The Creation of the Federal Reserve System

It proves that The Fed "prints" currency.

QE 1 and 2 prove you wrong. Lots of private sector individuals recieved Fed created currency during those transactions.

 

Why is that at all relevant?

The negative effects The Federal Reserve or any central bank for that matter has on a monetary system is self evident. Why is the creation of the evil empire being debated?

 

Lol, you are making things up. Not a single private sector individual received a single dollar from QE1 and QE2.

I have never argued against the fact that the Fed creates a form of money out of thin air.

 

control is relevant to the constitution, among other things

despite the political propaganda you espouse, the federal reserve has helped make our country the world's economic leader

 

You do understand that QE1 and 2 was The Fed creating money and purchasing bonds from private investment banks correct?

We have already established were control lies. The illusion of control rests with the Treasury, actual control rests with The Fed.

Central banking has saddled the global economy with an unprecedented debt. I suppose when the whole world is in the (*)(*)(*)(*), being less covered in (*)(*)(*)(*) is considered being an economic leader.

 

Fine, let me clarify, none of QE1 or QE2 landed in the hands of the nonbank public. And none of QE1 or QE2 can be spent in to the private economy by the banks.

 

no you haven't, you've established that you embrace false propaganda over reality

of course all you can come up with is a conspiracy theory

do you also think that president wilson was a most unhappy man for having unwittingly ruined this country by signing the federal reserve act?

 

The Young Turk shuts off Peter Schiff's mic because he can't handle the truth.

Maybe one of these decades, you statists will actually accomplish your goal of electing representatives who will appoint officials who will work for the people. I don't believe you really want that because anyone with common sense knows that the money manipulators have the power.

[ame="http://www.youtube.com/watch?v=t31ZOlj9Hk4"]http://www.youtube.com/watch?v=t31ZOlj9Hk4[/ame]

 

Control comes from Congress, aka the people who represent the Country. Congress sets a budget, they vote on stimulus, on taxes, etc. Everything else is the Fed and the Treasury figuring out ways of controlling the spending and taxes Congress approves.

The Fed has very little control other than control of your head.

 

Peter Schiff was 100% wrong on what was going to happen after the bust he predicted. In fact he was so wrong, that his conclusions in hindsight are laughable.

Whenever there is a bust the Austrian's will be right, because they are predicting a bust will happen every day of their lives... lol

 

They aren't talking about the bust. They are talking about the bailouts. The statist is blaming the bankers for "buying the regulators." If you take away the power of the central planners, then the bankers and mega-corporates have no one to buy off or to run to for a bailout. The Fed is responsible for the corporatism.

 

Let me ask you this to gauge your knowledge of the economic system. If the Fed themselves can bail out the banking system than why did they need a tax payer bailout also?

 

cenk uygur is the one telling the truth, peter is ranting like a lunatic, which he is

peter stiff is irwin schiff's son (both are raving nut cases), who's currently in prison for tax fraud

 

He exaggerated - he was not 100% wrong.

And considering you were wrong about raising both taxes and government spending being necessary for a recovery from a depression/recession AND you are wrong about your above theory about the Fed...I would not brag were I you.

 

I don't talk to people who ask for evidence than run away like a little baby. You are the epitome of a stubborn uneducated individual. Please leave me alone, thank you!

 

like broken clocks, their propagandistic political strategies are obvious

 

The worst are the ones like Peter Schiff who profit off this "end of the world" rhetoric by taking the very money that he is saying is worthless. It is hilarious!!

 

You are showing your ignorance. QE1 and 2 was money for bonds with no strings attached. Banks can spend them into the private economy if they so choose.

I do not think you are an authority on reality judging by your posts. You seem to be a bit Utopic.

No, the negative effects of that decision are apparent....I have no need to concern myself with the feelings of a dead man.

Do you think Congress would pass the spending that it does without an entity that can simply create money out of debt?

Oh? Do you honestly believe that to be true? If that were the case FOMC decisions should have little effect on the global economy, but that is obviously false.

lol, correcting your utopic misinformation is hardly propaganda.

 

that just shows how mistaken you are, in reality i know utopia to be imaginary

 

You are showing your ignorance. Banks can not spend reserves. They can not lend reserves. If you want to be educated on how the banking system and Federal Reserve works, let me know!

Yes, I don't think Congress cares one bit about the Fed. The Government does not need the Fed to make money for them to spend. The Government has to spend for the Fed to make money, get it?

 

cenk uygur doesn't have a flocking clue what he's talking about; Peter Schiff is correct.

He's correct that virtually no one paid the punitive 70-90% tax rates that he's claiming they did in the past - and I've posted repeatedly with definitive cites proving the case: AMT did not exist back then; you could deduct business losses against personal income back then (and cannot now), deductions were numerous and easy to use.

None of that is the case now. We are taxing MORE than we have ever taxed before, and the rates that we cannot escape as a population are hitting lower income levels with higher payments than they ever have before.

Cenk talks about "we'll have other people look into it"? Sure we will, cenk. I bet you never bring it up again without shutting off the mic of someone telling you the truth.

Schiff is also correct about the problem being the politicians having the power to influence the system. Blaming bankers and corporations for taking advantage of a system which is both corruptible and powerful enough to be able to skew the economic playing field is like blaming an apple for falling from a tree and hitting you in the head, when the real culprits are gravity, and your stupidity for walking under the tree.

You leftists really need to delve into the truth of ACTUAL tax payments, and simply parrot stupid leftist lies merely because you see formerly high top marginal rates that really didn't mean anything in actual practice.

 

no, he's a raving nut case, like his father

after peter came in last place in the connecticut senatorial race, he gave a speech on you tube about how well he did in the election

Irwin Schiff has always proclaimed himself to be the "Nations leading authority on the Federal income tax". Ironically Schiff filed a brief in the District Court of Nevada claiming "Insanity" in his defense for failing to pay his Federal Income Taxes! He contends he suffers from a mental disease or defect and exhibits symptoms of chronic severe delusional personality disorder!

http://evans-legal.com/dan/tpfaq/schiff_opp_sj.pdf

 

None of this answers what I said about Schiff's statements. You didn't even attempt to take on my statements about actual levels of tax collection versus the façade of top marginal rates - which essentially mean nothing in reality.

 

this thread is about the federal reserve, not taxes