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View Poll Results: What are your views on the Federal Reserve?
We shouldn't have Fed or any central bank 8 72.73%
We should keep Fed, but modify policy/oversight 2 18.18%
I fully support current Federal Reserve 1 9.09%
I don't know 0 0%
Voters: 11. You may not vote on this poll

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Old 09-01-2013, 02:08 AM   #26
dnno1
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Default Re: The US Federal Reserve Thread

Quote:
Originally Posted by Hemi'Cuda View Post
A commodity-based currency, such as gold, is the answer to inflation. Who says governments should be the ones with a monopoly on currency? In a true free-market economy, money will arise as the need arises. There could, quite possibly, be multiple exchanges of money. It's when governments get ahold of the purse when the corruption is ramped up.
You go back to a gold standard and you just set yourself up for opportunists to corner the market on gold or whatever commodity you base your currency on. That's kind of dumb. By the way:

Column: Gold still not the best inflation fighter
http://www.reuters.com/article/2013/...96F0RO20130716

Also:

Commodities Are Poor Inflation and Currency Hedges
http://www.minyanville.com/businessm.../2010/id/26780

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Old 09-01-2013, 05:21 AM   #27
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Default Re: The US Federal Reserve Thread

A commodity based currency is an appalling idea, because control over supply, value and ergo inflation will always be out of your hands; and the economy can't grow without deflation. Commodities are openly traded on markets across the globe; what happens if your currency gets shorted? In the modern world, value is not reliably consistent with supply:



There are sound reasons why the gold standard is no longer used.

EDIT: Sorry, dnno1, I didn't notice we were on to a new page and that you had already beaten me to it!

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Last edited by regwec; 09-01-2013 at 05:36 AM. Reason: Clarity
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Old 09-03-2013, 09:57 AM   #28
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Default Re: The US Federal Reserve Thread

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Originally Posted by Hemi'Cuda View Post
Is completely fallacious to say that Hoover didn't believe in government intervention, yet this is what so many historical accounts say about the period. In 1931, Hoover proposed to:
Establish a Reconstruction Finance Corporation, which would use Treasury funds to lend to banks, industries, agricultural credit agencies, and local governments;

Broaden the eligibility requirement for discounting at the Fed;

Create a Home Loan Bank discount system to revive construction and employment measures which had been warmly endorsed by a National Housing Conference recently convened by Hoover for that purpose;

Expand government aid to Federal Land Banks;

Set up a Public Works Administration to coordinate and expand Federal public works;

Legalize Hoover's order restricting immigration;

Do something to weaken "destructive competition" (i.e., competition) in natural resource use;

Grant direct loans of $300 million to States for relief;

Reform the bankruptcy laws (i.e., weaken protection for the creditor).

Hoover also displayed anxiety to "protect railroads from unregulated competition," and to bolster the bankrupt railroad lines. In addition, he called for sharing-the-work programs to save several millions from unemployment.

Hardly what one might call non-interventionist in economic terms, wouldn't you say? Most of FDR's New Deal, in terms of his first few years in office, were continuations of the Hoover Administration's policies.
A lot of the crap that Hoover proposed never got enacted. It wasn't until 1931 that Hoover tried to do some thing of significance towards the depression and this is what he told the nation what he would do:

VIDEO-CLick to Watch!:


He pretty much told the states, community organizers, businesses and charities to ante up to help the poor people during the winter. Where was the government aid or spending? Why did he wait until 2/3rds of the depression had transpired to do anything?

Quote:
Originally Posted by Hemi'Cuda View Post
The 1937–1938 dip was not the product of tight fiscal and monetary policy, but of excessive government regulation and loose monetary policy. We must clear away the misconception that, without deficit spending and easy credit, the market will fail. This is the fallacy of Keynesian economics, which is the reason why his policies failed...because they cling to a false since of economic reality. Wealth cannot be obtained by simply printing money. The Great Depression is a perfect example of that.
No, conservatives took over congress and persuaded FDR to raise taxes in the middle of a recovery. That's what caused the dip. Regulations like the Glass-Stegall Act of 1933 and the Securities Exchange Act of 1934 prevented the United States from suffering from a major recession (lasting more than 3 years) for more 70 years. In fact, its is only because these laws were weakened that we started having the the trouble that we have right now.


Quote:
Originally Posted by Hemi'Cuda View Post
This should be no surprise to anyone who has studied the reality of the Great Depression, for US Census Bureau statistics show that the official unemployment rate was still 17.2% in 1939 despite seven years of "economic salvation" at the hands of the Roosevelt administration (the normal, pre-Depression unemployment rate was about 3%). Per capita GDP was lower in 1939 than in 1929 ($847 vs. $857), as were personal consumption expenditures ($67.6 billion vs. $78.9 billion), according to Census Bureau data. Net private investment was minus $3.1 billion from 1930–1940.
I don't think anyone could expect to have unemployment go away over night, but if you want to look at the statistics, you will see that employment did drop by 43% from the period of 1933 (when it was at its highest at 24.75%) to 1937 (when it was at 14.18%), yes it did go back up to 17.05% in 1939 but if you compare it to 1933 it was still a 31% difference (which is nothing to shake a stick at) that issue was corrected within 2 years such that the rate went down by the time the United States entered the war in 1941.

Quote:
Originally Posted by Hemi'Cuda View Post
FDR’s tripling of taxes, his regulation of business, and his relentless [anti-business] propaganda also contributed to a worsening of the Great Depression, but his labor policies were probably the most harmful to the employment prospects of American workers. Taking money from people (by the way of taxes and inflation via the Fed) and giving a small portion back to them in order to dig holes and fill them back in is hardly productive.
You have to remember that it was the deregulation of the roaring 20's that messed things up in the first place and to policies of FDR and his new deal helped the nation to climb out of that hole. It didn't make it worse. Remember employment was going down and the economy was in recovery for most of FDR's term in office.

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Old 09-03-2013, 09:59 AM   #29
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Default Re: The US Federal Reserve Thread

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Originally Posted by regwec View Post
A commodity based currency is an appalling idea, because control over supply, value and ergo inflation will always be out of your hands; and the economy can't grow without deflation. Commodities are openly traded on markets across the globe; what happens if your currency gets shorted? In the modern world, value is not reliably consistent with supply:



There are sound reasons why the gold standard is no longer used.

EDIT: Sorry, dnno1, I didn't notice we were on to a new page and that you had already beaten me to it!
No problem. This is still a good post and it looks at the issue in another light.

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Old 09-09-2013, 02:01 PM   #30
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Default Re: The US Federal Reserve Thread

Quote:
YOU MUST SEE THIS!: Karen Hudes World Bank Whistleblower...

This is Greg Hunter's interview with Karen Hudes. She is a World Bank whistleblower.
VIDEO-CLick to Watch!:

https://www.youtube.com/watch?v=owanSt6XnmM

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Old 09-09-2013, 03:01 PM   #31
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Default Re: The US Federal Reserve Thread

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What gets me is that she isn't on Wikipedia. Must not be that much of a celebrity.

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Old 10-19-2013, 07:47 PM   #32
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Default Re: The US Federal Reserve Thread

Biggest Scam in History of Mankind
http://www.youtube.com/watch?v=iFDe5kUUyT0

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Old 10-20-2013, 12:06 AM   #33
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Originally Posted by SentinelMind View Post
Biggest Scam in History of Mankind
http://www.youtube.com/watch?v=iFDe5kUUyT0
Thanks for posting this. I was trying to find this thread to posti it myself but couldn't so. Now just wait till "Dnno1" comes and rip apart the facts the video talks about. I can't believe there is a sane person out there defending money schemers like Federal Reserve and bank institutions and not realizing the harm they cause to society and in people's lives.

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Old 10-20-2013, 03:38 AM   #34
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Default Re: The US Federal Reserve Thread

VIDEO-CLick to Watch!:

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"You can leave a penny, you can't take a penny. You can leave a penny anytime. You have to spend $10 to take a penny. Store policy."
"Since when has this been store policy?"
"Uh, since my boss made up the policy. You gonna pay? You're holding up my line of one other person. You can't afford your milk, step aside. What, daddy didn't give you enough milk money? Little baby gonna cry about it? Just step aside."
And that is how Uncle Ben dies.
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Old 10-20-2013, 05:15 PM   #35
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Default Re: The US Federal Reserve Thread

Quote:
Originally Posted by chaseter View Post
VIDEO-CLick to Watch!:
That video has been debunked. It's more of "The Greatest Spam in the History of Mankind" since it is actually selling gold. If you want to learn more about how the Federal Reserve works try this link.

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Old 10-20-2013, 05:39 PM   #36
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Default Re: The US Federal Reserve Thread

Quote:
Originally Posted by dnno1 View Post
That video has been debunked. It's more of "The Greatest Spam in the History of Mankind" since it actually selling gold. If you want to learn more about how the Federal Reserve works try this link.
Really you believe that FR prints money according to the gold it holds? Am I getting this right?

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Old 10-20-2013, 06:46 PM   #37
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Originally Posted by Alex_Spider View Post
Really you believe that FR prints money according to the gold it holds? Am I getting this right?
I never said that and you should click on the link that shows you how the Federal Reserve Works. The nonfactual video that is being floated around is actually trying to sell gold.

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Old 10-20-2013, 09:23 PM   #38
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Default Re: The US Federal Reserve Thread

That makes it all untrue?

The guy who wrote that founded an investment group. What do you want to bet that their portfolio contains government bonds? A lot of people make a lot of money off of selling gold and selling government bonds.

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"You can leave a penny, you can't take a penny. You can leave a penny anytime. You have to spend $10 to take a penny. Store policy."
"Since when has this been store policy?"
"Uh, since my boss made up the policy. You gonna pay? You're holding up my line of one other person. You can't afford your milk, step aside. What, daddy didn't give you enough milk money? Little baby gonna cry about it? Just step aside."
And that is how Uncle Ben dies.
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Old 10-21-2013, 11:23 AM   #39
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Default Re: The US Federal Reserve Thread

Some of you are willfully ignoring what dnno is telling you.

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Old 10-21-2013, 12:30 PM   #40
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Default Re: The US Federal Reserve Thread

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Originally Posted by regwec View Post
Some of you are willfully ignoring what dnno is telling you.
Amen.

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Old 10-21-2013, 10:27 PM   #41
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Originally Posted by regwec View Post
Some of you are willfully ignoring what dnno is telling you.
That everything is great and nothing is ever fishy.

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"You can leave a penny, you can't take a penny. You can leave a penny anytime. You have to spend $10 to take a penny. Store policy."
"Since when has this been store policy?"
"Uh, since my boss made up the policy. You gonna pay? You're holding up my line of one other person. You can't afford your milk, step aside. What, daddy didn't give you enough milk money? Little baby gonna cry about it? Just step aside."
And that is how Uncle Ben dies.
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Old 10-21-2013, 11:34 PM   #42
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Default Re: The US Federal Reserve Thread

What's fishy is that video.

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Old 10-21-2013, 11:50 PM   #43
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Default Re: The US Federal Reserve Thread

I did buy a lot of gold.

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"You can leave a penny, you can't take a penny. You can leave a penny anytime. You have to spend $10 to take a penny. Store policy."
"Since when has this been store policy?"
"Uh, since my boss made up the policy. You gonna pay? You're holding up my line of one other person. You can't afford your milk, step aside. What, daddy didn't give you enough milk money? Little baby gonna cry about it? Just step aside."
And that is how Uncle Ben dies.
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