[groanup]

The Federal Reserve Banks and the large national Banks are nothing but snakes, the lot of them

So are you saying that before the Federal Reserve charter and before the relaxatioin of banking merger laws we never had boom/bust cycles?

[dollarbull]

Before fractional reserve lending we did not have boom and bust cycles.

The Fed is the 4th central bank of the US, and Europe has had them since the 17th century.

100% reserve requirements and a gold standard will stop the boom/bust cycle.

[HamiltonJay]

No, I’m saying the that before the Federal Reserve Charter, we had a lifetime inflation from 1776 to 1913 of about 8% total (not annually... TOTAL)... and a boom or bust that averaged once a decade.

The Federal Reserve system was created with the promise that it would stop inflation and mitigate downturns. Well since its found we’ve had the worst depression in our history, averaged downturns still about once per decade and have had an inflation rate of 2116% since 1913.

So 8% inflation over 137 years, and over 2000% in the following 95 years... Yea the Fed’s really done its job alright.