Why do conspiracy theorists and libertarians hate the Federal Reserve so much? (bankruptcy, taxes)
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I've heard about the conspiracies and its not so much that their evil but more of a good ol boy revolving door network. Ben Bernake was chair for I think 6 years and only after he left and wrote his recent memoir talked about prosecuting individuals on wall street vs fines to banks. He never thought to mention that when he was in charge? How about the whistleblower at the NY Fed who broke the news of the Fed being way too comfortable with I believe Goldman Sachs. Getting back to the good old boy network, here's some good evidence and for the conspiracy theorist, your holy grail...
+1 That's pretty much it. Just a handful of Bankers getting together to make more money for themselves and being extraordinarily successful at it. Classic crooks at their best. Of course, pretty much everyone knows what they are doing but it is easy to buy silence or corporation. The game may change but human nature doesn't. Purchasing traitors has always been relatively easy and cheap. In this environment it is a couple of hundred points on the Dow and everyone falls into place.
It's easy to dislike what's hard to understand. The Fed of course is relatively easy to understand, but people still don't like it. Lots of GIGO going on out there.
It's easy to dislike what's hard to understand. The Fed of course is relatively easy to understand, but people still don't like it. Lots of GIGO going on out there.
Agreed. Tough to understand. I'm going to try to simplify it.
The Fed prints money for its cronies and when they quit their printing job they get gobs of money as a thank you
That was tough to explain but hopefully I captured the essence of this very complicated con game.
The Fed prints money for its cronies and when they quit their printing job they get gobs of money as a thank you. That was tough to explain but hopefully I captured the essence of this very complicated con game.
No, the Marvel Comics version of the financial universe is highly fictionalized. In the real world, the Fed sets monetary policy. That's all it does. Its missions and intentions are to influence monetary and credit conditions in pursuit of maximum employment, stable prices, and moderate long-term interest rates. End of story.
No, the Marvel Comics version of the financial universe is highly fictionalized. In the real world, the Fed sets monetary policy. That's all it does. Its missions and intentions are to influence monetary and credit conditions in pursuit of maximum employment, stable prices, and moderate long-term interest rates. End of story.
It was a hilarious story. Thank you. You obviously have lots of first hand experience dealing with these crooks. Remember all of those people who use to make money through organized crime. Well they decided it was more lucrative and far safer to just own the Bank. I doubt they even know what you're talking about and they couldn't care less.
The ratio of blah-blah-blah to anything actually intelligible is going off the charts. And yes. I do have quite a bit of first hand experience in this area. So mind your step. Ever had lunch in the Chairman's Dining Room? I'm guessing no.
Agreed. Tough to understand. I'm going to try to simplify it.
No you aren't.
You're going to (again) babble about your unfounded conspiracy theories, and if we're lucky we'll also get treated to hilarious claims of how you were a cog in the system before you saw the light and became some white knight message board warrior.
You're going to (again) babble about your unfounded conspiracy theories, and if we're lucky we'll also get treated to hilarious claims of how you were a cog in the system before you saw the light and became some white knight message board warrior.
That isn't the same as simplifying.
I don't get the conspiracy thing. Just a bunch of good ole boys taking care of each other. A conspiracy connotates something complicated, sinister, and clandestine. This is rather simple and quite open. As I said, a couple of hundred Dow points brings out the Quislings by the tens of thousands. It sort of takes the place of the coins that the Kings use to toss out to the rabble.
I don't get the conspiracy thing. Just a bunch of good ole boys taking care of each other. A conspiracy connotates something complicated, sinister, and clandestine.
Complicated has nothing to do with conspiracy, and what you imply certain fits sinister and clandestine.
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.
Good question.
The Fed was conceived as a lender of last resort to replace the existing facility which was inadequate to deal with the 1907 crisis. By then the US financial economy had grown too big. And the meltdown of Wall Street was narrowly avoided.
It is only since 1977 that the Fed was given its dual mandate of maximum employment and price stability. These are added to its other role of banking supervision.
A false assumption that is the system was somehow more equitable and stable beforehand (it was not). Another is that under gold, the economy was more sound and more moral (again, not even close).
S.
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