11 Lies About The Federal Reserve

[Kevin_Kennedy]

The Federal Reserve has a lot of haters, and those haters are spreading some rumors.

Texas Governor Rick Perry echoed many conservatives' sentiments when he said last year that another round of stimulus from Federal Reserve Chairman Ben Bernanke would be "almost treasonous." "We would treat him pretty ugly down in Texas," he added, while also claiming that the Fed has been "devaluing the dollar." Inflation is currently at historically low levels.

11 Lies About The Federal Reserve

And the response...

The other day the Huffington Post ran an article by a Bonnie Kavoussi called “11 Lies About the Federal Reserve.” And you’ll never guess: these aren’t lies or myths spread in the financial press by Fed apologists. These are “lies” being told by you and me, opponents of the Fed. Bonnie Kavoussi calls us “Fed-haters.” So she, a Fed-lover, is at pains to correct these alleged misconceptions. She must stop us stupid ingrates from poisoning our countrymen’s minds against this benevolent array of experts innocently pursuing economic stability.

Here are the 11 so-called lies (she calls them “myths” in the actual rendering), and my responses.

HuffPo's 11 Myths About the Fed, Refuted | Liberty Classroom

It seems to me that the original Huffington Post piece is merely a list of strawmen and appeals to authority.

 

[expat_panama]

...HuffPo's 11 Myths About the Fed, Refuted | Liberty Classroom...

Some of us prefer to read:

1. “The Fed actually prints money.”
2. “The Federal Reserve is spending money wastefully.”
3. “The Fed is causing hyperinflation.”
4. “The amount of cash available has grown tremendously.”
5. “The gold standard would make prices more stable.”
6. “The Fed is causing food and gas prices to rise.”
7. “Quantitative easing has not helped job growth.”
8. “Tying the U.S. dollar to commodities would solve everything.”
9. “Ending the Fed would make the financial system more stable.”
10. “The Fed can’t do anything else to help job growth.”
11. ”The Fed can’t easily unwind all of this stimulus.”

Loonies that buy that crap are beyond reason so any attempts to 'refute' are for the benefit of the refuter, not the refutee. Just the same, I'm wondering why they left out two others we hear a lot:

• The Fed is a private bank
• Nobody audits the Fed.

Crazy. Amazingly crazy.

 

[Kevin_Kennedy]

...HuffPo's 11 Myths About the Fed, Refuted | Liberty Classroom...

Some of us prefer to read:

1. “The Fed actually prints money.”
2. “The Federal Reserve is spending money wastefully.”
3. “The Fed is causing hyperinflation.”
4. “The amount of cash available has grown tremendously.”
5. “The gold standard would make prices more stable.”
6. “The Fed is causing food and gas prices to rise.”
7. “Quantitative easing has not helped job growth.”
8. “Tying the U.S. dollar to commodities would solve everything.”
9. “Ending the Fed would make the financial system more stable.”
10. “The Fed can’t do anything else to help job growth.”
11. ”The Fed can’t easily unwind all of this stimulus.”

Loonies that buy that crap are beyond reason so any attempts to 'refute' are for the benefit of the refuter, not the refutee. Just the same, I'm wondering why they left out two others we hear a lot:

• The Fed is a private bank
• Nobody audits the Fed.

Crazy. Amazingly crazy.

Why have a discussion when you can simply denigrate the intelligence of anybody who would dare disagree with you, right?

 

[CrusaderFrank]

...HuffPo's 11 Myths About the Fed, Refuted | Liberty Classroom...

Some of us prefer to read:

1. “The Fed actually prints money.”
2. “The Federal Reserve is spending money wastefully.”
3. “The Fed is causing hyperinflation.”
4. “The amount of cash available has grown tremendously.”
5. “The gold standard would make prices more stable.”
6. “The Fed is causing food and gas prices to rise.”
7. “Quantitative easing has not helped job growth.”
8. “Tying the U.S. dollar to commodities would solve everything.”
9. “Ending the Fed would make the financial system more stable.”
10. “The Fed can’t do anything else to help job growth.”
11. ”The Fed can’t easily unwind all of this stimulus.”

Loonies that buy that crap are beyond reason so any attempts to 'refute' are for the benefit of the refuter, not the refutee. Just the same, I'm wondering why they left out two others we hear a lot:

• The Fed is a private bank
• Nobody audits the Fed.

Crazy. Amazingly crazy.

There's a lot on that list that's accurate.

We never ever had a Great Depression before the creation of the Fed. Coincidence?

 

[CrusaderFrank]

The IS causing food and gas prices to skyrocket.

 

[Kevin_Kennedy]

...HuffPo's 11 Myths About the Fed, Refuted | Liberty Classroom...

Some of us prefer to read:

1. “The Fed actually prints money.”
2. “The Federal Reserve is spending money wastefully.”
3. “The Fed is causing hyperinflation.”
4. “The amount of cash available has grown tremendously.”
5. “The gold standard would make prices more stable.”
6. “The Fed is causing food and gas prices to rise.”
7. “Quantitative easing has not helped job growth.”
8. “Tying the U.S. dollar to commodities would solve everything.”
9. “Ending the Fed would make the financial system more stable.”
10. “The Fed can’t do anything else to help job growth.”
11. ”The Fed can’t easily unwind all of this stimulus.”

Loonies that buy that crap are beyond reason so any attempts to 'refute' are for the benefit of the refuter, not the refutee. Just the same, I'm wondering why they left out two others we hear a lot:

• The Fed is a private bank
• Nobody audits the Fed.

Crazy. Amazingly crazy.

There's a lot on that list that's accurate.

We never ever had a Great Depression before the creation of the Fed. Coincidence?

Nope.

 

[Paulie]

...HuffPo's 11 Myths About the Fed, Refuted | Liberty Classroom...

Some of us prefer to read:

1. “The Fed actually prints money.”
2. “The Federal Reserve is spending money wastefully.”
3. “The Fed is causing hyperinflation.”
4. “The amount of cash available has grown tremendously.”
5. “The gold standard would make prices more stable.”
6. “The Fed is causing food and gas prices to rise.”
7. “Quantitative easing has not helped job growth.”
8. “Tying the U.S. dollar to commodities would solve everything.”
9. “Ending the Fed would make the financial system more stable.”
10. “The Fed can’t do anything else to help job growth.”
11. ”The Fed can’t easily unwind all of this stimulus.”

Loonies that buy that crap are beyond reason so any attempts to 'refute' are for the benefit of the refuter, not the refutee. Just the same, I'm wondering why they left out two others we hear a lot:

• The Fed is a private bank
• Nobody audits the Fed.

Crazy. Amazingly crazy.

What good is an audit of the Fed when it doesn't include their open market operations? I mean the only thing really pertinent is what the fuck they're DOING with the money they create.

 

[Grandma]

The IS causing food and gas prices to skyrocket.

No, uncontrolled Wall Street speculation on commodities caused it. Thank your conservative politicians.

 

[Paulie]

The IS causing food and gas prices to skyrocket.

No, uncontrolled Wall Street speculation on commodities caused it. Thank your conservative politicians.

Speculation in commodities is fueled by a rapid increase in the monetary base by the Fed via several rounds of unsterilized asset purchases totaling into the TRILLIONS of dollars.

You don't just buy up corn and wheat and gold and silver for no fucking reason.

 

[Mad Scientist]

US Dollar devalued 90% since the Fed took over in 1913 but thank goodness there's no inflation!

 

[CrusaderFrank]

The IS causing food and gas prices to skyrocket.

No, uncontrolled Wall Street speculation on commodities caused it. Thank your conservative politicians.

No, the Fed printing $2 trillion new dollars is what cause gas to sky rocket and cereal boxes to shrink

Stick to stuff you know

 

[TakeAStepBack]

...HuffPo's 11 Myths About the Fed, Refuted | Liberty Classroom...

Some of us prefer to read:

1. “The Fed actually prints money.”
2. “The Federal Reserve is spending money wastefully.”
3. “The Fed is causing hyperinflation.”
4. “The amount of cash available has grown tremendously.”
5. “The gold standard would make prices more stable.”
6. “The Fed is causing food and gas prices to rise.”
7. “Quantitative easing has not helped job growth.”
8. “Tying the U.S. dollar to commodities would solve everything.”
9. “Ending the Fed would make the financial system more stable.”
10. “The Fed can’t do anything else to help job growth.”
11. ”The Fed can’t easily unwind all of this stimulus.”

Loonies that buy that crap are beyond reason so any attempts to 'refute' are for the benefit of the refuter, not the refutee. Just the same, I'm wondering why they left out two others we hear a lot:

• The Fed is a private bank
• Nobody audits the Fed.

Crazy. Amazingly crazy.

What good is an audit of the Fed when it doesn't include their open market operations? I mean the only thing really pertinent is what the fuck they're DOING with the money they create.

Too late on that audit anyway.

No, the Federal Reserve is a 12 member charter of private banks.

 

[expat_panama]

...We never ever had a Great Depression before the creation of the Fed. Coincidence?

We never ever had a World War before the creation of the Fed. Coincidence? We never ever had Communism or Fascism before the creation of the Fed. Coincidence? We never ever had ...

OK, you get the point.

 

[Mad Scientist]

• The Fed is a private bank
• Nobody audits the Fed.

Crazy. Amazingly crazy.

True, Amazingly true.

The Federal Reserve IS a privately owned bank. Alan Greenspan said so:

[ame="http://www.youtube.com/watch?v=K38khtCrN-4"]The Federal Reserve is Above the Law - YouTube[/ame]

Now some homework for you ExPat: How many times since 1913 has the Fed been audited?

ExPat, you know how to trade stocks, but that's all. You don't know d*ck about the Federal Reserve.

 

[TakeAStepBack]

...We never ever had a Great Depression before the creation of the Fed. Coincidence?

We never ever had a World War before the creation of the Fed. Coincidence? We never ever had Communism or Fascism before the creation of the Fed. Coincidence? We never ever had ...

OK, you get the point.

No, it is no coincidence that the first world war occured off the back of the age of central banking. That war was financed through debts only possible through elastic and expansive monetary base.

We didn't have communist or fascist ideas before 1913?

Someone needs a history lesson.

 

[Mad Scientist]

...We never ever had a Great Depression before the creation of the Fed. Coincidence?

We never ever had a World War before the creation of the Fed. Coincidence? We never ever had Communism or Fascism before the creation of the Fed. Coincidence? We never ever had ...

OK, you get the point.

International Bankers didn't need the US Fed to finance World Wars, they did that on their own.

 

[expat_panama]

...the Federal Reserve is a 12 member charter of private banks.

If that were true why would the Fed matter? I mean, you don't like it you can go form your own 'private charter'. Fact is that the Fed matters because it's created and funded by congress, controlled by the President, and it's how America's decided to regulate the value of its money. You got a better way let's hear it.

 

[expat_panama]

...We never ever had a Great Depression before the creation of the Fed. Coincidence?

We never ever had a World War before the creation of the Fed. Coincidence?...

International Bankers didn't need the US Fed to finance World Wars, they did that on their own.

What ever your point is, it sounds like you've given up on blaming the Depression on the Fed.




Smart move.

 

[Mad Scientist]

We never ever had a World War before the creation of the Fed. Coincidence?...

International Bankers didn't need the US Fed to finance World Wars, they did that on their own.

What ever your point is, it sounds like you've given up on blaming the Depression on the Fed. Smart move.

All the severe economic cycles that have happened in the US can be traced to Bankster (Rhymes with Gangster) criminal activity of creating then bursting economic bubbles.

Whether it's the Federal Reserve or any other Privately owned Bank doesn't matter.

Oh and ExPat I was wrong, you don't Trade Stocks. You Gamble in the Stock Market.

The only difference between you and someone in Vegas is that the average Vegas gambler knows the system is rigged.

 

[TakeAStepBack]

...the Federal Reserve is a 12 member charter of private banks.

If that were true why would the Fed matter? I mean, you don't like it you can go form your own 'private charter'. Fact is that the Fed matters because it's created and funded by congress, controlled by the President, and it's how America's decided to regulate the value of its money. You got a better way let's hear it.

It is true. The members of the federal reserve are 12 private banks. You can't go form your own private charter, as congress, in the middle of christmas holiday in 1912, roughshod passed the act. Regardless, the FRN is the only legal tender authorized in the United States. The federal reserve runs monetary policy independent of legislative or presidential oversight. The only thing the president has authority over (at least in window dressing) is the appointment of the chair of the board.

I do have a better way. It's called the free market. And following the constitution. Which prescribes only gold and silver as legal tender. Not monopoly money.