The Case Against The Fed

[onefour1]

An excellent audio series on why we need no Federal Reserve: "The Case Against The Fed" by Murray N. Rothbard has 41 videos in the series. Here are the first 3. The rest can be found on youtube or the Mise Institute's site.

 

[EdwardBaiamonte]

An excellent audio series on why we need no Federal Reserve: "The Case Against The Fed" by Murray N. Rothbard has 41 videos in the series. Here are the first 3. The rest can be found on youtube or the Mise Institute's site.

too stupid we can all post millions of links here. Why not admit you lack the IQ to give us a reason for ending the Fed so you post link instead.

 

[onefour1]

Reason #1. We can create our own money. There is no need to pay interest to a quasi private institution to create our money for us and start right out of the gate in debt.

I admit that you lack the IQ or you are a pawn of the organization that has raped the Amercan public of its wealth. Your ploy to make me feel inadequate for posting links has failed. I will continue to post them. They are more efficient than writing thousands of pages of indictments against the fed and much more easily digested by the viewer.

 

[onefour1]

A good video on the history of the fed:

 

[EdwardBaiamonte]

A good video on the history of the fed:

a video because the fool lacks the IQ to defend himself?

 

[Jomama]

I want the ability to deal with massive financial crisis' monetarily. I have no doubt that financing (and therefore the economy) was frozen in 2008 and a gold standard economy could not have recovered. I am willing to pay a few bps for that insurance.

 

[EdwardBaiamonte]

I want the ability to deal with massive financial crisis' monetarily. I have no doubt that financing (and therefore the economy) was frozen in 2008 and a gold standard economy could not have recovered. I am willing to pay a few bps for that insurance.

1) with a gold standard there is no crisis since it is self-correcting

 

[Jomama]

1929???

 

[EdwardBaiamonte]

1929???

dear, what about 1929??? You clean forgot to say? Slow???

 

[ralfy]

A gold standard does not allow for increasing economic growth, as there is not enough gold to cover increasing credit. Even today, total gold and silver supplies worldwide will only allow for a few ounces per capita.

If any, the Fed is a good example of free market capitalism in action, as it is a private consortium of commercial banks that works independently of government.

Money is not created arbitrarily but brought to existence through commercial borrowing. Beyond that is a credit system that has a large nominal value:

Top Derivatives Expert Estimates Size of the Global Derivatives Market at 1 200 Trillion Dollars ... 20 Times Larger than the Global Economy Washington s Blog

Finally, in order to deal with these issues, regulation will have to take place. But that will involve governments that rely on the same financial industry for credit.

 

[EdwardBaiamonte]

A gold standard does not allow for increasing economic growth,.

of course thats 100% stupid. Do you think there was no economic growth in the 19th century???

 

[EdwardBaiamonte]

Top Derivatives Expert Estimates Size of the Global Derivatives Market at 1 200 Trillion Dollars ... 20 Times Larger than the Global Economy Washington s Blog
.

so??? It does not matter what the size of the derivative market is. isn't learning fun??

 

[onefour1]

If the money supply were required to be backed by something of intrinsic worth, governments would have to come up with more of the backed commodity before they could place money into circulation. This would eliminate the inflationary effect of fiat currency.

The Byzantine empire had a gold and silver currency with strict laws against coin clipping (a means of devaluing the currency by clipping off part of a coin). This economy lasted 800 years and they never once devalued their currency. A statistic the Federal Reserve is far from claiming.

 

[EdwardBaiamonte]

This would eliminate the inflationary effect of fiat currency.

of course thats 100% stupid since we have eliminated inflation by making it illegal or by making inflation opposed to the Fed's mandate. Switching to anti inflationary gold or to a anti inflationary Fed policy accomplishes the exact same thing. The Fed is better as it makes it easier to fine tune an economy.

making sense now?

 

[Toddsterpatriot]

Reason #1. We can create our own money. There is no need to pay interest to a quasi private institution to create our money for us and start right out of the gate in debt.

I admit that you lack the IQ or you are a pawn of the organization that has raped the Amercan public of its wealth. Your ploy to make me feel inadequate for posting links has failed. I will continue to post them. They are more efficient than writing thousands of pages of indictments against the fed and much more easily digested by the viewer.

There is no need to pay interest to a quasi private institution to create our money for us

Do you pay the Fed for your FRNs? Does the government?

 

[EdwardBaiamonte]

strict laws against coin clipping (a means of devaluing the currency by clipping off part of a coin).

as long as you have laws against inflating and deflating the currency it does not matter if you have gold backed money or govt backed money.

 

[EdwardBaiamonte]

1929???

that's an interesting case since we were on a gold standard then but the fed did not follow the rules of the gold standard. Therefore we can be on a gold standard or not but it makes no difference unless the govt follows the rules.

Imagine if we wee on a gold standard now and all of our gold was being shipped to China. The public would panic and not allow the shipments!!

 

[Toddsterpatriot]

1929???

that's an interesting case since we were on a gold standard then but the fed did not follow the rules of the gold standard. Therefore we can be on a gold standard or not but it makes no difference unless the govt follows the rules.

Imagine if we wee on a gold standard now and all of our gold was being shipped to China. The public would panic and not allow the shipments!!

we were on a gold standard then but the fed did not follow the rules of the gold standard.

Interesting claim!
What are the rules of the gold standard?
Which of those rules did they fail to follow?

 

[Dad2three]

Reason #1. We can create our own money. There is no need to pay interest to a quasi private institution to create our money for us and start right out of the gate in debt.

I admit that you lack the IQ or you are a pawn of the organization that has raped the Amercan public of its wealth. Your ploy to make me feel inadequate for posting links has failed. I will continue to post them. They are more efficient than writing thousands of pages of indictments against the fed and much more easily digested by the viewer.

Facts: Yes, the Federal Reserve banks are privately owned, but they are controlled by the publically-appointed Board of Governors. The Federal Reserve banks merely execute the monetary policy choices made by the Board. In addition, nearly all the interest the Federal Reserve collects on government bonds is rebated to the Treasury each year, so the government does not pay any net interest to the Fed.

PublicEye.org - The Website of Political Research Associates

 

[Dad2three]

I want the ability to deal with massive financial crisis' monetarily. I have no doubt that financing (and therefore the economy) was frozen in 2008 and a gold standard economy could not have recovered. I am willing to pay a few bps for that insurance.

1) with a gold standard there is no crisis since it is self-correcting

Good ol Special Ed was the guy blaming the fed for Dubya's regulator failure during the subprime ponzi scheme? lol

PERHAPS READ ABOUT THE RECESSIONS/DEPRESSIONS UNDER THE GOLD STANDARDS DUMMY?

List of recessions in the United States - Wikipedia, the free encyclopedia