Ron Paulites - please explain - how do we end the fed?

Discussion in 'Politics' started by OohPooPahDoo, Jan 19, 2012.

  1. OohPooPahDoo
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    OohPooPahDoo Gold Member

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    Ron Paulites - please explain - how do we end the fed?

    In particular, what happens to the Fed's assets and liabilities?
     
  2. eots
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    eots no fly list

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    [ame=http://www.youtube.com/watch?v=dxSzPjqPz_M]Ron Paul: How To END THE FED 1/2 FED Crimes / Solutions - YouTube[/ame]

    [ame=http://www.youtube.com/watch?v=dxSzPjqPz_M]Ron Paul: How To END THE FED 1/2 FED Crimes / Solutions - YouTube[/ame]
     
  3. OohPooPahDoo
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    OohPooPahDoo Gold Member

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  4. Lakhota
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    Lakhota Diamond Member

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  5. The Rabbi
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    I would assume they get subsumed to Treasury.
    The bigger question is who takes over the functions of the Fed? In a Ron Paul world we go back to the 18th century when everyone issued bank notes and figuring out which were sound and which were bogus was an industry. While the Fed has been far from perfect, it is better than the system it replaced. And those opposed to it eventually reveal themselves as cranks and anti-semites.
     
  6. OohPooPahDoo
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    OohPooPahDoo Gold Member

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    Yes, I suppose my real question is - once the fed's assets and liabilities have been dispensed with, to what system of banking do we change to?


    Some sort of retarded system where banks can't even make loans because then there would be more money in circulation than gold backing,
    and/or
    one where a bank failure means the depositors lose all of their money.
    I'm sure.
     
  7. OohPooPahDoo
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    OohPooPahDoo Gold Member

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    LOL!



    So I'm right - Paul wants to end fractional reserve banking - meaning checking and savings account deposits couldn't even be loaned out. That's fucking briliant man!
     
  8. editec
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    editec Mr. Forgot-it-All

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    That is a damned good question.

    The question REALLY is asking us:

    How to we maintain a money supply that tracks and compliments the nation's ACTUAL productivity?

    In theory that is what the FED is supposed to be doing for us (in theory).

    I submit that that task DOES need to be done therefore something FED-LIKE is necessary for a moden capitalistic society to function.

    I do not think a GOLD SPECIE STANDARD works to answer that question.

    Now we could have a gold standard system, but that is just adding one more complication to the managment of money supply.

    Basically that Gold Standard would just make the money supply balance against the gold supply based on some FIAT rate of conversion (again, another FED -LIKE task)

    If you've read this far and understand the point I am making above, can I get a shout out? I ask for this because there are times, here, when I think not single person here truly understands what I am saying.

    Incidently, I have no alternative solution to the FED except some more honest (and less classist) system.

    I do think the money supply needs to be monitored and adjusted.

    I guess my point it is it needs to be done honestly and for the benefit of the economy, and not just the BANSTERS, which is how it's being managed right now.

    My proposal for a FED-LIKE system is to break the monopoly that BANKS have for access to NEW capital creation.

    My proposal is that every citizen ought to be able to borrow money (which is really creating new money) by going to the FED window.

    I see however, the complications and shortcomings of such a system, too.

    For example...clearly every borrower's plan for that money does not come with the same risk.

    So then the FED-LIKE organization would have to be in the business of accessing the risk-worthiness of the borrower and his plan for that new money he is creating by borrowing.

    Yeah, I see how unweildy that system is, I definitely do.

    I ALSO see how if that system becomes corrupted (as all system inevitably do) that would be essantially the same problem we have now.

    But does anybody see where I'm headed with this idea?

    Or am I a lone voice shouting in the wilderness?

    I am asking you guys and gals to THINK about what money really is, and how money manamgement is an inevitable form of social engineering.

    I am pointing out that no matter what we do with money, no matter how we design a system to deal with the money supply every design is a form of social engineering.

    There is no NATURAL system (like I think some of you gold bugs image there is) that determines the right money supply. (economics does NOT reflect some deeper truth found in nature, folks. That is a delusion that many of you seem to have. Economics is entirely a manmade system that we get to (read must) invent to reflect the state of our society and how it works.

    So regardless of what we do, our design choices will reflect our concept of how SOCIETY ought to work.

    Okay, I hope I have not completely wasted my time or yours.

    But the question of eliminating or redesigning the FED demands that we start asking ourselves the fundamental questions about how we want our society to work.

    I hope some of you get that.

    I think some of you do.
     
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    Last edited: Jan 19, 2012
  9. FA_Q2
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    FA_Q2 Gold Member

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    I like Paul and agree with much that he stands for but I am not on the 'end the fed' bandwagon with him because I am not sure how a gold backed system would be a good thing in society today. As I understand it, that would lead to a GRATER flow of assets to the rich and a decreased incentive for investment. Not a good thing in my opinion.

    To editic, I understand what you are getting at and like the idea that the average citizen should get the same deal as the banks though it is a difficult system to work. I, for one, would have no problem with the government offering that to the average Joe that could pass an extremely strict process to eliminate the risk associated. That would effectively end the banking system that we know today but that is just a bonus. The loans that banks would make then would only go to those that simply did not have the ability to borrow from the government directly.
     
  10. uscitizen
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    uscitizen Senior Member

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    In particular, what happens to the Fed's assets and liabilities?


    Easy one there, private individuals and corporations get those assets and the govt (aka taxpayers) eats the liabilities.
     

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