Rothbard on Mises: Depression Not Inevitable, Result of Central Banks

And George Washington died in 1799. I guess you can cite and dismiss the Founding Fathers as you like.

And what does central banking have to do with the 21st century? Central banks are not an exclusively modern institution. They've been around for centuries.

What is your point even supposed to be?

 

yes, obviously, as evidenced by how quick you picked up on the exponential nature of growth rates. Ask your mommy to bake you some cookies. You deserve it.

 

A plundrous nation of I want your stuff an I don't wanna work for my own

And a plunderous polet bureau who've rigged the system an built

A machine too insure more plunder as long as they can get reelected

With the furtherance of the plunder

 

which is why i refer to him in the context of his lifetime, not current times

money has been around even longer

central banks manage the country's monetary needs, without them you get boom to bust, roller-coaster chaos

you don't make sense

 

I guess I should apologize for making assumptions, but I fail to see why a conservative businessman would be interested in inflating the state's track record... unless you're concept of "conservative" is vastly different than mine. I also shouldn't have said "true liberal", it was meant to be tongue in cheek, but by the traditional definition it's the wrong one to use.

 

To be blunt, I hardly begin to believe that government is in the business of avoiding "disastrous". If the subject were instead war, corporate welfare, or the prison systems, few could remain convinced the state makes the best choices... why would we naively assume it is a saint when it comes to economics? Not to mention, when there is so much special interest involved, it's hard to imagine the government ever actually implementing policy which would benefit the most Americans. Economics is so convoluted lawmakers know the impossibility of voters tying one policy to an upturn or downturn... so they are hardly accountable for their actions in this respect.

 

i'm not interested in inflating the state's track record, i just don't like seeing all the lies told about the federal reserve and such

it usually comes from gold salesmen trying stir up interest in high priced gold, anarchists wanting to topple the government, malcontents and nut cases

here's an example: 'america: freedom to fascism' the movie from aaron russo

in it russo says that president wilson, who signed the federal reserve act into law, later said in regret, "I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world — no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men." - Woodrow Wilson 1919


it isn't true, president wilson was proud of his part in creating the federal reserve

the exerpted quote from above can be seen at the 3:48 mark in the video

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

 

What did anyone lie about the Fed? Isn't the Fed a private bank who has monopoly power to print US dollar and who backstop banks' bad business practices anytime the Fed chose to do so without having anybody aprrovals? QE1, QE2, QE3, ZIRP, currency swap scheme, or put them in simple term "CASH FOR TRASH"??

Oh wait, just pretend that they never happen eh? Classic liberal brainwashed and misguided at its best. Sheep loves to make noises.

 

did you read the post you responded to? (#157)

not really no, the fed was created by congress and has no authority to print money, only the treasury dept has that authority

what private bank gives all of its net-profits to the government?


The Federal Reserve System is not "owned" by anyone and is not a private, profit-making institution. Instead, it is an independent entity within the government, having both public purposes and private aspects.

http://www.federalreserve.gov/pf/pf.htm

you obviously have no clue what you're talking about, i'm a successful, conservative businessman with an education

 

Yes I did. It's usual brainwashed and government propaganda bull(*)(*)(*)(*) from you. I expect nothing less really.

LOL. A routine swing and miss by a misguided liberal. It becomes a routine here. Besides your schoolboy textbook garbage, can you explain how $3 trillion mortgage backed security and Trasheries get onto the Fed balance sheet?

Oh sure troll

 

just admit you're so under-educated and gullible, you have no clue what the facts are about the fed or how it operates and you fall for misinformation and propaganda like some kind of patsy

 

Anyone who reads your garbage would know who is under-educated, misinformed, brainwashed, and misguided person in this thread. Live with it kid. You're exposed. If you think your bull(*)(*)(*)(*) can fool anyone, think again

 

Sure. That's what happens when you couple fractional reserve banking with decades of central banking and greenbacks.

I agree that fractional reserve banking, central banking, and fiat currencies all cause the massive volatilities of inflation and deflation.

 

if i'm under-educated then it should be no problem for you to demonstrate that i'm wrong

let's take this assertion first, the fed is not a private, profit-making institution

show me how that's not correct, with the info source

with who? goldbug propagandists

 

And yet you fail to enlighten us how $3 trillion worth of toxic trash are parked on the Fed balance sheet as we speak.

This must be stupidest post I read on this forum. Your posted one earlier and I let it slipped, but not the second time. I own gold myself. Do yourself a favor, check the gold price before and after QE rampant. Why would I be against QE? If anything, I love Ben The Printer to print more, at a fast and furious pace so my "gold" will be skyrocketing.

No one who owns gold, in their right mind would be against quantitative easing. My guess is beside under-educated, misinformed, misguided and brainwashed, critical thinking is another thing you do not possess eh. Not surprising here.

 

Oh the name calling you guys are like 1st. Graders

My dad will kick your dads azz

Grow up an convey your argument. Please

Goldbug.....goldbug have you any fools yes sir, yes sir,a whole forum full

 

i suppose it's because they bought it

what a joke

i inherited a gold and silver coin collection from my grandfather that came from his grandfather and i added to it quite a bit during the 1970's after gold became legal to hold, so i have quite a bit of gold and silver, but in all this time, it hasn't ever given me any financial return, on the other hand my business and investments have given me quite a good income


i take it that your non-response to the fed profit and ownership issue i presented, indicates you have little to no understanding of how the fed operates and can only parrot propaganda you read on the internet or partisan media outlets

 

You've demonstrated a total lack of reading comprehension. Of course they did. But that was not the point. The point is the Fed is a private bank who has monopoly power of issuing US dollar to backstop banks' bad business practices, and they can do it at anytime without having anybody's approvals.

Thank you for admitting you're a laughing stock.

Second time you failed to read comprehensibly. I couldn't care less about what (*)(*)(*)(*)s are in your own house. My point is the only argument you have so far in this thread is either spewing your stupid nonsense or labeling everyone goldbug propagandist.

Let me spell it out slowly this time for you....If I'm a goldbug propagandist, I would love and totally support my hero Ben Bernanke. Due to the Fed actions, my gold has gone up from $600 to $1650/oz in less than 4 yrs. For that, I thank him a million times.

Here is a simple question for you, why would I be against something is obviously benefiting me?

 

why would a private bank give all it's net-profit to the government?

who said you were a goldbug propagandist? i have no idea who or what you are

 

The price spikes isn't value gained thru demand or appreciation

So again why do you like the idea of your commodity jumping up so much

Its actually a slight of hand loss in our market system

Via the currency manipulation lowered purchasing power

Isn't a true gain/benefit too anyone other than debtors and

Central bankers an their buddies

 

Hey troll, you've been accusing everyone who against the Fed gold saleman, goldbug propagandist...etc

Why the "gold saleman" would be against the Fed's quantitative easing? You're a liar who got caught lying through your teeth. You do not own any gold or silver because if you do, like me, you would be extremely happy right now.

 

like how continued positive growth rates are exponential ?

 

I wouldn't it only shows just how pyschotic

Our nations monetary policy is...I do have a small collection

Of numismatic coins of gold an silver so its all relative

To your inclination as too what is value

 

Bingo....everything has cycles

It lives it dies

It booms it bust

It grows it contracts

Basic ideas an principles

Tho some can't get it thru their fattbrick heads

 

Meh. I don't make rule and I can't print the money like Bernanke. I'm just a normal citizen who follows the crowd and does what best to protect my wealth. I disagree that gold price spike isn't driven by demand. In fact it is opposite as more people realize the "fiat currency" is sliding down the toilet. I assume you do your own homework and it's not that hard to realize gold is the only thing steadily gaining and preserving its value in the past 100 yrs.