The Creation of the Federal Reserve System

None. I'm not even aware if any of the 196 countries ever had a true gold standard in the first place.

Of course. America will fail too, because its money is going bad, because all fiat currencies fail.

The gold standard never failed, the state just intervened in the free market and outlawed it.

Why not?

That's what hapens when you use gold as money.

Of course its superior. There is zero evidence of any non-negligible economic downturns in societies that have ever used a true gold standard. In contrast, every society that has used fiat currency has failed, because all fiat currencies have failed throughout history. Especially considering the state of the world economy right now, and knowing this information: to conclude that fiat currency is superior to a gold standard is borderline psychotic.

Intelligent people say a lot of things. Intelligent people don't say alot of things. Perhaps you should not focus on something as subjective as one's apparent "intelligence" and focus on the facts that are being presented to you by individuals on the internet.

 

Just to be clear, societies don't fail... governments fail.

Government needs society to exist, society doesn't need government.

 

These are statements that you make that are backed by zero facts.

Does it exist today? So yes, it did fail.

Same when you use fiat as money

Yet there isn't a single country that uses it. Hmmmm... lol.

You don't actually say anything that makes sense. Your fascination with gold is beyond stupid. You obviously do not believe in education.

 

Governments are created by society... so yes societies do fail.

 

I disagree. Congress cares very much about inflation. They tend to lose their jobs if it's too high.

Please show me where I claimed gold is "Magical". Post number and link please.

There is no data which disproves my position. You have failed to present it. There is zero evidence that gold standards cause any non-negligible economic downturn.

Wow, yeah, hmmm, dumb....I guess that's why the world economy is in such great shape right now. LMAO!

Sure they did. That's why the money trust (smart people) wrote a cartel agreement and passed it into law so that they could control the money supply as a means to transfer purchasing power from the working poor and middle class to the state and the banking system. They were smart enough to deceive most people that the cartel agreement was intended to break the grip of the money trust.

I agree. That's why the income tax should be abolished immediately. But that doesn't mean that Congress doesn't depend on the Fed. The treasury cannot create money out of thin air. It can only create money when the Fed tells it to.

I'm not the one who gets owned by everyone on this thread. Even Iriemon schools you and you two are on the same side of the Fed argument...because you have no understanding of how any of this works.

So that means that the Fed technically does not make profit, because it is forbidden by law to distribute its profit to its member banks.

 

I agree that it's a fabrication. Neither Griffin, nor Ron Paul, nor I ever said that Woodrow Wilson "lamented" the day that he signed the Federal Reserve Act. It's well documented that Wilson was behind the propaganda machine that gathered public support for it, and he was absolutely thrilled to sign the ink on the bill. Wilson had wet dreams about world government, and he knew that the Fed was one of the tools that would allow us to get there.

 

griffin and paul are in the film 'freedom to fascism'

it illustrates their support of false propaganda

 

You take things so out of context it's ridiculous. I'm saying Congress does not care about how much money the Fed makes in order to spend. As in they don't write a budget based on how much money the Fed says they have.

Your entire theory is based on gold being magical

Hmmm... are you sure about that? Have you ever heard of the Great Depression?

We live in a pampered world driven by so much success that failure is laughable compared to 50 years ago.

More nonsense and conspiracies.

Congress does not depend on the Fed. And no, the Fed never tells Congress to make money either. Both these statements are complete lies. I'm beginning to believe that you don't have the intelligence to comprehend basic information. This is getting redundant. And I'm sitting here arguing with someone who still talks about the gold standard. Maybe I need to get my head checked.

Those are just words. I just explain how things work mathematically. No one owns me because I don't say anything that can not be explained by math. Iriemon agreed with 95% of what I'm saying but copped out when he realize that he was wrong.

No it means the Fed does make a profit but they send their profit back to the Treasury.

 

They cannot lend reserves? The reserve requirement is 10% currently. They must only hold onto 10% of the amount being loaned, and the rest is considered "excess reserves" and free to be loaned out. If you wish to be educated on banking please let ME know!

Rofl, but I thought The Fed did not make any money?

Either way, if you take away Congresses credit card (The Fed) and force them to live off of just what they make (taxes), spending would certainly be under control.

 

This thread is now well over 50 pages/500 posts, and has therefore been closed.

If you want to continue the discussion, please start a new thread.

Cenydd
Site Moderator

 

A new thread has been started to continue the discussion here:

http://www.politicalforum.com/political-opinions-beliefs/223999-creation-federal-reserve-system-part-2-a.html