The great depression was a pretty significant fluctuation! IMO, we trade natural market fluctuations for artificial easing until disaster in the end. When we let the markets seek value, the free market clears out that which would otherwise lead to eventually much worse problems/disaster down the road.
The banks pay massive taxes to the Federal government. Not sure how the Fed transfers money in the other direction.
I don't know either, but I'm starting to see them as "bagmen" for the big banks and the powerful elite. Not just the Fed, but all central banks in 187 countries. There are many many ways the rich and powerful benefit. Just a few basis points of spread on any of the large FOREX exchanges means billions daily to those who have an inside track.
The Internet created the “dotcom bubble”
Agree, anything new takes time to work out the expectations vs. reality.
#20 The Federal Reserve is supposed to “regulate” the big banks...
Right
#21 The Federal Reserve was designed to be a perpetual debt machine.
The Fed was designed to be a integral part of the "machine"; an agent assigned to look after the dirtier needs of the state, IMO.
We need to spend less, a lot less.
For real!
Because Congress created them to do that.
Yep, but that doesn't let Congress off the hook from failing to do their Constitutional duty by creating an unconstitutional entity.
Such as?????
Such as removing the financial system away from the central government and into the hands of the people like speech, religion, and self-defense.
A lender of last resort is very useful. Why is that bizarre?
Because, just as we're seeing now, it becomes the all powerful lender, destroying all others, and the people dependent upon it for their very survival. In the end, its inefficiency through centralized control and bungling causes the ugly destruction of both itself and that of any society which grows to depend upon it to remove "the pain", like drug addiction.
What we're seeing now has happened time and time again throughout the history of man. The cycle is repeating again but this time on a worldwide scale.
I didn't say it was a "perfect" article. :)
Yes it was. Panics like that used to occur every 20 years or so, pre-Fed.
I don't know either, but I'm starting to see them as "bagmen" for the big banks and the powerful elite.
Not sure what you mean. The Fed is currently earning 10s of billions that would have been earned by the banks, absent QE.
Just a few basis points of spread on any of the large FOREX exchanges means billions daily to those who have an inside track.
Inside track? You mean like when Citibank trades with JPMorgan, and one profits, one loses?
#20 The Federal Reserve is supposed to “regulate” the big banks...
Right
The Fed regulates the banks, now more than ever.
Yep, but that doesn't let Congress off the hook from failing to do their Constitutional duty by creating an unconstitutional entity.
What makes you think the Fed is "an unconstitutional entity"?
Because, just as we're seeing now, it becomes the all powerful lender, destroying all others,
Which lenders did the Fed destroy?
What we're seeing now has happened time and time again throughout the history of man. The cycle is repeating again but this time on a worldwide scale.
Yes, cycles before the Fed, cycles after the Fed.
I didn't say it was a "perfect" article. :)
Like most such articles, a few facts and many, many errors.