What is a dollar?

[Willy702]

Originally Posted by gwynedd1

Be wary of the problem with the Fed system. The interest collected by the Fed is returned to the treasury with probably some skimming in "expenses" which probably is no worse than any other inefficient government agency. The real problem is when the commercial banks multiply the currency at interest. You can have some outrage at the inflation tax, but its a small one compared to the banks.

Not only do banks collect the inflation tax, but it also creates instability which makes a financial cottage industry for "experts". If maritimer interests can get a premium for safe passage, they will roil the waters.
Who looks at the weather when its predictable? Who spends resources on it? It is an inherently volatile system which also make fools ripe for further exploitation.

So we are getting scammed losing most of the interest tax to banks, and having a lousy store of wealth which causes more people to shop for "financial products".


Lets not even talk about government loan guarantees which allow interest profit to banks with losses passed on to tax payers ...and on it goes.


Its not the FED itself; its the system.

Could you translate this into English. Thanks.

[user_id]

Originally Posted by Willy702

Could you translate this into English. Thanks.

Yes, "Blah blah blah blah blah government blah blah bank blah blah fed blah blah".

[gwynedd1]

Originally Posted by user_id

Yes, "Blah blah blah blah blah government blah blah bank blah blah fed blah blah".

Witty...
A slice of wonder you are. Yeast is yeast, and for you, it rises just the same in a cheap hotel in Tijuana.

[gwynedd1]

Originally Posted by Willy702

Could you translate this into English. Thanks.

Try to take it as a second language; that is if you can try and sell your curious noises as you native bowel.