Derideo_Te
Je Suis Charlie
- Mar 2, 2013
- 20,461
- 7,961
I guess Peach missed the irony of the 10th Commandment being 180 degrees out of sync with the unfettered capitalism that has made this nation great.
What was that drivel about the Founding Fathers basing the BoR on the 10 Commandments again?
So how come they didn't outlaw consumerism and capitalism?
Yet another crash and burn for the bible bashers distortions about the founding of this nation.
It went over head about Credit, which is what I was referring to.
Progressives - founded the Federal Reserve
Federal Reserve issued credit so that people did not know anything all about the stock market could get into trading on Wall St. Then came the crash.
Then came the credit cards and we now have $916.6 Billion in credit card debt.
All created by Progressives.
Why am I not in the least bit surprised to discover that you are just as ignorant about how capitalism and finance actually work in this nation?
It wasn't the Federal Reserve extending credit for those predatory subprime mortgage scams. That funding came directly from the republican deregulated Wall Street Casino banks.
And no, I don't expect you to understand the difference and you are not paying me to educate you either.
You obviously get all of your disinformation from extremist rightwing sources that have zero credibility.
Of course you wont see it.
Anyone who has an opposing view point than yours is wrong, uneducated or stupid. (A true progressive, my way is only right)
You are one getting your disinformation from the extreme left wing sources.
I have gotten mine from actual history books not misinform from the internet.
Who wrote those books of yours? Ann Coulter?
I have decades of experience in the financial sector. The Federal Reserve doesn't issue credit to individuals. It lends money to banks and holds reserves for them against potential losses.
Thank you for disqualifying yourself utterly and completely on this topic.
Have a nice day.
I don't read Ann Coulter
You speculate and assume too much.
Federal Reserve System: The Concise Encyclopedia of Economics | Library of Economics and Liberty
The original Federal Reserve Act became law in December 1913. The “Federal” in the title implied that the law applied to the whole country, and “Reserve” emphasized the new institution’s role as a reserve holder and reserve supplier for the commercial banking system. The twelve regional Federal Reserve Banks, according to the Federal Reserve Act, were “to furnish an elastic currency” by
discounting notes, drafts, and bills of exchange arising out of actual commercial transactions.. . . The time, character, and volume of sales of [this eligible] paper . . . shall be governed with a view to accommodating commerce and business and with regard to their bearing upon the general credit situation of the country.
under Democratic sponsorship, the new institution could be an autonomous group of regional reserve-holding supercommercial banks, and the act passed through Congress in this guise.
How much of that did you comprehend?