Posted on 12/25/2020 4:25:26 PM PST by Blood of Tyrants
In the past during normal times, to raise money for the federal government, the Treasury would sell government bonds. However, in recent years, they have abandoned any pretense of selling bonds and have instead just printed more money. Which raises the following question)s); 1. If the fedres is just printing money, is the US actually borrowing it? And can we just print more money to pay it back?
And the scary thing is that once the government discovers that when it needs more money it can just print it, it eventually does. The problem is runaway inflation which will destroy your life;s savings unless you have it invested in hard assets like gold, real estate, brass casings and copper jacketed lead, etc.
“You never said who the Fed gave the $55.5 billion in 2019 earnings.......”
I suppose they give a few nickels, comparatively speaking, to the Treasury. Note they use the word profit. How much do they hold back for “expenses?”:
Look, if you choose to believe and trust a bunch of financiers, that they are true and blue and never throw their weight around and are never corrupt and that they never ever buy off politicians, then have at it. You are basically alone in this world.
10%? Less? What's your best guess?
Note they use the word profit. How much do they hold back for “expenses?”:
About $4.5 billion. $55.5 billion was after all expenses.
Look, if you choose to believe and trust a bunch of financiers,
As opposed to believing the guy who thought JFK and Reagan wanted to or tried to end the Fed?
“As opposed to believing the guy who thought JFK and Reagan wanted to or tried to end the Fed?”
I remember the Reagan presidency well, and yes, he did want to end the Fed. It was talked about by members of his administration. But the talk died down after he was shot.
And yes, JFK wanted to eliminate the Fed. He signed Executive Order 11110 that gave the Treasury the ability to issue silver certificates. These were in direct competition to Federal Reserve notes and did not require the United States government to pay interest on the money. Do you really think the Fed liked that action?
When I was in college I ran across an old magazine in the archives that stated that JFK had called the Fed traitors. I can not find that on the internet now. It was 1963 and one of the major news magazines. I intend to locate it one of these days.
Wow. You're confused. He ordered the phase out of silver certificates.
He allowed the Fed to print $1 and $5 FRNs, for the first time, to replace silver certificates.
These were in direct competition to Federal Reserve notes and did not require the United States government to pay interest on the money
You think the government pays interest for FRNs? How does that work?
When I was in college I ran across an old magazine in the archives that stated that JFK had called the Fed traitors.
He never did that. He was talking about communists.
Still no idea what the Fed did with their $55.5 billion of profit?
Executive Order 11110 was issued by U.S. President John F. Kennedy on June 4, 1963. This executive order amended Executive Order 10289 (dated September 17, 1951)[1] by delegating to the Secretary of the Treasury the president's authority to issue silver certificates under the Thomas Amendment of the Agricultural Adjustment Act, as amended by the Gold Reserve Act. The order allowed the Secretary to issue silver certificates, if any were needed, during the transition period under President Kennedy's plan to eliminate Silver Certificates and use Federal Reserve Notes.[2]
“He never did that. He was talking about communists.”
No. I read the article on that one myself, not second hand. He was talking about the Fed.
President John F. Kennedy
Waldorf-Astoria Hotel, New York City
April 27, 1961
Mr. Chairman, ladies and gentlemen:
I appreciate very much your generous invitation to be here tonight.
You bear heavy responsibilities these days and an article I read some time ago reminded me of how particularly heavily the burdens of present day events bear upon your profession.
You may remember that in 1851 the New York Herald Tribune under the sponsorship and publishing of Horace Greeley, employed as its London correspondent an obscure journalist by the name of Karl Marx.
We are told that foreign correspondent Marx, stone broke, and with a family ill and undernourished, constantly appealed to Greeley and managing editor Charles Dana for an increase in his munificent salary of $5 per installment, a salary which he and Engels ungratefully labeled as the "lousiest petty bourgeois cheating."
But when all his financial appeals were refused, Marx looked around for other means of livelihood and fame, eventually terminating his relationship with the Tribune and devoting his talents full time to the cause that would bequeath the world the seeds of Leninism, Stalinism, revolution and the cold war.
If only this capitalistic New York newspaper had treated him more kindly; if only Marx had remained a foreign correspondent, history might have been different. And I hope all publishers will bear this lesson in mind the next time they receive a poverty-stricken appeal for a small increase in the expense account from an obscure newspaper man.
No mention of banks or the Fed, but mentions Marx four times. Leninism, Engels, Stalinism and revolution.
Haha yea, definitely a bit at a time type thing. But like a good book I could not put it down. Showed it to my buddy and next thing he knew it was 11:30 at night and he was out on his porch yelling at the night about how all this works.
Like I said, worth the time. A good history on the running battle between the people and “federal” banks.
Lets put it this way, when I got through it I was shocked, and believe everyone should watch it to truly understand what has doomed us for a very long time. After this you will understand where Jackson was coming from.
“You are a den of vipers. I intend to rout you out and by the Eternal God I will rout you out. If the people only understood the rank injustice of our money and banking system, there would be a revolution before morning.”
— Andrew Jackson
As I mentioned earlier, he said it 1963 and certainly not in a formal speech.
Still no luck finding out what the Fed did with their profit?
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