Comments for How the Federal Reserve Harms the Public Interest »
Posted By populist 1 year, 2 months 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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amervtrn1 year, 2 months ago
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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: Retracted by user
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populist1 year, 2 months ago
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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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populist1 year, 2 months ago
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i don't get it. my employer hires me, and gives me these little slips of paper, which i exchange for food, entertainment, etc. but some thugs from the irs will come to my home with guns if i refuse to give a big portion of it to them......so i still see it as my property. I think i'm missing something!
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is it on "loan" because that's the way they see it?-
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Will13131 year, 2 months ago
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the federal reserve PRINTS and OWNS our money.. a dollar costs them about a penny to print.. nice profit right..
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then they LOAN it to the federal government thru banks.. but they also want interest...
they can make it worth ABSOLUTELY NOTHING anytime they wish and simply issue NEW CURRENCY...
JFK wanted to return the PRINTING of our money back to the treasury department.. bad mistake....
only an IDIOT or person with a death wish would even try to get rid of the Fed..
they simply are TOO POWERFUL.... they do after all control the economic fate of the WORLD....-
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alakazam1 year, 2 months ago
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Sometimes I wonder what would happen if a couple of million Citizens walked into DC carrying boards and hammers and then proceeded to build gibbets from the Hill to the Lincoln Memorial.
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I wonder if our politicians would listen to the People then?
I didn't say hang anyone in particular. I just think it would get the message of who is actually in charge across.
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Lurch1 year, 2 months ago
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Reason we still have the anti-American Central Bank for Profit:
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Pro unaccountable private-profit central banking from Congress perspective:
- the suckups and incumbents in Congress get maxed contributions from the Central Bank and its subsidiaries.
Con unaccountable private-profit central banking from Congress perspective:
- it will save American taxpayers hundreds of billions of dollars, but will not do a thing for the politicians personally
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cowboygrandpa1 year, 2 months ago
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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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populist1 year, 2 months ago
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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_Eye1 year, 2 months ago
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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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populist1 year, 2 months ago
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good point EE. And the most interesting thing, to me, is this...
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if we were a truly free society, we'd all be held to the same standards of accountability. Thus, corporations wouldn't even exist.
Why? Because they're a grant of protection by the government to a group of people....allowing them to act in ways that doesn't hold them personally responsible for the outcome....
Well, that's probably best left for another thread..-
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alakazam1 year, 2 months ago
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Some statements made concerning the Federal Reserve Act before it was voted into law.
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"The worst legislative crime of the ages is perpetrated by this banking bill…The banks have been granted the special privilege of distributing the money, and they charge as much as they wish…This is the strangest, most dangerous advantage ever placed in the hands of a special privilege class by any Government that ever existed. The system is private…There should be no legal tender other than that issued by the government…The People are the Government. Therefore the Government should, as the Constitution provides, regulate the value of money.” (Congressional Record, 12/22/1913) -Rep. Charles Lindbergh Sr.
“I do not blind myself to the fact that this measure will not be effectual as a remedy for a great national evil – the concentrated control of credit…The Money Trust has not [died]…He will not cease fighting…at some half-baked enactment…You struck a weak half-blow, and time will show that you have lost. You could have struck a full blow and you would have won.” (Congressional Record, 12/22/1913) -Congressman Victor Murdock
Sometimes foresight is 20/20.
This current fiasco (the bailout plan) is nothing but fodder for the beast.
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jovial1 year, 2 months ago
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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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not2needy1 year, 2 months ago
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Eagle_Eye1 year, 2 months ago
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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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alakazam1 year, 2 months ago
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Ford is trading at less than three bucks a share...GM isn't much better.
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Be on board for the next bailout!!!!!
It's a con.
The uber rich are gonna buy it all and then inflate it for the cash in. Some people are gonna get disgustingly richer from Private loans made at the taxpayers expense.
Where do you think the liquidity is coming from?
Same as happened during the Great Depression...it's a massive redistribution of wealth upwards.-
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Lurch1 year, 2 months ago
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The Central Bank is a privately run company whose purpose is to maximize profits for its shareholders; wealthy American and foreign individuals and banks.
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The affect on the US consumer/taxpayer carries little or no weight in their decision making. Their excuse for this grand theft, Reagan`s Trickle Down Theory. The richer we make them, the sooner the pennies will start dropping from Heaven, so shut up and pay more.-
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alakazam1 year, 2 months ago
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Sounds to me like you understand the modus perfectly.
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So what will end it...a Jacquerie?
http://en.wikipedia.org/wiki/Jacquerie
If our soldiers are truly loyal the People will prevail.
Personally, I think it is long overdue.
(okay...so a jacquerie may not be the best method, but the American People MUST regain control of their Nation)
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populist1 year, 2 months ago
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I wouldn't say it's the best time to invest, because if you understand the boom and bust cycle - which only the "austrian school" of economics really covers properly, you'd know that the "correction" of the inflated prices in the market have a ways to go.
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Maybe i'll be wrong, but I wouldn't be surprised if this thing eventually bottomed out - even after some up and down swings in the next few years - around 5000.
Either way, Thanks for the nod on ameritrade...i've often thought of trying them out.-
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Eagle_Eye1 year, 2 months ago
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TY simon, I am going to be doing a lot of research this weekend and will start buying Monday morning. What are you investing if you don't mind my asking,
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I think GM at $5. a share and Ford would be a good bet., I for see a merger here.....
So. pop, you think it will go all the way down to 5000?? If so then there is still a long down turn a head.
I know, and told my husband the last down turn that it will get worse before the elections.-
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simonsez1 year, 2 months ago
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EE: I am buying a company called Frontline Ltd (FRO). They own tankers that move the crude around the world and return excellent dividends. I bought some at $30 per share on Friday. I already have several hundred shares and since I am retired, I am building dividend income.
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Their business will slow down, but never goes away and will be good long term for me.
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alakazam1 year, 2 months ago
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Fiat money only exists in the mind.
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It has no basis in reality.
Imaginary wealth does no good but to people spending imaginary money.
Particularly when the people forced to spend it pay interest at the whim of the supplier.
Fire the Federal Reserve, it's our only Hope.
Why you would loan close to a trillion bucks to the people who print them?
I would like to see the interest rates on this deal and who profits 10 years down the road.
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populist1 year, 2 months ago
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yup, he sure does have it right on this issue, and has been warning about the problems in our economy for years.
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Two of our biggest issues, war and the economy, he's been dead on. I only hope more of us start catching on to what the root of these problems are...
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reallypsst1 year, 2 months ago
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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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alakazam1 year, 2 months ago
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http://www.atlargely.com/2008/09/what-is-jeb-bus.h...
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reallypsst1 year, 2 months ago
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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_Eye1 year, 2 months ago
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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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flyonthewallzz1 year, 2 months ago
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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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canadianrancher571 year, 2 months ago
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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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DarkWizard1 year, 2 months ago
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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_Eye1 year, 2 months ago
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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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Eagle_Eye1 year, 2 months ago
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"I wonder what would happen if a couple of million Citizens walked into DC"
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Me to, and why doesn't that happen, we did it in the 60's.....why don't we take it to Washington, every one who can needs to go, let's have a "Millions of Americans" walk on Washington!!!-
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alakazam1 year, 2 months ago
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There is always the alternative.
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http://www.last.fm/music/Megadeth/+videos/+1-_pQK6...-
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Eagle_Eye1 year, 2 months ago
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TY alak., that did remind me of the great loss of family farm's in the late 80's and 90's. That was when people in the rural areas of the country were beginning to break under corporate weight.
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Really sad to see where this country has gone, I don't know if we can recover from this in my life time. Also, if the environmental problem isn't addressed soon (with humans in trouble we are pushed to the back ground) there will be no turning back.
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ErinMotz1 year, 2 months ago
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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
Organic Tshrits -
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cowboygrandpa1 year, 2 months ago
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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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