100 Years Ago: Why Bankers Created the Fed

The Mises Daily ^ | 12/23/2013 | Christopher Westley

[BfloGuy]

There is no reason to have a government-sponsored central bank -- other than, of course, to enable the politicians to borrow at next-to-no interest.

[iowamark]

The Whigs would later get revenge on this future chief justice when Abraham Lincoln, in response to a written opinion with which he disagreed, issued his arrest warrant.

I stopped reading right there. Why do you post this KKK idiocy on FR?

[Sacajaweau]

Robert Morris and the Bank of North America

The guy was a crook...

[DannyTN]

5 Myths debunked about the Federal Reserve

Don't fall for the conspiracy theories. The Federal Reserve is the only part of government that is actually doing what it's supposed to be doing.

[Marine_Uncle]

For anyone that has heard of the book called None Dare Call it Conspiracy by Gary Allen, but who never read the book.
It can be found here in PDF form (1.4mb) download.
Simply look at the upper right of the screen and click on where you see View the Book Here "PDF".
Take note as to where it gets downloaded on your system.
Download Here.

[DannyTN]

"I stopped reading right there. Why do you post this KKK idiocy on FR?"

I think they are either Ron Paul kooks who uses fear of the FED to build his kook base, or they are working for China or Soros.

[GeronL]

reduce the value of currency?

[PieterCasparzen]

Von Mises, Rothbard, the associated organizations and schools, etc., also work(ed) for new world order.

NWO fallback plan if the current system is dumped is to have the public “insist” on “gold backing” for dollars.

The relative scarcity of gold means that the government would continue to borrow, and the financial elites’ gold business would also profit immensely.

Rio Tinto, etc., are all “bankster” companies. For example, Herbert Hoover worked for new world order and served on Rio Tinto’s board of directors.

The only way out of the grip of financial elites is for government to produce it’s own money, with no requirement for going to them to borrow or buy precious metals. In short, the government would not need international banking at all; that would end the influence.

[JRandomFreeper]

What part of Article 1, Section 8 sets up the Federal Reserve?

/johnny

[DannyTN]

Debunking the Federal Reserve Conspiracy Theories and Other Financial Myths

[Marine_Uncle]

The ten myths are no longer available at that web site.
The facts section. So what. Go into the many details that have been well established over the years, that happen to be addressed in books such as the one I mentioned.

[DannyTN]

"reduce the value of currency?"

They do that, but only to avoid deflationary depressions which were common under the gold standard. If you want to hoard large amounts of cash in your mattress, the Fed is bad. But for anyone else, and especially business, the year to year stability that the FED has brought to the dollar is great!

[khelus]

reduce the value of currency?

And they're doing a rip roaring job of it

[DannyTN]

"What part of Article 1, Section 8 sets up the Federal Reserve? /johnny"

What part of Article 1, Section 8 set up all the other Federal Laws? The Constitution gives Congress the power to pass law, as well as the power to coin money. Deal with it.

Title 12 US Code Chapter 3 - Federal Reserve System

[DannyTN]

"What part of Article 1, Section 8 sets up the Federal Reserve? /johnny"

What part of Article 1, Section 8 set up all the other Federal Laws? The Constitution gives Congress the power to pass law, as well as the power to coin money. Deal with it.

Title 12 US Code Chapter 3 - Federal Reserve System

[DannyTN]

Scary only to people who hoard large amounts of cash in their mattress.

On the gold standard we had 20% year to year swings, but they averaged out on the side of deflation. Businesses were frequently run out of business because of the unstable money. But if you were hoarding cash, you did okay.

[DannyTN]

Scary only to people who hoard large amounts of cash in their mattress.

On the gold standard we had 20% year to year swings, but they averaged out on the side of deflation. Businesses were frequently run out of business because of the unstable money. But if you were hoarding cash, you did okay.

[GeronL]

That is what they call “stability”

[JRandomFreeper]

Congress passes plenty of unconstitutional laws. Like Obamacare.

A conservative would want congress restrained to it's constitutional limits.

/johnny

[JRandomFreeper]

Businesses were frequently run out of business because of the unstable money

Plenty of businesses are being run out of business today, especially small businesses, in case you missed 2008-2013.

/johnny