The Fed

[Oddball]

I agree. But it can't be done over night. It would have to be phased out over at least a decade. If we ended it abruptly, it would send this country into a depression. A long deep, dark one. And cause catastrophic damage to many of our allies economies.

But what we could do, is just stop borrowing from it, unless there's an actual emergency. And I mean a major emergency. Like a multi-state hurricane, or an attack from another superpower. Funding Israel or Ukraine wouldn't be considered an emergency (IMO)

But phasing it out by simply not using it, would be a great start.

Were the slaves freed after the civil war in dribs and drabs?

People inherently know how to be free....Free them now and all at once.

 

[Oddball]

Inflation will always be with us. We’re the strongest economy in the world and the ups and downs have been less severe. Debt will also always be a thing. The answer is growth, technology and education, not going back to the 19th century.

Thanks for that, auntie Janet.

 

[konradv]

Were the slaves freed after the civil war in dribs and drabs?

People inherently know how to be free....Free them now and all at once.

Idiot!

 

[gipper]

Idiot!

Why?

 

[Oddball]

Idiot!

 

[konradv]

View attachment 851659

Do you ever have an idea of your own or do you just scan pages of memes that tell what to feel?

 

[gipper]

Do you ever have an idea of your own or do you just scan pages of memes that tell what to feel?

But they are funny and on point.

 

[Oddball]

Do you ever have an idea of your own or do you just scan pages of memes that tell what to feel?

I do know that you know fucking nothing about the nature of worthless fiat currencies and high finance....So GFY.

 

[22lcidw]

Prior to the Fed we had full blown Depressions about every ten years

You want that again?

That is not true. However, the people who pushed to have a fiat currency and own the Federal Reserve which is what they named it, said there would be no recessions or depressions. 1913...we then went right to war...the Fed printed currency out of the wazoo in the 1920's as it was called the Roaring 20's. They tightened late in 1929 and were too harsh with a nervous stock market. The Great Depression ensued followed by another war.

 

[YoursTruly]

Were the slaves freed after the civil war in dribs and drabs?

People inherently know how to be free....Free them now and all at once.

Well, as much as I agree with what your saying, I see no point in throwing the baby out with the bath water.

The Fed system, at one time, allowed for the greatest expansion of this country, and helped to make it one of the richest, most productive countries in the world. Everything from helping small companies grow into major corporations to allowing people to buy a home, nice cars, toys like atv's and boats.

The major problem with the Fed didn't start until the government started abusing it. Treating it like an unlimited credit card. All the way up to about the 70's and then into hyperdrive in the 80's, the fed kept a close eye on the USD value. That was their main objective. Back then, our currency was a lot closer to the yen and the peso. Meaning we could still produce products here that the rest of the world could afford.

If we could return to a Fed that operated that way, and get rid of these big spending politicians, we wouldn't need to end the fed.

Ending the fed would force many of our allies to move over to BRICS.

 

[Oddball]

Well, as much as I agree with what your saying, I see no point in throwing the baby out with the bath water.

It's Rosemary's baby.

 

[YoursTruly]

It's Rosemary's baby.

Now. But history has proven that the way it was, before the 70's and 80's, was a damn good system. But now it's more like our politicians are heroin (money) addicts. And the Fed is the dealer.


BTW, the movie scared the crap out of me when I was a kid.

 

[eagle7-31]

Prior to the Fed we had full blown Depressions about every ten years

You want that again?

Remember 1929 AFTER the fed was created?

 

[Oddball]

Now. But history has proven that the way it was, before the 70's and 80's, was a damn good system. But now it's more like our politicians are heroin (money) addicts. And the Fed is the dealer.


BTW, the movie scared the crap out of me when I was a kid.

Was never a good system....It allowed banksters to create money out of thin air, lend it out, then collect interest on that which cost them nothing to create.

lt has been a huge scam from the jump....Needs to be done away with post haste.

 

[bendog]

Just to give an example of how deeply corrupted our system of government is, here's a question about the fed that opened my eye's several years ago.

The US constitution grants the congress the authority to create money without interest. So why does it borrow from the Federal Reserve, with interest. This was a question a 12yr old asked a politician several years ago. It's on Youtube. I've spent over and hour trying to find it. But it's either buried or they've removed it.
Update: I think this is the girl. (She's Canadian. But their system is about like ours)

Isn't it ironic that AOC wants to do the same thing. Have congress and the potus in charge of how much money we create AND interest rates. It makes simplistic sense, but no thanks, because it'd be worse than what we have now. (see next paragraph)

AND the fed does NOT technically create money. It raises/cuts interest rates and the cost of borrowing, which has the effect of more, OR Less, money. The controversey that began with the Great Recession, and continued throughout Trump and into Biden's presidencies is the Fed's DIRECT purchase of US govt debt. But simply letting congress create as much money and at what rates people get ..... as Milton Friedman said in a youtube is Keynes in a nutshell.

 

[Oddball]

Isn't it ironic that AOC wants to do the same thing. Have congress and the potus in charge of how much money we create AND interest rates. It makes simplistic sense, but no thanks, because it'd be worse than what we have now. (see next paragraph)

Unconstitutional, since "money" is specifically to be coin, per article 1, section 10.

AND the fed does NOT technically create money. It raises/cuts interest rates and the cost of borrowing, which has the effect of more, OR Less, money. The controversey that began with the Great Recession, and continued throughout Trump and into Biden's presidencies is the Fed's DIRECT purchase of US govt debt. But simply letting congress create as much money and at what rates people get ..... as Milton Friedman said in a youtube is Keynes in a nutshell.

It does create money....Congress sends them Treasuries, which authorizes them to create the "money" out of thin air....Until lately, the Treasuries have been sold to outside entities like the CCP.

We're suffering the inflation now because the Fed is buying those Treasuries, and they have to raise the interest rates on the money it cost them nothing to create, in order to run cover for the scam.

 

[bendog]

Unconstitutional, since "money" is specifically to be coin, per article 1, section 10.

It does create money....Congress sends them Treasuries, which authorizes them to create the "money" out of thin air....Until lately, the Treasuries have been sold to outside entities like the CCP.

We're suffering the inflation now because the Fed is buying those Treasuries, and they have to raise the interest rates on the money it cost them nothing to create, in order to run cover for the scam.

I surrender. Milton Friedman and his wife wrote a book .....

 

[bendog]

Unconstitutional, since "money" is specifically to be coin, per article 1, section 10.

It does create money....Congress sends them Treasuries, which authorizes them to create the "money" out of thin air....Until lately, the Treasuries have been sold to outside entities like the CCP.

We're suffering the inflation now because the Fed is buying those Treasuries, and they have to raise the interest rates on the money it cost them nothing to create, in order to run cover for the scam.

I don't mean to be snarky, and I apologize. You are absolutely correct that the Fed purchased private bonds in the Great Recession, and has been trying (maybe with only half a heart) to stop. That's the inflation angle.

Since 1951 to the Great Recession, the Fed does (and still does) buy treasuries. It does this to "stabilize" the cost of borrowing money. The problem it has is inflation itself is harmful to stabalizing the cost of borrowing. And now with deficits out of control ..... it's in a cycle.

The problem is ..... how could anyone possibly trust the two parties to control the cost of money? I'm not attempting to defund the mess the fed got into when unemployment was going down and the econ was growing under both Obama and Trump

 

[Oddball]

The problem is ..... how could anyone possibly trust the two parties to control the cost of money?

You can't....That's why we're in the mess we are today.

 

[Oddball]

I surrender. Milton Friedman and his wife wrote a book .....

So did a guy named G.Edward Griffin....Here's his presentation on it and a thumbnail of how the Fed really works.