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PhxPride1 (August 28, 2008 at 5:05 am)
The Central Bank served its function initially. The coinage of money and economic stability created by the Fed was good in the 1920s. After being hi-jacked by easily pliable boards which were so esily swayed by complaints from the media and continued runaway from the U.S. Constitution has destroyed the dollar's value by releasing huge amounts of money to temporarily curtail recessions.
LakaGivafuck420 (August 23, 2008 at 11:25 pm)
jimjim: I always assume that :) That is why they are calling US they elitists just like they turn around everything else on the ones who have the right intentions.
jimjim28 (August 23, 2008 at 6:13 pm)
Monetary policy is about growth, but manipulating the system causes instabilities. They weren't lying when they said Capitalism is awesome, but unsustainable.
jimjim28 (August 23, 2008 at 6:11 pm)
Ghaws, would we elect officials that would abuse the right to print money? NO. If it so happens they are/would abuse this right, would they still be in office? NO.
Its called Direct Democracy, you give the people the right to vote, on EVERYTHING. Eliminate the cheating, menacing cowards in Washington. EDUCATE your people in these matters so they may decide, for themselves, if the nation goes to war, who should print money, how much money is in circulation, and so on. Hmm, seems easy enough!
Yourdeadmeat69 (August 23, 2008 at 10:50 am)
Paper is poverty,... it is only the ghost of money, and not money itself." --Thomas Jefferson to Edward Carrington, 1788. ME 7:36
"It is a [disputed] question, whether the circulation of paper, rather than of specie, is a good or an evil... I believe it to be one of those cases where mercantile clamor will bear down reason, until it is corrected by ruin." --Thomas Jefferson to John W. Eppes, 1813. ME 13:409
stephentsang2000 (August 22, 2008 at 11:40 pm)
Both Obama and Mcain are funded by the fucking Jews, same as all previous presidents in USA. The Jewish Federal Reserve bank prints cash out of no reserves, and made all Americans heavily indebted to them by constant wars. The US dollar and Euro don't collapse simply because there is an abundant and constant supply of goods from the diligent populations in Asia. If Asian countries suddenly dump their massive foreign reserves out, the US and Euro currencies would worth nothing but toilet papers.
stephentsang2000 (August 22, 2008 at 11:39 pm)
Both Obama and Mcain are funded by the fucking Jews, same as all previous presidents in USA. The Jewish Federal Reserve bank prints cash out of reserves, and made all Americans heavily indebted to them by constant wars. The US dollar and Euro don't collapse simply because there is an abundant and constant supply of goods from the diligent populations in Asia. If Asian countries suddenly dump their massive foreign reserves out, the US and Euro currencies would worth nothing but toilet papers.
senileguitar (August 21, 2008 at 5:13 pm)
So, ghaws, explain this contradiction to me. You're saying that The Federal Reserve, which does in fact create and lend money with interest, puts all the money they've earned on interest back into the treasury? What would be the point of having an interest rate that you don't actually charge?
ghaws (August 21, 2008 at 3:00 am)
So, since we have firmly established that the Fed "was actually created", would you please be so kind as to explain the mechanism by which we "pay interest on the new money that gets put into circulation" in light of the fact that the Fed returns its net earnings to the Treasury?
If you have a problem with moderate, predictable inflation, I suggest not saving your money by stuffing it into your mattress. If everyone saved that way, we would all be forced to get student loans from Tony Soprano.
ghaws (August 21, 2008 at 2:37 am)
You know, as far as a gold standard goes, I'll give you some credit; adequate maintenance of forex/hard asset reserves increase confidence in the sovereign credit rating and increase macroeconomic stability. A pure gold system is excessively restrictive, in my view, but that is, at least, debatable.
But, with all due respect, you (and Dr. Paul) have absolutely no idea what you're talking about. You have all these strongly held opinions on monetary policy, but you don't comprehend it one iota! |
