Funny how the Robber Barrons disappeared right when the Fed was created.
Its not Federal
And there are no reserves.
It’s a private corporation counterfeiting a nation’s currency and a blatantly unconstitutional long con job imho.
I have nothing against banks, not even central banks, but not private owned ones printing species at interest.
That is the definition of a bottomless pit.
Remember in 1913 their pitch was
“ to prevent booms and busts” ,,,
then it proceeded to produce the biggest boom roaring 20’s style
followed by this nation’s largest depression.
.Kennedy introduced the silverbacked Treasury notes as good interest free currency to drive the suicidal interest accumulating federal reserve notes out of the market
And we know what happened next.
.jmo.
When you hear all these crazy calls for reparations coming from San Franciso and California, just thing what would happen if a person was named to the Chairman of the Federal Reserve had the same economic views of Elizabeth Warren and Bernie Sanders and implemented a social justice agenda.
The world has known for 350 years that centrally-issued, fiat currency ALWAYS leads to economic destruction, massive inequality, and more power to government and corrupt cronies. America's Founding Fathers understood this as an unalterable truth
The great trick of progressives in the last 100 years is convincing us this was NOT true. That central planning was indeed possible.
This thread is guaranteed to be entertaining. I already noticed this gem from the article:
“This reality has become important in the past year because, for the first time in a century, the Federal Reserve is losing money.”
This Ryan McMaken really knows his subject... or not.
Griping about FED works. Just like griping about the weather works.
It’s odd how I never hear a solution in any of these articles.
America was screwed big time and the federal reserve has been keeping it going because so many citizens have just TRUSTED the government.....
Well we've seen in the last 6 years or more where that's going!! imhop
"The Federal Reserve Is A Purely Political Institution, And It's Definitely Not A Bank..."
Regarding Federal Reserve, patriots are reminded that, not only did the delegates to the Constitutional Convention (Con-Con) decide NOT to give Congress the express power to regulate INTRAstate banking, but also that popularly elected Congress is constitutionally "married" to the power to regulate the value of money whether Congress wants that responsibility or not.
Here's excerpts from James Madison's Daily Journal of Debates and the writings of Thomas Jefferson concerning no constitutionally enumerated power to regulate banking.
"Docr. FRANKLIN moved to add after the words "post roads" Art I. Sect. 8. "a power to provide for cutting canals where deemed necessary [emphasis added]"" —Madison Debates, September 14, 1787.
"Article I, Section 8, Clause 7: To establish Post Offices and post Roads [, a power to provide for cutting canals where deemed necessary];"
"Mr. KING. The States will be prejudiced and divided into parties by it. In Philada. & New York, It will be referred to the establishment of a Bank, which has been a subject of contention in those Cities. In other places it will be referred to mercantile monopolies." —Madison Debates, September 14, 1787.
"It is known that the very power now proposed as a means was rejected as an end by the Convention which formed the Constitution. A proposition was made to them to authorize Congress to open canals, and an amendatory one to empower them to incorporate. But the whole was rejected, and one of the reasons for rejection urged in debate was, that then they would have a power to erect a bank, which would render the great cities, where there were prejudices and jealousies on the subject, adverse to the reception of the Constitution [emphasis added]. — Jefferson's Opinion on the Constitutionality of a National Bank : 1791
And here's constitutional clauses about Congress's unique power to regulate the value of money.
"Article I, Section 8, Clause 5: To coin Money, regulate the Value thereof [emphasis added], and of foreign Coin, and fix the Standard of Weights and Measures;"
"Article I, Section 10, Clause 1: No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts [emphases added]; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility."
In other words, activist President Woodrow Wilson scandalously failed to first lead Congress to successfully petition the states for an appropriate amendment to the Constitution to effectively repeal key wording in the clauses shown above before he signed bill that established Federal Reserve imo.
Also note that the delegates to the Con-Con wanted only metal coin money because paper money had proven hard to regulate, paper money, arguably defeating the fed's power to regulate money (ahem).
Justice Joseph Story had put it this way about problems with paper money.
"It has been justly remarked, that the power "to coin money" would, doubtless, include that of regulating its value [emphasis added], had the latter power not been expressly inserted. But the constitution abounds with pleonasms and repetitions of this nature."—Joseph Story, Article 1, Section 3, Clauses 4 and 5, Commentaries on the Constitution 2:§§ 732--33, 735--39
"It is further to be observed, that the states cannot issue bills of credit; not that they cannot make them a legal tender; but that they cannot issue them at all. This is a clear indication of the intent of the constitution to restrain the states, as well from establishing a paper circulation, as from interfering with the metallic circulation [emphases added]."—Joseph Story, Article 1, Section 3, Clauses 4 and 5, Commentaries on the Constitution 2:§§ 732--33, 735--39
Wilson's unconstitutional (imo) Federal Reserve also weakened the power of ordinary citizen voters who arguably indirectly had the power to regulate value of money by voting for federal lawmakers who do have such power.
The bottom line is that patriots need to primary federal lawmakers in 2024 who haven't supported legislation to help "street fighter" Trump 47 finish draining the swamp by that time.
Primarying lawmakers should also include lawmakers who fail to support a resolution to effectively "secede" ALL the states form the very corrupt, unconstitutionally big federal government by proposing an amendment to the Constitution to the states that is strictly limited to repealing the 16th (direct taxes) and 17th (popular vote for federal senators) Amendments.
Relatively little or ideally no discussion would be required for such an amendment imo.
The Federal Reserve is neither Federal, or a Reserve.