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The Federal Reserve: 100 Years Of Boom And Bust
"If we evaluate an organization's performance by what it promised when it was created, the Federal Reserve has clearly failed the American people," is how Murray Sabrin concludes this documentary on the first 100 years of the Fed's reign. The sad truth, he details, is that "the USD has lost more than 95% of its purcahsing power since the Fed was created and the cost of living has skyrocketed since Nixon severed the last linkage between the USD and gold in 1971." In short, the revolution of 1913 shifted power from individuals, communities and states to the federal government and its powerful allies in the private sector.
Submitted by Murray Sabrin via dshort.com,
Before we view the documentary, I'd like to put 1913 in historical perspective.
1913 was, in many ways, one of the most extraordinary years in American history. In fact, according to one analyst a revolution took place in 1913.
1913 began with the ratification of the 16th amendment, which gives the federal government authority to tax the income of the American people directly. We will explore the income tax on April 17 next year at a symposium I will moderate. So save the date April 17 at 7 PM in the Trustee's Pavilion.
In April of 1913, the 17th amendment to the Constitution was ratified ending the selection of US senators by state legislatures. Now the U.S. Senators would be elected directly by the people.
And on December 23 President Wilson signed the Federal Reserve Act giving the United States a permanent central bank.
All these events took place at the end of what is known as the Progressive Era, a time of supposedly great reforms to benefit the common man. Half a century ago historian Gabriel Kolko challenged the orthodox view in his trailblazing book, The Triumph of Conservatism. Kolko argued that the progressive era was in reality a time when big business interests used the power of the federal government for their own benefit at the expense of the general public.
One of the last so-called reforms of the era was the creation of the Federal Reserve.
In short, the revolution of 1913 shifted power from individuals, communities and states to the federal government and its powerful allies in the private sector. Hence, the Progressive Era expanded crony capitalism in America.
The documentary, The Federal Reserve: 100 Years of Boom Bust, explores the impact of the Fed on the US economy for the past century.
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A banker cabal creating a non-Federal agency controlled by the banks for the benefit of the banks while simultaneously robbing every American citizen blind with currency debasement and Trillion$'s of un-payable debt.
Here's a documentary for ya to check out some time. It is more about the owners of the fed.
http://www.youtube.com/watch?v=gh2FYVRcjF0
Boom and Bust now turns to Doom and Dust...
To start, I'm not a troll...but I just came across this Forbes opinion piece...
You guys gotta read this shit:
http://www.forbes.com/sites/robertlenzner/2013/12/11/the-markets-should-celebrate-stanley-fischer-as-number-two-at-feda-perfect-ten-strike/
I almost made myself a Google+ account so I could log in and post a comment asking whether or not it was a joke.
There are too many "good" one-liners to count.
The bits about Summers and The Bernanke are classic.
Hang the MF central bankers, take all their wealth, and send the relatives back to wherever the fuck they came from.
In monetary economics, fiat money is an intrinsically useless product, used as a means of payment. In some micro-founded models of money, fiat money is created internally in a community making feasible trades that would not otherwise be possible, either because producers and consumers may not anonymously write IOUs, or because of physical constraints.[ House of Cards]
RIPS
Silver Bitchezzz
Are Americans as fat, stupid and lazy as the banksters believe. Stay tuned.
I skipped to the end. Yes. The twist ending is that the Federal Reserve Act is a recipe book. The meat is tastier when it is marbled, and it is more humane when the animals are raised without brains.
All goyim are stupid, but the American variety is definitely fat and lazy as well.
If Kissinger had any balls, we would have culled the herd by now...
+17 TRILLION and counting!!!
So, you found my sunken ammo stash!
enslave a free people to debt, capture all assets through boom and bust cycles it creates with debt out of thin air.
the fed res "system" just another word for high treason.
FORWARD!!!
And since we're living 1984, that is to say BACKWARD! Towards enslavement once again.
This "the revolution of 1913 shifted power from individuals, communities and states to the federal government and its powerful allies in the private sector. Hence, the Progressive Era expanded crony capitalism in America." is the problem. The ability to take your own money and give it back to you or to someone else sucks.
nice of wilson to do that right before christmas, gotta make sure it happens while no one is paying attention. The worst part about this is that not more than 1 person in a thousand knows any of this, and thats probably optimistic. Too busy talking about how either the red team or blue team is screwing the whole country, never realizing where the real power lies, and that all their politicians are just sock puppets for the big banks/MIC anyway. thank you, american education system. ensuring each generation is a little dumber than the last, just like they ensure each dollar is worth a little less than the dollars of the last generation
I don't hate saying this...
I think there is hope. I don't watch T.V. but I know people that do. Last night, ordinary newscasters on the regular old evening news talked about Interest Rates, The Federal Reserve, and Quantitative Easing. You could not have imagined this stuff actually being talked about on the evening news several years ago. It seems to me that people rejected more war(re: Syria). Here where I live, higher taxes "for the children!" in public schools was rejected by voters. The voters made it clear they want the education system worked on/fixed within the current income that it's already receiving from taxpayers.
OTS66, hope you are right...
he worst part about this is that not more than 1 person in a thousand knows any of this
Which is OUR problem to fix.
Inform your family and friends (with kindness and patience), talk about it at work, at the grocery store, on call-in radio.
THIS IS OUR JOB.
why would anyone down vote that? and you are right, and i do try. And OTS66 i sure do hope you are right. Stossel on fox news actually ran a special on this a few weeks back. couldnt believe he would do it, and that fox would run it. missed A LOT, but you gotta ease people into it. start off with the full truth and they will offer you a roll of aluminum foil to make yourself a new hat
Wall•e Clip: Vacuum
http://www.youtube.com/watch?v=8-MlnAJklrM (1:02)
If it is not Federal......why would they call it Federal Reserve ?
Because its very name is s lie.
Because it was born on a lie and deception.
Because every owner is a liar.
Because every person involved lied about it.
Because every politician is bought by it.
Because its in the process of owning everything.
This is by far the biggest scam in the history of the world.
because it sounds impressive
Because the definition of federal is contract or compact.
in order to avoid calling it the Third Bank of the United States? though do you know a few facts about the Second Bank of the United States?
from wiki: "A private corporation with public duties, the bank handled all fiscal transactions for the US Government, and was accountable to Congress and the US Treasury. Twenty percent of its capital was owned by the federal government, the Bank's single largest stockholder. Four thousand private investors held 80% of the Bank's capital, including one thousand Europeans. The bulk of the stocks were held by a few hundred wealthy Americans. In its time, the institution was the largest monied corporation in the world."
"That's why I'm richer than you." -J Dimon.
"Good morning. I am pleased to be before the committee today, testifying about…but we're gonna need some bailout cash first, PDQ."
- J Dimon.
"I think I lost a cuff link. Anyone seen it? Oh, that's okay everyone. No reason to crawl around the floor. Oh, there it is. Thanks, Barney. Everyone may take their seats. Now the question was...." -J
" Income taxes on individuals are not needed to fund the legitimate functions of the federal government and I believe that they are not even intended to do so. Instead, the purpose of an income tax is to give the central government power over each individual citizen, so that its minions can reward who they wish and punish who they wish. Citizens of any means who want to speak out against the government must first consider what they have to lose.
Congressmen will have favors to sell with tax breaks. The executive branch can instill fear and silence people who get too far out of line. It is a tool of control rather than a necessary tool for funding the government. It is a way for them to put their finger on you."
Some people think the solution is the so-called "Fair Tax." It isn't. It would just turn the IRS from an agency which audited your income to one which audited your spending. There are other problems with it as well.
The solution is not to change the way in which the central government can demand taxes of individual citizens, but to eliminate that power all together. The states should be a shield between the individual and the central government, since if a state has oppressive tax collectors, it will soon find itself without productive citizens. It is much harder to escape the clutches of an abusive tax system controlled by a central government." from "The Localist" blog http://localismaphilosophyofgovernment.blogspot.com/
Federal Reserve was created in JP Morgan's image. He was the 'lender of last resort' before the Fed, during the crisis of 1907 when he backed the bank clearing houses to restore confidence. And during the panic of 1893 when he bailed out the federal government and seized greater control of major industries
It was all about banksters even before there was a Fed. Through successive engineered panics and bailouts (including the us government) they were able to seize and consolidate power. Some things haven't changed
And when he died his family discovered that he didn't actually own that massive fortune everyone thought he did but another wealthier family backed him. What family?
yes, the FED was created on a template provided by JPM. yet that template already existed, both in form of the previous Second Bank of the United States, the previous First Bank of the United States and all the european central or national banks
what does a financial center want? to be the biggest and most exciting, of course, and attract moar customers. and, of course, it has to be competitive
context: when the FED was created, the biggest financial centers were London and Paris. and they had the Bank of England (at that time privately held, note) and the Banque of France as lenders of last resort
more context: does anyone here ever complain about the Sveriges Riksbank? It's the oldest central bank of the world. why is there so little to complain about that? can it be that it's how they behave that matters way more than anything else? btw, if you aren't Swedish, do you have any right to ask Sweden or any other foreign country to trash it's CB?
and the last piece of context: how do you seriously prevent a CB from monetization? well, it's easy. they need debt, in order to do that. no debt, no CB fuel
balance budgets at all levels, both state and households, and you'll never have issues with CBs
but if you do create mountains of debt, don't wonder where they eventually land
Bow down to your masters, the banksters, sheeple. One hundred years of stealing the citizens wealth and getting the sheep ready for debt slavery. Bankster technocrats replacing elected officials in other countries without the citizens fighting back.
Next raiding citizen bank accounts.
Bow down before the masses and lay on this nice hard surface, just before the sharp shiny blade severs your head from your body.
-the proles
tripe
totally !
FOUNDATION
The mainstream news media are self-serving scum. Because they RARELY show the people these:
http://patrick.net/forum/?p=1230886
The news media discriminate by: "What is intellectual honesty's cash flow?"
Paid advertising funds the media!
We know how these things end, and they end unepectedly.
Those who thought they were safe become fugitives, new despots are made, the old executed or imprisoned.... until the new despost are replaced by something of the people...then repeat cycle.
Corrupt regulators will become scapegoats, friends will be sacrificed for survival. The politicians will sacrifice their paymasters when it is a choice between necks to the rope.
But it takes a long time to come....but can come unexpectedly at any time.....
It's a grand chess board and we see 10 moves ahead. The mouth breathing goyim are nothing to fear. Mossad blew up 3 high rises on national tv but the morons trusted their favorite bought personalities on left/right telievision to explain it all to them... lmao
Oops, spilt Koch.
expensive and "promising" before the spill
Nixon put the Federal Government on steroids then by regionalizing the nation, taking the states completely out of the power loop as Congress bestowed upon the Executive Branch the powers of Congress.
But, but, free money printed up out of thin air for a select privileged few benefits the common man, doesn't it? Don't we need wise overlords?
/s
Baaaaah Baaaaah Baaaaah Baaaaah Baaaaah Baaaaah Baaaaah
Wise overlords, there is no such thing. The only way anybody over you will be wise is if they can be held to account for their actions. There is a tiny chance a particular overlord could place themselves below a power greater than themselves and hold themselves accountable but don't count on it.
:)
Are you new here? Did you miss my "/s" ...? Sorry, but I'm just not sure whether you're being facetious or not. I did give you a +1 though for what I consider to be a spot on accounting of the fact that, there is no such thing as a wise overlord. But maybe you missed my /s and thought I was asking the question seriously. It would appear appear so with your last sentence.
/s = sarcasm(just in case you didn't know. which means my post was done in sarcasm)
Anyway...
Wise Overlord = two words combined that can't make sense
EDIT: Okay. I see that you have been signed up to ZH for 1 week and 1 day. No sweat. I'll just give you a heads up to look out for "/s", OR "/sarc". Also note that, at times, some people on here make posts such that they feel their post is just so damn sarcastic that no one could possibly NOT take their post as being sarcasm, and do not put the /s or /sarc on the end. Just something to think about and be on the lookout for.
Cheers
+ 1 Love your diplomacy OTS - as always.
OTS66 - The most patient person on ZeroHedge!
TY guys. I appreciate it. I do try.
Got it. Augmenting sarcasm can be tricky. We are on the same team.
Where did my dollar go?
http://www.youtube.com/watch?v=uTxoUHvaGjU
fu2 anti-Semite
betrayed by many, now ornaments dripping above.
Ummmm...is the US at the Boom or Bust stage at the moment? Old Yellen is not going to let it "Bust", but it will.
Don't waste your time and if you want to learn about the history of the FED there are other sources. I can't really say I learned anything I didn't already know and I don't know shit. This is a republican libertarian brain dead circle jerk.
you got the "I don't know shit" part right. But, that is all you got right.
The documentary was shallow opinionated and one sided.
and "I dont know shit" is /s
“I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world - no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men.”
- Woodrow Wilson
But in our personal lives we can choose to avoid using credit as much as we can and thus maintain a significat portion of personal freedom. Buy a house and pay it off. Unless you have to refinance it to save the life of someone you love don't refi the beast! To carry no debt maximizes your freedom and in todays world you need all the freedom you can get!
This isn't about what one person can do to avoid personal debt. This is about a system that burdens every person with unavoidable and unpayable debt.
Nevermind that every dollar in his bank account is debt. You want a coffee this morning? You will pay for that with debt. So how was that "carry no personal debt"? That is all you carry. slave...
I spoke with a young cab driver the other day... asked him if he understood the concept of cheap money. He responded that it was money derived from debt...
There is hope...
Evaluate them and arrest them. Lock the crooks up and prosecute them for financial terrorism.
The day a certain Mr J. Pierrepoint Morgan is recognised as the most evil influence in the 20th Century, is the day we turn the corner.
It is my understanding that, in his day, Morgan was more an American agent for the Rothschilds.
One indication of that was that, after his death, Morgan's personal fortune was not extremely big.
jp morgan would fuck his grandmother...
The people could just say no but they dont. Theyre not victims, theyre volunteers, theyre ignorant and until the game of monoploly is made illegal life will go on. The avg voter does not yet comprehend whats going on. Its natural to feel sorry for them. But if you do get it and youre not stackin then you pretty much screwed yourself.
repost: the FED is on the up and up..never a whistle blower in it's 100 year history..how many work for the FED and not one speaks evil of it..amazing.
Wasn't there an article on ZH recently, past month or so, of a guy from The Fed apologizing for his work at The Fed and him understanding the damage it has done?
I don't have the link and I may be misremembering...
The gentleman was wrong about the 1st Bank of US. It began in 1791, not '81. Bank of North America was 1782 and was the first central bank. Small mistake but I have OCD with these things.