Federal Reserve

[TigerGrowls]

Thomas Massie introduced a bill to abolish the Fed. I am onboard with it.



Now That Thomas Massie Introduced ‘End The Fed’, Federal Reserve Board Abolition Act, HR 8421, You Should Know The History Of The Federal Reserve

Glenn Beck “The Federal Reserve Act wasn't drafted in Congress. It was drafted on a private island off the coast of Georgia in 1910. Here is the island, Jekyll Island. And it was drafted under great secrecy. Jekyll Island was the retreat for billionaires like William Rockefeller and JPMorgan”

“And in 1910, senator Nelson Aldrich, the Republican whip in the senate and the chair of the National Monetary Commission, sent his private railroad car to the New Jersey Railroad Station where he and 5 other men were instructed to come 1 at a time and everybody pretend they just didn't know each other. Aldrich, who is the guy remember, he wrote the original bill? He was, uh, a business associate of JPMorgan. Oh, and the father-in-law to John d Rockefeller junior. So there's no special interest happening there.

There was also Abram Piat Andrew, assistant secretary of the Treasury, and Frank Vanderlip, representing William Rockefeller, Henry Davidson and Benjamin Strong with JPMorgan, and Paul Warburg. Um, he is a partner. He was a partner at, um, at Kuhn Loeb and Company. He was representing the Rothschild banking family. Oh, he's going to talk about the Rothschilds now.

He actually is an interesting character. Um, if you ever saw Little Orphan Annie, Daddy Warbucks was named after Warburg. These are the men that represented 1 fourth of the entire wealth of the world. You think we got a problem with, uh, wealth now? Those guys, one quarter of all of the money in the world.

The Morgans, the Rockefellers, the Warburgs, and Rothschilds, all in one room. Yeah. But when do they start sacrificing chickens? Well, it doesn't happen. That, I'll tell you.

These guys were all competitors according to, G Edward Griffin who we'll talk to in a minute. They all had come together to form a banking cartel, so they didn't have to compete against each other. He says it was like an oil cartel or a sugar cartel, but this cartel actually went into partnership with the government. I mean, how great is that, It's kinda like the drug cartels in Mexico. Wait, I didn't say that out loud, did I?

So for more than a week, these men sat around there. And they sat around this big table, and they hammered out all the details of what became the Federal Reserve System with 5 objectives. How many of these do you agree with?

- 1, to stop the, uh, growing competition from the nation's newer banks. That doesn't sound good.

- 2, to obtain a franchise to create money out of nothing for the purpose of lending. That one really doesn't sound good either.

- 3, to get control of the reserves of all of the banks so the reckless ones wouldn't be exposed to currency drains or bank runs. Oh, that's the charity part. Golly, cheap beef. Thank you so much.

4, Then, to shift the losses from the bank owners to the taxpayers. It just gets better and better for you and me. That means no. Again, the answer is no.

5, And then, finally, to convince Congress that the purpose was to protect the public.

 

[TigerGrowls]

 

[DW4_2016]

Giving the power to the already elected bought and paid for politicians can’t go wrong.

Let’s do education next! Who needs that malarkey? Clearly not the state of South Carolina.

 

[Beachkitty]

So interest rates should be determined by popular opinion? I cannot think of a more destructive idea than this one. Lets say this were the case. Who, in the name of God, would vote to raise interest rates when required for cooling down inflation? And you cite Glenn Beck for support of this idea? Jesus ****ing Christ. How dumb is this? The Federal Reserve has guided the country through economic calamities since the Great Depression up through the crash of 2008 enabling the US to become the world's greatest economic powerhouse and you want to change the policy? This is patently absurd and thankfully not under consideration by any thoughtful member of the economic community. You must have gone to the Rand Paul school of economics (crackpot U). The whole idea of the Federal Reserve is the be able to make interest rate decisions which might be unpopular in the short term which, in the long term, are in the best interest of the long term economic health of the country. It works like a charm over time. The proof of the pudding is in the eating.

 

[TigerGrowls]

So interest rates should be determined by popular opinion? I cannot think of a more destructive idea than this one. Lets say this were the case. Who, in the name of God, would vote to raise interest rates when required for cooling down inflation? And you cite Glenn Beck for support of this idea? Jesus ****ing Christ. How dumb is this? The Federal Reserve has guided the country through economic calamities since the Great Depression up through the crash of 2008 enabling the US to become the world's greatest economic powerhouse and you want to change the policy? This is patently absurd and thankfully not under consideration by any thoughtful member of the economic community. You must have gone to the Rand Paul school of economics (crackpot U). The whole idea of the Federal Reserve is the be able to make interest rate decisions which might be unpopular in the short term which, in the long term, are in the best interest of the long term economic health of the country. It works like a charm over time. The proof of the pudding is in the eating.

Thanks for your feedback. I have no problem with disagreement. No easy answers here but change is required as we are collectively headed off a financial cliff.

 

[scotchtiger]

Thanks for your feedback. I have no problem with disagreement. No easy answers here but change is required as we are collectively headed off a financial cliff.

Perhaps, but I don’t think it’s the feds fault. It’s the federal government’s fault for reckless spending.

 

[fatpiggy]

So interest rates should be determined by popular opinion? I cannot think of a more destructive idea than this one. Lets say this were the case. Who, in the name of God, would vote to raise interest rates when required for cooling down inflation? And you cite Glenn Beck for support of this idea? Jesus ****ing Christ. How dumb is this? The Federal Reserve has guided the country through economic calamities since the Great Depression up through the crash of 2008 enabling the US to become the world's greatest economic powerhouse and you want to change the policy? This is patently absurd and thankfully not under consideration by any thoughtful member of the economic community. You must have gone to the Rand Paul school of economics (crackpot U). The whole idea of the Federal Reserve is the be able to make interest rate decisions which might be unpopular in the short term which, in the long term, are in the best interest of the long term economic health of the country. It works like a charm over time. The proof of the pudding is in the eating.

The pudding is $32Trillion in debt. Tastes like shit.