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.
cant get rid of the federal reserve, its a private bank, there no government in it at all.
Of course there is. Private banks are open to regular audits and rules. The Fed is not because the government never holds itself to the same standards it holds others.
The Fed had nothing to do with it, blame Congress who actually makes the decisions.
The Fed just tugs on strings (fed funds rate, reserve ratio, etc..).
I have to do this all the time. I will not continue discussing things with someone that refuses to discuss it honestly. The Fed made the decision. Yes the government fully backed that decision but the Fed did it.
I didn't tie the supply to gold. We had people get loans before the Fed. You continue to ignore this.
Whatever physical object you want to tie "money" to. I don't care, the point is, the fed is the one who influences/creates the money supply by setting regulations and doing open market operations on top of actually creating the currency.
Sure, but we didn't have such investment at the same time no? You can't build high rises, or huge neighborhoods without a huge loan. So your economic growth is slowed and can't expand quickly.
Whatever physical object you want to tie "money" to. I don't care, the point is, the fed is the one who influences/creates the money supply by setting regulations and doing open market operations.
You just said they did not, that the government did it. Damn, be honest already.
Eh, you should know me. I'm just going to say it like it is.
I hate the Federal Reserve. And honestly, I hate all government. But what good does it do to try to burn it down? Even if you could somehow reset society, you would always, eventually, end up right back where we are now.
Even if you were able to abolish the Federal Reserve, do you honestly believe nothing would take its place? And not only here, but elsewhere in the world?
As I said, the Federal Reserve exists because it works. And as it relates to the real world, the only metric by which to gauge what works, vs what doesn't work, is whatever produces the most money/power.
Thus the only question that actually matters is, "Does the Federal Reserve, and the fiat currency system, make America richer and/or more-powerful?"
And I don't mean individual people, I mean the corporation called America.
And conversely, "Would abolishing the Federal Reserve make American poorer and/or more-powerful?"
Nothing else matters. So why pretend that it does?
"How we live is so different from how we ought to live that he who studies what ought to be done rather than what is done will learn the way to his downfall rather than to his preservation." - Niccolo Machiavelli
I have to do this all the time. I will not continue discussing things with someone that refuses to discuss it honestly. The Fed made the decision. Yes the government fully backed that decision but the Fed did it.
Where in Econ 101 do we find this?
The Fed does not make decisions. They do not vote. Congress makes the decision, they vote.
The Fed can provide suggestions, of which it did. The Fed itself has no power over that decision. Did they work their magic like a lobbyist sure, but so does everyone else in the country. The power lies in Congress, they make the decision. If they cannot find the will to do what's right instead of what the lobbyist says, then that's not the Fed's issue, that's your issue for voting them into Congress.
You just said they did not, that the government did it. Damn, be honest already.
Stop putting words into my mouth.
Quote:
Originally Posted by man4857
No, our USD (our current iteration at least) is created by the Fed. They are the ones who created it. The government just prints it and sets laws to justify it's use in economic decisions, we provide the value. So without the fed, the money is worthless since the paper doesn't exist anymore, unless you have a new organization that prints money (which is essentially the same thing as the current fed, so what's the point?)
Eh, you should know me. I'm just going to say it like it is.
I hate the Federal Reserve. And honestly, I hate all government. But what good does it do to try to burn it down? Even if you could somehow reset society, you would always, eventually, end up right back where we are now.
Even if you were able to abolish the Federal Reserve, do you honestly believe nothing would take its place? And not only here, but elsewhere in the world?
As I said, the Federal Reserve exists because it works. And as it relates to the real world, the only metric by which to gauge what works, vs what doesn't work, is whatever produces the most money/power.
Thus the only question that actually matters is, "Does the Federal Reserve, and the fiat currency system, make America richer and/or more-powerful?"
And I don't mean individual people, I mean the corporation called America.
And conversely, "Would abolishing the Federal Reserve make American poorer and/or more-powerful?"
Nothing else matters. So why pretend that it does?
"How we live is so different from how we ought to live that he who studies what ought to be done rather than what is done will learn the way to his downfall rather than to his preservation." - Niccolo Machiavelli
If we do not burn it down, other countries are going to do it for us. They are not going to allow the one way street forever. There are far more of them than there are of us and they have far less to lose.
Where in Econ 101 did we find the part where failed enterprises are bailed out to the tune of billions and billions of dollars at the added costs of putting others further behind?
The Fed does NOT make this decision. This is what we are talking about.
Your article is monetary policy of which the Fed can do. Why don't you try separating out WHAT decision instead of just lumping all "decisions" into a box.
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.
