Value...such an ephemeral concept.
We had booms and busts before the Fed existed.
Congress and the political government would do a far worse job of managing the money supply. They would create money 100 times faster than the Fed.
Enough with the banks are boogeymen.
Businesses need banks to have checking accounts and to get loans from time to time. So banks are not going away. Banks all own the Federal Reserve so that they both want to see each other succeed.
The more money people have, the more income banks earn. Banks do not want us all to be poor.
Congressional spending is causing the Treasury to issue more debt. Congress would do that with or without the Fed because they think they can spend like idiots and get reelected.
A fine indictment of the Fed. But no treatment of the mess we are in is complete without Congress, and agencies like Fannie, Freddie, FHA etc.
The Fed did not do this alone. It had lots of help from lots of folks in our government. As proof, consider how different things would be were Zero not running a 1.5 trillion dollar a year debt and were 12% of all homes in the US not vacant.
No, but you CAN incur debt and by so doing possess goods and services.
Debt has been functioning as money for years - at least as a medium of exchange, albeit not a store of value.
But FRNs aren't going to hold up as a store of value, either.
I think that you can make a good case that when you use your VISA card, you are creating money - at least in the post-1913 sense of the word.
Who are these people? Names please.
Organization? Location? Any other info?
btt
Here is a fun and quick Youtube that covers the housing collapse AND banking history.
It can be watched in two 15min segments or one 30min.
It’s funny and gets to the point!
http://www.youtube.com/profile?user=theamericandreamfilm&annotation_id=annotation_996700&feature=iv
What, DC politicians screwed up yet again?
Didn't Thomas Jefferson, an esteemed American forefather, warn against a Central Bank saying he would rather see a standing army come against America than the creation of a central bank? Yes, yes he did indeed and once again, he was right. The man was a brilliant patriot and could foresee future dangers for Americans who did not take the Constitutional precepts seriously and unfortunately, they have come to pass.
Here is the flaw in the analysis:
The growth in the money supply as a consequence of the “stimulus” is not in the U.S. It is in foreign banks and investors hands.
Sales are not growing, job creation is not increasing and this does not even give the illusion of growth.
Somebody explain to me - If you have a gold standard and the gov’t only issues money based on gold in their vault then doesn’t that limit wealth creation?
for reference
Everyone who has taken on the Federal Reserve has been assassinated. The "murder-you-if-you-threaten-our-ponzi-scheme," banking types have but to whisper in a few congressional and senatorial ears, and the entire plan will go *poof*.
They're going ride this mule all the way into the ground.
In a true free market system, the marketplace would determine what interest rates are.
If the Fed used the market based yield curve to determine rates, our economy would work so much better.
Now for those people like me who enjoy lists here is another one:
But # 28 caught my eye -- According to the National Inflation Association, when you factor in the unfunded liabilities of the U.S. government, total federal debt obligations now come to a grand total of 76 trillion dollars