Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Conspiracy theorists: The fed isn't some magical organization made to strictly help the rich. Their purpose is to keep inflation in check (we NEED SOME inflation, deflation is toxic for the economy because it destroys new capital spending and hurts standard of living) and protect the US economy from economic downturns. So remember: it's not some hair-brained conspiracy to make the rich richer, that's just a side effect of big business.
Libertarians: Capitalism is not perfect on its own. Business is like a mischievous child, if not supervised it can get into a lot of trouble (and Uncle Sam is like a caring uncle who baby sits his nephew and punishes him if he misbehaves). If it were not for the Federal Reserve the 1929 stock market crash and 2008 crash would have been much worse. There is no way Wall Street would have stopped panic selling and we would have been much deeper in the pile. We needed a strong government agency to defend us and help make it easier to borrow to stimulate out economy. The damage was great so it took until now to truly see results.
There are several issues here. One huge issue for people is the "behind closed doors" meetings that go on in the FED. Congress holds meetings all the time and you can watch it on C-SPAN whenever you please. However youll never hear the goings on of the FEDs meetings unless youre one of them. Another is the Founding fathers were VEHEMENTLY opposed to a central banking system. However a very small and powerful group of bankers met in Sea Island and essentially imposed this system upon us. Another is the way that currency is introduced into our economy, via debt with the FEDs fractional reserve system. Theres plenty of reading material out there on the subject.
Also we have long bought into the idea that "deflation bad, inflation good." What most dont consider is the heavy toll this inflation takes on savings and the retired. In order to grow ones money they must incur risk at various levels, whether it be stocks, bonds, or banks' tools. Therefore every year your wealth shrinks little by little via inflation UNLESS you put your savings at risk. There are some seriously flawed issues with the desire for constant inflation. But inflation is a perfect spur in our capitalistic system as it is. It keeps us working harder and harder chasing that golden egg....
There are several issues here. One huge issue for people is the "behind closed doors" meetings that go on in the FED. Congress holds meetings all the time and you can watch it on C-SPAN whenever you please. However youll never hear the goings on of the FEDs meetings unless youre one of them. Another is the Founding fathers were VEHEMENTLY opposed to a central banking system. However a very small and powerful group of bankers met in Sea Island and essentially imposed this system upon us. Another is the way that currency is introduced into our economy, via debt with the FEDs fractional reserve system. Theres plenty of reading material out there on the subject.
Also we have long bought into the idea that "deflation bad, inflation good." What most dont consider is the heavy toll this inflation takes on savings and the retired. In order to grow ones money they must incur risk at various levels, whether it be stocks, bonds, or banks' tools. Therefore every year your wealth shrinks little by little via inflation UNLESS you put your savings at risk. There are some seriously flawed issues with the desire for constant inflation. But inflation is a perfect spur in our capitalistic system as it is. It keeps us working harder and harder chasing that golden egg....
Oooooh closed doors! They must be reptilians!
Deflation is cancer. You realize that if people stop spending nothing gets made, businesses go bankrupt, and people lose their jobs. This means they have less money to spend and go into poverty. It's a self perpetuating downward spiral. Does this sound like a healthy economy to you?
Deflation is cancer. You realize that if people stop spending nothing gets made, businesses go bankrupt, and people lose their jobs. This means they have less money to spend and go into poverty. It's a self perpetuating downward spiral. Does this sound like a healthy economy to you?
Maybe because the same institutions that met in 1910 and implemented the Federal Reserve system in 1913 are the ones today our Government bends over backwards for and bails out their ineptitude and corruption with Trillions-Goldman Sachs, JP Morgan, Citi, Chase, Wells Fargo, Bank of America, etc.
Read "The Creature from Jekyll Island" about how the Fed started. It is an old corrupt system that should probably die.
Quote:
Originally Posted by thatguydownsouth
There are several issues here. One huge issue for people is the "behind closed doors" meetings that go on in the FED. Congress holds meetings all the time and you can watch it on C-SPAN whenever you please. However youll never hear the goings on of the FEDs meetings unless youre one of them. Another is the Founding fathers were VEHEMENTLY opposed to a central banking system. However a very small and powerful group of bankers met in Sea Island and essentially imposed this system upon us. Another is the way that currency is introduced into our economy, via debt with the FEDs fractional reserve system. Theres plenty of reading material out there on the subject.
Also we have long bought into the idea that "deflation bad, inflation good." What most dont consider is the heavy toll this inflation takes on savings and the retired. In order to grow ones money they must incur risk at various levels, whether it be stocks, bonds, or banks' tools. Therefore every year your wealth shrinks little by little via inflation UNLESS you put your savings at risk. There are some seriously flawed issues with the desire for constant inflation. But inflation is a perfect spur in our capitalistic system as it is. It keeps us working harder and harder chasing that golden egg....
Exactly. Also corporate bailouts and quantitative easing has created a whole new host of issues.
Conspiracy theorists: The fed isn't some magical organization made to strictly help the rich. Their purpose is to keep inflation in check (we NEED SOME inflation, deflation is toxic for the economy because it destroys new capital spending and hurts standard of living) and protect the US economy from economic downturns. So remember: it's not some hair-brained conspiracy to make the rich richer, that's just a side effect of big business.
Libertarians: Capitalism is not perfect on its own. Business is like a mischievous child, if not supervised it can get into a lot of trouble (and Uncle Sam is like a caring uncle who baby sits his nephew and punishes him if he misbehaves). If it were not for the Federal Reserve the 1929 stock market crash and 2008 crash would have been much worse. There is no way Wall Street would have stopped panic selling and we would have been much deeper in the pile. We needed a strong government agency to defend us and help make it easier to borrow to stimulate out economy. The damage was great so it took until now to truly see results.
You sound like one of the far left college professors I used to have to sit and listen to when they'd try to explain things to people of lesser intelligence. I can tell you that "Uncle Sam" is not always wise or correct
Maybe because the same institutions that met in secrecy in 1910 and implemented the Federal Reserve system in 1913 are the ones our Government bends over backwards for and bails out their ineptitude and corruption with Trillions-Goldman Sachs, JP Morgan, Citi, Chase, Wells Fargo, Bank of America, etc.
Read "The Creature from Jekyll Island" about how the Fed started. It is an old corrupt system that should probably die.
Out of those only JP Morgan was a large bank back then. The others were small or regional at that time. Hard to blame small banks for some secret conspiracy.
You sound like one of the far left college professors I used to have to sit and listen to when they'd try to explain things to people of lesser intelligence. I can tell you that "Uncle Sam" is not always wise or correct
Try some things that were considered "medication" pre-FDA and tell me if government intervention still isn't needed.
While capitalism is good it needs to be regulated. Like I said. Business is like a child. It has a lot of good potential but it can also run into a lot of trouble.
However a very small and powerful group of bankers met in Sea Island and essentially imposed this system upon us.
Quote:
Originally Posted by 2e1m5a
"The Creature from Jekyll Island" about how the Fed started. It is an old corrupt system that should probably die.
And there you go, the conspiracy loonies coming out.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
