Why I don't take anti-Federal Reserve propaganda seriously
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05-04-2012, 08:51 PM
Why I don't take anti-Federal Reserve propaganda seriously
One, the people who spread these wild claims say demonstrably wrong things;

For example:

The Fed never gets audited, except that it does, regularly and in several different ways. For an example:

http://www.federalreserve.gov/monetarypo...mt2011.pdf


The Fed keeps the interest from the Treasury bonds it buys, except that by law it has to reimburse most of its earnings back to the Treasury, and it tells us how much:

http://www.federalreserve.gov/newsevents...10110a.htm

I could go on, but you've probably heard similar nonsensical, checkable assertions from people who should know better. No doubt they have acted upon the ignorance and urban legends about money promoted by "Austrian economists."

And two, the Fed's way of doing things, which has a theoretical justification called Chartalism or Modern Monetary Theory, has some interesting arguments in its favor:


SEVEN DEADLY INNOCENT FRAUDS OF ECONOMIC POLICY
WARREN MOSLER

http://moslereconomics.com/wp-content/po...s/7DIF.pdf


Basically Chartalism holds that the state creates money by creating the need for it through taxation. Taxes serve as an economic regulating mechanism instead of a source of founds for the government. Mosler gives the example of a British colony in Africa some decades back, where the colonial government wanted to hire the natives to grow certain crops, but the natives wouldn't take the jobs. So the government levied a tax on the natives' huts which they had to pay with British coins. What do you know, the natives then took the farm jobs to earn the coins to pay the tax. Our Federal Reserve Notes work in basically the same way, and Mosler points out counterintuitive consequences, for example, that deficit spending doesn't deplete savings, but instead creates them, an empirical fact based on straightforward accounting, or so Mosler argues. You should read it and decide for yourself.

In other words, don't take the Fed-hating cranks' assertions at face value without (1) investigating them, and (2) seeing what the other side has to say in defense of its policies.
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05-04-2012, 10:51 PM
RE: Why I don't take anti-Federal Reserve propaganda seriously
You do realise that the Federal Reserve is not federal nor does it have reserves. It is a private company (thus not federal) and it only prints out new money and bonds, without having the collateral in gold, or something similar (thus not reserve). The links you gave here are FROM http://www.federalreserve.gov and that is all we need to establish the unbiased numbers of those accounts...

Believe what you want, but we are all slaves to the World bank, and Federal Reserves is Ground Zero for World Bank domination of financial world.

The leading money printer can not be a private company, never, in no circumstances, ever!

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06-04-2012, 02:32 AM
RE: Why I don't take anti-Federal Reserve propaganda seriously
We've been infiltrated! He's a Fed! Run!

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02-06-2012, 07:41 PM
RE: Why I don't take anti-Federal Reserve propaganda seriously
(05-04-2012 10:51 PM)Filox Wrote:  You do realise that the Federal Reserve is not federal nor does it have reserves. It is a private company (thus not federal) and it only prints out new money and bonds, without having the collateral in gold, or something similar (thus not reserve). The links you gave here are FROM http://www.federalreserve.gov and that is all we need to establish the unbiased numbers of those accounts...

Believe what you want, but we are all slaves to the World bank, and Federal Reserves is Ground Zero for World Bank domination of financial world.

The leading money printer can not be a private company, never, in no circumstances, ever!
Sorry, you don't get it. The Fed creates credits on future tax obligations, according to Modern Monetary Theory. The governments "prints money" when it spends Fed notes, and it "unprints money" when it takes Fed notes back as payment for taxes.
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02-06-2012, 09:30 PM
RE: Why I don't take anti-Federal Reserve propaganda seriously
How'd this dead topic come back to life? Lookit. The Fed sux. End of story. Tongue

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03-06-2012, 01:48 AM
RE: Why I don't take anti-Federal Reserve propaganda seriously
I just wanted to open a new thread, but this one will do just nicely...

http://www.youtube.com/user/wearechange?feature=watch

There, chew on this, do some research about the Bilderberg group and then, please do continue with defending of it.

These journalists should have 10 Pulitzers and Nobel prizes for the balls they have.

Oh, you don't believe in the Bilderberg meetings? Oh, OK then, so all these videos are made up and there is no Bilderberg group, secret meetings, media cover-ups... Sweet.

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03-06-2012, 11:55 AM
RE: Why I don't take anti-Federal Reserve propaganda seriously
(05-04-2012 08:51 PM)advancedatheist Wrote:  In other words, don't take the Fed-hating cranks' assertions at face value without (1) investigating them, and (2) seeing what the other side has to say in defense of its policies.
It is the same you know so little about the Federal reserve and the Nature of our monetary system - and I'll prove it to you.

Answer this question: What would happen if every corporation, business and family in America paid back all of their debts such that they had Zero (0) debt?
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04-06-2012, 07:25 AM (This post was last modified: 04-06-2012 07:33 AM by Scarlet Pimpernel.)
RE: Why I don't take anti-Federal Reserve propaganda seriously
(02-06-2012 07:41 PM)advancedatheist Wrote:  
(05-04-2012 10:51 PM)Filox Wrote:  You do realise that the Federal Reserve is not federal nor does it have reserves. It is a private company (thus not federal) and it only prints out new money and bonds, without having the collateral in gold, or something similar (thus not reserve). The links you gave here are FROM http://www.federalreserve.gov and that is all we need to establish the unbiased numbers of those accounts...

Believe what you want, but we are all slaves to the World bank, and Federal Reserves is Ground Zero for World Bank domination of financial world.

The leading money printer can not be a private company, never, in no circumstances, ever!
Sorry, you don't get it. The Fed creates credits on future tax obligations, according to Modern Monetary Theory. The governments "prints money" when it spends Fed notes, and it "unprints money" when it takes Fed notes back as payment for taxes.

Sorry, YOU don't get it my friend: your Modern Monetary Bullshit Theory – which is the Fed's leading principle, according to you – created a totally bankrupt USA (13 trillion debt!*), although that ice cold fact still hasn't sunk in, as you prove. It is also responsible – together with Wall Street – for creating a global economic crisis the likes of which the world has never seen before, causing abject misery, suffering, and death for millions upon millions of people who had no part in it. Inside and outside the USA.

* 1) the USA will be paying off this debt for over three hundred years (your kids will be grateful when it dawns on them...)! And 2) America is now owned by China. Literally. Because America cannot pay its debts. So now we wait for the inevitable foreclosure on America...
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04-06-2012, 09:43 AM
RE: Why I don't take anti-Federal Reserve propaganda seriously
Well, it is prophetic times. It's entirely possible that the Trilateral fucks manufactured the economic crisis as a best case scenario. Well, after spawning consumptive capitalism. Can't see them as totally innocent. Tongue

But they're not evil, rather that the human race in general is neither intelligent nor willful. Peeps only get away with what we let them get away with.

It's not that there are too many people on the planet. It's that there are too many people on the planet without the infrastructure nor the logistical experience. We could be on this place like e coli, if we were smart monkeys.

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04-06-2012, 10:31 AM
RE: Why I don't take anti-Federal Reserve propaganda seriously
(04-06-2012 09:43 AM)houseofcantor Wrote:  But they're not evil, rather that the human race in general is neither intelligent nor willful. Peeps only get away with what we let them get away with.

Wake up: if you are obscenely rich and you are willfully planning to get even richer at the expense of dirt poor masses in abject misery, then you are the personification of EVIL to humanity, and deserve to be treated as such.
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