How the Federal Reserve Harms the Public Interest »
Posted By populist 8 months, 4 weeks ago in Business & FinanceThe Federal Reserve System exists only to serve its owners and member banks and in doing so is hostile to the public interest. That's because it's a banking cartel with the power to restrict competition for greater profits gained at our expense. It goes from our pockets to theirs, and the public loses in at least four ways
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amervtrn8 months, 4 weeks ago
The FED was the most damnable thing ever unleashed upon the American People. Read the history and hear the words of those who fought trying to prevent its adoption.It was characterized as a license to steal.
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Some people just refuse to learn and therefore make the same mistakes over and over. This no time for amateurs nor on the job training. For you still playing the blame game or fighting the party wars, you are the same type of idiots as Nero, fiddling while Rome burned. The crash has been artificially held off for over forty years. The Great Bear is now loose. -
blablablaComment removed: User banned.
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populist8 months, 4 weeks ago
Ron Paul recently submitted HR 2755 to abolish the federal reserve:
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http://www.govtrack.us/congress/bill.xpd?bill=h110... -
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cowboygrandpa8 months, 4 weeks ago
Adam Smith the father of the free trade capitalism would be against the multinational trading corps of today!!!!!!!!
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Well yeah, since his ideas on free markets were based on small businesses competeing aginst each other to keep prices competitive.
But hey don't tell that to the greedy bastar*s who claim to be free marketers. They are actually full blown Fascists who seek to destroy the free markets.
Of course the Federal Reserve helps them daily.
Welcome to the one world economy and all the lies and poverty it brings.
The next thing is not a recession but a depression that makes '29 look like a cake walk.-
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populist8 months, 4 weeks ago
no doubt, C.G. From my understanding, Smith was taking a strong position against British mercantilism, which ruled the world of his day. He was looking for a situation of actual freedom - something which American style "capitalism" and the "federal" reserve have nothing in common with...
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Eagle_Eye8 months, 4 weeks ago
Good comment cg, and
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"Well yeah, since his ideas on free markets were based on small businesses competeing aginst each other to keep prices competitive"
I don't think we will ever see a free market again. I fear with the big corporations buying up the other big "hurting" corporations will just make for nothing but more of a monopoly in our society. This to me is really scary -
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populist8 months, 4 weeks ago
what use are the little people - except to serve the rich, right?
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jovial8 months, 4 weeks ago
Here's a good video on the economy. Enjoy ; )
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http://www.liveleak.com/view?i=95c_1223648114
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Eagle_Eye8 months, 4 weeks ago
Hi n2n, "My Friend" (wink), you know there are a bunch of "Mavericks" running the country for the last 8 years and theres another one trying to get in there now.
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We are indeed being run over by a huge political and economical bull dozer and it is killing the Middle Americans.
But you know, GWB came out and talked in his Rose Garden again this morning trying to tell us he had it all under control and the stock market dived again.
I went to "Scott Trade" this morning to get an application to open an account which I will do Monday. I told that Branch Manager that at this point in my life I don't think I will ever see the opportunity to invest like we have now. He agreed and admitted that this was perhaps a golden opportunity for me. (wink)
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Rick78x8 months, 4 weeks ago
Abolish the Federal Reserve or they will abolish us. They've already begun. Read Creature From Jekyll Island by G.W. Griffith.
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rightfromwrong8 months, 4 weeks ago
Corporate fascist America....need a revolution and turf out all the money changers and the corporate swindlers
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alakazam8 months, 4 weeks ago
If the American People will not defend themselves...who will?
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reallypsst8 months, 4 weeks ago
The big lie the bail out what a bunch of bs congress could have voted it down and the market would have reacted the same. Now what comes to mind is this how many politicians had investments in AIG and the other firms who got money up front. that money could have gone to the people who really needed it. CORRUPTION AT THE TOP OF GOVERNMENT!
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alakazamComment removed: Spam
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reallypsst8 months, 4 weeks ago
There is something bigger at work here,who really believes those bastards didn't know this was going to happen. to many things don't make sense wall street in turmoil , the election weeks away seems like a power play by the wealthy and mighty titans. this domino effect is not over people so hang on to your pennies because big brother is going to steel them !
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Eagle_Eye8 months, 4 weeks ago
I agree 10000000000000% with you!!
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They need to let all the corruption fall on itself, let the people have their homes back and let the economy shake out the bad seeds.
This BS of bailing out the bad greedy corporate gamblers with my money is totally unaceptable to me, why is it that the majority of America is being silent and allowing this BS is go on?
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flyonthewallzz8 months, 4 weeks ago
All the gold in the world is worth less than $2 trillion.
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All the proven oil (@ $100 per barrel) is worth about $100 trillion.
Credit Default Swaps: (CDS) are worth $60 trillion.
WTF?
There are 2 important numbers.
The first one is $20.67 the next one is $35.00: they where the hard wired connections of the dollar, to an ounce of gold.
Roosevelt devalued the dollar to buy up as much gold as he could, and made it illegal for Americans to hoard gold. Nutty and even a bit screwed up, but the dollar was still locked into gold, even though an American could no longer exchange his $35 for an ounce unless he had a good reason.
Nixon killed the Gold Standard on August 15, 1971: $35 dollars was no longer worth a troy ounce of gold. He said “Let me lay to rest the bugaboo of what is called devaluation.”
Today gold was selling for about $935 an ounce.
I might have this wrong but I think that $20.67 was worth an ounce of gold from 1900 until 1933, and then $35 was worth an ounce of gold from 1933 until 1971.
Since then a dollar has been worth whatever.
Sorry for the tangent. -
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canadianrancher578 months, 4 weeks ago
Many years ago a person explained the banking system in your country because I just couldn't really understand it because it was so different from up here. In his explanation he made reference to the banking system that excisted in Germany prior to the second world war, his reference had to do with very wealthy people who financed the country and after they had taken almost all that the country had to offer they jumped ship and move elsewhere and left Germany as a broken country with high unemployment which he blamed on the rise of Hitler. Now I really don't read much but for some reason the story he told he many years ago now has a familiar ring to it. The reason I brought this up has to do with the radical move from a free market system which has created alot of wealth to a socialist type system which to me is to drain the last of your countries wealth by government order. The socialist type system that I am refering to is the bailouts of banks and larger corporations by the government,I find it odd that it is ok to make everyone pay for some things (Bank bailouts) and yet wrong to make everyone pay for something like universal healthcare.
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DarkWizard8 months, 4 weeks ago
canadianrancher57,
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Yes, the parallels are both amazing and scary. I think it will be too late for many who think that we are going to recover in a year or two. Until America becomes a "producer" instead of a service nation the recovery will be longer and incrementally slower than what we've gotten used to in the past 10-15 years. Also, some think that the DOW will drop to between 5000-6000 points before stabilizing, but I think it could go lower due to the banks hoarding money, the time line for the Feds to distribute money, the ability to decide who gets money and who doesn't, and the inadequate response to foreclosures and credit issues.
Think about this...what is really going to change when the $700-$850 billion is distributed? If AIG is an example, they've already blown through $61 billion and have been given another $38.7 billion. I would say the Feds and Congress will be asking us for more money sooner than anyone can imagine. The government, and the corporations that own it, are like a succubus ready to see how far they can push us until the well is dry. They're not worried about us rioting...they've already started bring troops back as "crowd control" that will be allowed to use whatever force they deem necessary.
I'm not saying that all is gloom and doom, but we need to be prepared for a paradigm shift in our economic and political structures. The storm isn't over and a new president may not be enough to make a difference at this point. And, if McCain gets in...it will accelerate us in the wrong direction.
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Eagle_Eye8 months, 4 weeks ago
Hi fly,
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That standard doesn't stand any more ever since our good friend "Ricky Nixon" (wink) killed the gold standard. They just print the stuff now on fabric paper.
Their oiling up the printing presses around the country to print bad paper with "NOTHING" of worth to back it up. -
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ErinMotz8 months, 4 weeks ago
My biggest concern is that through fear we just end up handing over our freedoms to the government. A bailout plan should be considered a takeover plan.. if we as a people hand over our biggest companies because we can't see them fail, no matter how much it hurts we are handing over control to one entity .. it's amazing to me that no one has brought up the fact that having the government own these companies results in a large monopoly ... and I'm tired of hearing the people own it now the taxpayers .. lets get real!! the government uses the taxpayers money they don't have a decision as to how it gets used.
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Just my thoughts,
Adrien
http://www.TheNakedHippie.com
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cowboygrandpa8 months, 4 weeks ago
We work harder for less monetary value received and pay inflated prices for less product. Hmmmmm ??????? Sounds like a good deal to the bankers !!!! They make out no matter who loses.
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Lets just call it what it is, legalized robbery and slavery.
Please don't tell me I'm free to go somewhere else and sell my services when the wages have already been predetermined by a congress and business working together to depress wages while increasing profitability.
They have us by the B*lls and are starting to squeeze so that we will capitulate and turn everything over to them. Well not me !!!!!!
They can fuc* themselves. I was born a free man and will remain a free man in spirit if in nothing else.
I don't care if they turn it all upside down tomorrow. They don't win in the end, they lose.
Because they can't take it with them and it wouldn't spend well in hell anyway.
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