrow perspective = DOWNVOTE! sheesh.
great post, as usual.
LOL, Professor Lawrence H. White, Larry we didn't have the Fed before? Bet White is a true Keynesian. He pollutes young minds with Ponzi scheme economics (Fractional Reserve banking) and grooms people like Charles Evans and William Dudley.,,,
The Treasury took care of many of the functions.
The Federal Reverve Bank was a deception from the start.
Look at the name. Federal Reserve . Rename it so it's unmistakable.
It's name should be "US Banking Cartel Inc". Now it doesn't sound like it's part of the government anymore.
If Wilson would have named it "US Banking Cartel Inc" people back then would have been outraged.
@ Radical Marijuana Thanks for your contribution.
You;re usually a bit less >oppiniated<
OOPs My bad. Opinionated?
FED Chronicles: Just For The Record - Janet Yellen on Asset Bubbles
http://sufiy.blogspot.co.uk/2013/11/fed-chronicles-just-for-record-janet...
Peter Schiff On Gold Catalyst: Janet Yellen Exposed Part 2 - The Truth Behind the Myth
The FED is fine.
Get back to your milking machines and produce.
You have 6% MOAR to make up for today because Farmer has been on a spending binge.
Moo.
Maybe I'm deaf, but ... he doesn't seem to have adressed the problem of fractional reserve banking, the main problem, if not the only one, which all of the others stem from .
No matter what system you adopt at a higher level .
The Fed is not exactly a central bank but a private consortium of commercial banks.
Perhaps vox populi,a REFERENDUM?
ICELAND...
To the people of Iceland,"Would you like to assume the debts of these private banks?"
NOPE.NOPE.NOPE.NOPE.NOPE.NOPE
To the people of Iceland,"Are you absolutely certain you don't want to assume the debts of these private banks?"
NOPE.NOPE.NOPE.NOPE.NOPE.NOPE.
The Fed is not "a government agency" as this academic shill states.
Yes, end the Fed and this idiot's tenure.
Taking the value of the dollar down to $.02 should not be a ringing endorsement for continuence....End it....
I wonder about the real inflation over the last 100 years. They say the dollar is "down to 2 cents," etc. But that's using govt inflation figures, which are bogus. Also, the amount of real wealth "represented" by our money has clearly increased during that time, a fact that would have caused deflation had the money supply remained more stable.
All in all, the amount of real wealth stolen by the money inflators since the Fed was created is far more than indicated by the "down to 2 cents" observation.
Look, people, let's just admit the obvious. Our monetary system was highjacked 100 years ago by the Jewish banking families. Everything that is happening to our country now was predicted in the Protocols of the Learned Elders of Zion, all you need to do is read them. The control of the education system, the media, and the central bank is all explained. They told us very plainly that their intention was to dumb down society, make as many as possible dependent on the govt, and then finally extract all the wealth possible via the central bank, collapse the system, and then institute a totalitarian regime worldwide. I'm not making this up, just go read. We don't hear or talk about this stuff because we're all suppose to feel sorry for the Jews. Well guess what, the Jewish banking families didn't give a damn about their own people in Germany. The holocaust victims were just necessary pawns in the banking families plans. So here we sit, our country in shambles, near collapse, and no one will admit the obvious. Greenspan, Bernanke, Yellen, the owners of Hollywood and the media, these are all the same people. Have a nice day.