Posted on 08/09/2019 5:11:55 PM PDT by amorphous
“The more things change, the more they stay the same”
And it's PEARL HARBOR.
Do you even know that before that hit on us, that the Japs invaded China in the '30s and then moving onwards to Korea and other such smaller island nations?
Abolish the Fed.
Of the 18,000 FED employees not one donated to the 2016 Trump campaign. The FED has no idea what the neutral interest rate is. Pretending that debt is money is an ongoing disaster for the country...
Nationalize it. :)
Holding money out to businesses and individuals is like holding clumps of sugar out to a stable of horses, like holding a bag of heroin out to a junkie.
The ‘Fed’ (which is nothing to do with anything federal) has one product, debt. Smith is correct that the Fed uses debt to gun and slam the markets, leaving insiders like vultures to pick the meat off the carcasses.
Time to end the Fed and return to the gold standard.
Although gold is just a yellow metal with no real intrinsic value, the Constitution does give our Treasury dominion over its production and regulation. That alone, with the extermination of the Fed will cause a flattening in the boom-bust cycles. There will be still be natural ebbs and flows but they will no longer be artificially induced.
Returning to a gold standard must be accompanied by heavy, heavy, heavy surveillance and draconian enforcement against any naked shorting of gold, against paper contracts that are not themselves backed by gold but are instead creatures of a secondary gold derivative market. Get rid of those.
Even now the short paper against gold is being withheld by Wall St sharks allowing the price to rise while their financial lapdog media outlets get in a groove with a meme about a coming crash, talking us all into a crash which should be just a mild recess.
Once sufficient enough retail sheep are herded into gold, the sharks will flood the gold derivative market with paper contracts to crash the price of gold. It’s what they do, it’s what works for them. They do the same to gold as they do the rest of the economy that comes into their target view.
Smith is right, their playbook is old and worn. They see Trump as a disruptor who must be brought down or he will bring them down.
Americans must absolutely come together to defeat the democrats in 2020 and also the bought off republicans who are with the democrats or who exude reticence to do the right thing either because they are stupid or they like Chinese money or both.
2021 can be a year when we say a unnited good-bye to the Fed, “Thanks for playing!” and return to sound money. We will all feel so much better and we know we have a President that will cushion the blows for us just as he took care of our farmers when he lowered the hammer on China.
Agree. And like any other Ponzi scheme, it can only continue as long as it's growing.
Once this is done, basically switch to an open distributed ledger system (bitcoin like) tying digital and paper serialized dollars to actual physical gold at some value much higher than today's gold price?
Much thought, considerations (foreign), and planning would need to go into something like this, but it might be a start in saving us from a colossal train wreck caused by a debt based currency.
I can think of many benefits that may outweigh the negatives.
You might want to direct your question to the author. His email is at the link above.
Just abolish it.
Or Trump can simply have the US Treasury Dept issue its own bonds and cut the Federal Reserve out of the loop. There are people who believe this is exactly what he plans to do after the election. No congressional act needed. It effectively takes control of the Fed.
Face it, since the Fed came into being, all recessions/depressions have been caused by it and then they ‘save the day” by screwing with it for a while and then hose it again...they are political hacks and if they golfed, they would have 45 handicaps or more.
Sure, mail me a book list. I might even have read some of them.
$30B in a $22T dollar economy isn’t even a match, It is nothing. If you made $60K/yr it would be the equivalent of a $7/mo tax increase.
Note the USA. Our exports are only 1.5T/22T or 7% of GDP. Even if a "world wide global slowdown" of 10% were to happen, it would only reduce out GDP by tiny amount or 1/10 of 7% or .7% of GDP. This is not a catastrophe. Imports would be unaffected in a slowdown.
But that quickly led to a practical prohibition of all US farm products with is leading to Trump calling for $300B in tariffs. This what I mean. The match has been lit. I just saw Steve Bannon is calling for the bringing down of the entire Chinese economy. Where do you think that will lead?! War!
Or gold/silver.
Surely there’s more to it than just that, eh?
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