Posted on 11/06/2009 7:16:32 AM PST by FromLori
Video
Jim Rogers, chairman, Rogers Holdings, says that the US is the biggest debtor nation in the world
While I think the Fed has screwed up...serious question...
If no Fed, what would replace it? What would serve its purpose?
How about if we returned to the gold standard or simply printed our own money and did not have to pay all the interest we do as a result of the fed?
You know as well as I do that the international banks run the Fed.
If you shut down the Fed (or even credibly threaten to) then the world economy would collapse upon itself. The bankers control it all.
Plus the fact that this idea will never see the light of day since most all of the politicians on the finance committees receive huge financial incentives (read campaign contributions) from the banksters.
I believe the fed to be unconstitutional. It is fiat money of which the founders knew to be a bad thing. It does not answer to the people, but to federal employees. It has powers of monopoly over the currency and the banking system.
How would lending work? That’s more my question...perhaps it’s my limited understanding, but even RESPONSIBLE lending (i.e., the kind that could reasonably be expected to be repaid) would be much more difficult, no?
We can’t even audit the Fed and find out where it sent over $1 trillion dollars of our taxpayer money. It is accountable to no one.
I know they own our politicians and I know that is wrong. Thats the threat that the world would shut down well they are collapsing our economy anyway and it would be a temporary situation and then we could restore order.
Just think if our children and in my case grandchildren were not burdened with all that interest on the debt. But yes I know they will do everything in their power to stop this from happening.
That definitely needs to be done...
what would replace it? The Free Market will come up with a solution
Well actually North Dakota has a state bank. I have to re-read all the details but it works quite well and North Dakota has the lowest unemployment and less problems then everywhere else. Maybe something like that.
http://en.wikipedia.org/wiki/Bank_of_North_Dakota
a quick fix is to allow competing currency as legal tender and to remove any taxes from it
What is the Fed’s purpose do you say?
The Fed is not unconstitutional, but the US Treasury’s relationship with it is, as is Congress’s lack of authorizing or permitting a real money. The Fed is just another private enterprise.
However as a private enterprise, the Federal Reserve is criminal. A fraud, a conspiracy to defraud.
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; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.
A Gold Standard seems pretty good to me. Fiat money and credit have been the cause of death of many civilizations.
Sounds good to me anything but the fed. Did you see Bloombergs take on it?
http://www.bloomberg.com/apps/news?pid=20601039&sid=amqH8lCSKz7E
We are borrowing this money system from private banks when instead we should own the system, not rent it. Our government has the sovereign power to issue money (Art.1, Sect.8)
We are fed by the Fed and it will kill us unless we long for the truth. We were a Nation created under God. Let us remember that when Obama comes and says worship him. Obama and the Fed serve Satan. We serve God.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.