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To: Toddsterpatriot

You laugh. Let me ask this.

The Federal Reserve was created in 1913, supposedly in response to the financial Panic of 1907. The reason given for its creation was to prevent any future financial crashes - that’s why the extraordinary transfer of Constitutional power from Congress to a non-governmental body.

And what happened? We got a crash anyway - the worst one in history. Contrary to the promises of the bankers upon its creation, the Fed was useless in stopping the Depression.

So, clearly, prevention of panics WASN’T the REAL reason behind the creation of the Fed, just a distracting lie. So what was the real reason?

So then you ask, “OK, who stood to benefit?”

Now it gets interesting.

(AND we’ve still got income tax, a supposedly “temporary” measure - what’s up with that?!!)


107 posted on 05/31/2007 9:28:54 AM PDT by canuck_conservative
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To: canuck_conservative
The Federal Reserve was created in 1913, supposedly in response to the financial Panic of 1907.

There were many panics and crashes before 1907.

And what happened? We got a crash anyway - the worst one in history.

You should look at the economy since the Great Depression.

So, clearly, prevention of panics WASN’T the REAL reason behind the creation of the Fed, just a distracting lie.

Clearly? Says who? The JBS?

So then you ask, “OK, who stood to benefit?”

Let me guess, the JBS?

(AND we’ve still got income tax, a supposedly “temporary” measure

Help me out, where did it say the income tax was supposed to be temporary?

108 posted on 05/31/2007 9:46:13 AM PDT by Toddsterpatriot (Why are protectionists (and goldbugs) so dumb?)
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