The GENIUS OF THE FEDERAL RESERVE!

[Neubarth]

According to Harper's Index (April 2010 print edition) the Fed reported profits of $46, 100,000,000 last year.

Any idea how much of that money was returned to Treasury and how much wound up in private accounts?

What's your take on public banks modeled on the State Bank of North Dakota?

A Democratic gubernatorial candidate in Florida, with a PhD in Economics, claims:

"State and local government budgets will balance without higher taxes when BSF (the Bank of the State of Florida) cuts interest costs. 6% BSF credit cards will save people billions per month, money that stays in Florida instead of going to the big banks--and the state will make huge profits on that too.

"Saving billions in interest costs will create millions of jobs without subsidies just by keeping those billions circulating in Florida. Eventually the state will earn enough to reduce and eliminate state and local taxes while every Floridian has economic security in a recession-proof Florida."

You keep on asking the same stupid questions. What is wrong with your brain?

Without the FED we could not have the tremendous Infrastructure that we presently have in the United States. It could not have been done on the Gold Standard. If fact, almost nothing could have been done on the Gold Standard as there simply is not enough Gold in the whole world to have financed our expansion.

If you have a problem with government spending, the the issue is the government spending. The American People voted in a whole bunch of liberal spenders who know no limit to the programs they will endorse as long as it gets them re-elected. The only thing that I would keep from the present corrupt Federal Government is the non government FED. Everybody else needs to find new jobs and we need to elect fiscal conservatives to office who will only overspend if it is necessary to build more infrastructure to keep American business running.

 

[georgephillip]

"The Federal Reserve in collaboration with the giant banks has created the greatest financial crisis the world has ever seen. The foolish notion that unlimited amounts of money and credit created out of thin air can provide sustainable economic growth has delivered this crisis to us...

"..Doubling the money supply didn't work, quadrupling it won't work either. Buying up the bad assets of privileged institutions and dumping worthless assets on the American people is morally wrong and economically futile."

Ron Paul to Ben Bernanke at a recent Congressional hearing.

 

[Oddball]

According to Harper's Index (April 2010 print edition) the Fed reported profits of $46, 100,000,000 last year.

Any idea how much of that money was returned to Treasury and how much wound up in private accounts?

What's your take on public banks modeled on the State Bank of North Dakota?

A Democratic gubernatorial candidate in Florida, with a PhD in Economics, claims:

"State and local government budgets will balance without higher taxes when BSF (the Bank of the State of Florida) cuts interest costs. 6% BSF credit cards will save people billions per month, money that stays in Florida instead of going to the big banks--and the state will make huge profits on that too.

"Saving billions in interest costs will create millions of jobs without subsidies just by keeping those billions circulating in Florida. Eventually the state will earn enough to reduce and eliminate state and local taxes while every Floridian has economic security in a recession-proof Florida."

You keep on asking the same stupid questions. What is wrong with your brain?

Without the FED we could not have the tremendous Infrastructure that we presently have in the United States. It could not have been done on the Gold Standard. If fact, almost nothing could have been done on the Gold Standard as there simply is not enough Gold in the whole world to have financed our expansion.

If you have a problem with government spending, the the issue is the government spending. The American People voted in a whole bunch of liberal spenders who know no limit to the programs they will endorse as long as it gets them re-elected. The only thing that I would keep from the present corrupt Federal Government is the non government FED. Everybody else needs to find new jobs and we need to elect fiscal conservatives to office who will only overspend if it is necessary to build more infrastructure to keep American business running.

Total nonsense.

If we were still on the gold standard, then prices would adjust downward to compete for available funds.

Also, credit would be almost the exclusive domain of private lenders, rather than the realm of federal politicians and bureaucrats.

May I suggest that you listen to the aforementioned audio presentation, buy and read the book before you comment further?

 

[georgephillip]

What part of 6% credit cards, 2% mortgages, and 6% returns on CDs do you find nonsensical?

North Dakota instituted its state bank in 1919. It's currently one of two states with a budget surplus and the only state that's gaining jobs.

 

[editec]

Because I have never studied economics, I am not compelled to support any economic school of theory, all of which seem crazy to me. They babble and quibble and banter their arguments all over the place, and one would think that supposedly genius level people would all agree on fundamentals of their science. The only problem is, it is all THEORY! There is no science to it.

Now, knowing that all of those geniuses all say the other side is crazy or worse I ask this.

Since it has been established that we can borrow from our mythical bank (The Fed) at ZERO interest and have been doing so for almost a hundred years, why in the hell are we borrowing from Japan and China. We have to pay those countries (and private investors in those countries) interest on our notes!

We go through the token gesture of paying the interest to the FED, and the FED puts the money directly in the US Treasury. (i.e. We give it to them and they give it right back.) All of our debt should be financed by the FED. Considering that it costs us absolutely nothing to borrow, our debt can be astronomical and it would not matter.

Some economist the other day was trying to say that when the FED cashed in those bonds and notes, that would put too much money into the system and the dollar would inflate. Again, he was babbling and quibbling and bantering all over the place when I stated that, "The FED does not have to cash in those bonds! They could hold them as security forever while we borrowed endlessly. That is what we have been doing with most of our FED held debt for decades now."

He went away mumbling to himself.

How come it is so easy for me to see it and all of those economic educated geniuses can not understand?

We have proven that my "theory" works for almost a century now. I suppose we should be prudent, but in reality, we have unlimited cash to spend. Right?

You're righter than you think.

We DO have unlimited CASH. Cash is, after all, an agreed upon delusion which only represents things of TRUE value.

What we do not have is unlimited RESOURCES.

 

[Neubarth]

Because I have never studied economics, I am not compelled to support any economic school of theory, all of which seem crazy to me. They babble and quibble and banter their arguments all over the place, and one would think that supposedly genius level people would all agree on fundamentals of their science. The only problem is, it is all THEORY! There is no science to it.

Now, knowing that all of those geniuses all say the other side is crazy or worse I ask this.

Since it has been established that we can borrow from our mythical bank (The Fed) at ZERO interest and have been doing so for almost a hundred years, why in the hell are we borrowing from Japan and China. We have to pay those countries (and private investors in those countries) interest on our notes!

We go through the token gesture of paying the interest to the FED, and the FED puts the money directly in the US Treasury. (i.e. We give it to them and they give it right back.) All of our debt should be financed by the FED. Considering that it costs us absolutely nothing to borrow, our debt can be astronomical and it would not matter.

Some economist the other day was trying to say that when the FED cashed in those bonds and notes, that would put too much money into the system and the dollar would inflate. Again, he was babbling and quibbling and bantering all over the place when I stated that, "The FED does not have to cash in those bonds! They could hold them as security forever while we borrowed endlessly. That is what we have been doing with most of our FED held debt for decades now."

He went away mumbling to himself.

How come it is so easy for me to see it and all of those economic educated geniuses can not understand?

We have proven that my "theory" works for almost a century now. I suppose we should be prudent, but in reality, we have unlimited cash to spend. Right?

You're righter than you think.

We DO have unlimited CASH. Cash is, after all, an agreed upon delusion which only represents things of TRUE value.

What we do not have is unlimited RESOURCES.

If we can borrow from the FED at zero interest, then we do have unlimited Resources. Again, I would caution that we be prudent, but if there is no interest, we can carry an unlimited balance and never have to pay it.

 

[Neubarth]

What part of 6% credit cards, 2% mortgages, and 6% returns on CDs do you find nonsensical?

North Dakota instituted its state bank in 1919. It's currently one of two states with a budget surplus and the only state that's gaining jobs.

Total nonsense. We have the FED and we do not need to go back to small town America banking and thinking. With the FED, Reagan was able to drive Russia to the breaking point. The FED is the greatest financial institution in world history. It took pure genius to create it. It takes total low IQ shitheads from hell to try to destroy it.

 

[Oddball]

The Fed is the oldest banking alchemy scam in history: How to turn debt into "assets".

Seriously....Listen, read and learn:

The Creature From Jekyll Island (audio overview)

Creature from Jekyll Island (softbound book)

 

[Neubarth]

According to Harper's Index (April 2010 print edition) the Fed reported profits of $46, 100,000,000 last year.

Any idea how much of that money was returned to Treasury and how much wound up in private accounts?

What's your take on public banks modeled on the State Bank of North Dakota?

A Democratic gubernatorial candidate in Florida, with a PhD in Economics, claims:

"State and local government budgets will balance without higher taxes when BSF (the Bank of the State of Florida) cuts interest costs. 6% BSF credit cards will save people billions per month, money that stays in Florida instead of going to the big banks--and the state will make huge profits on that too.

"Saving billions in interest costs will create millions of jobs without subsidies just by keeping those billions circulating in Florida. Eventually the state will earn enough to reduce and eliminate state and local taxes while every Floridian has economic security in a recession-proof Florida."

You keep on asking the same stupid questions. What is wrong with your brain?

Without the FED we could not have the tremendous Infrastructure that we presently have in the United States. It could not have been done on the Gold Standard. If fact, almost nothing could have been done on the Gold Standard as there simply is not enough Gold in the whole world to have financed our expansion.

If you have a problem with government spending, the the issue is the government spending. The American People voted in a whole bunch of liberal spenders who know no limit to the programs they will endorse as long as it gets them re-elected. The only thing that I would keep from the present corrupt Federal Government is the non government FED. Everybody else needs to find new jobs and we need to elect fiscal conservatives to office who will only overspend if it is necessary to build more infrastructure to keep American business running.

Total nonsense.

If we were still on the gold standard, then prices would adjust downward to compete for available funds.

Also, credit would be almost the exclusive domain of private lenders, rather than the realm of federal politicians and bureaucrats.

May I suggest that you listen to the aforementioned audio presentation, buy and read the book before you comment further?

Dude, nothing you say here makes any sense. Are you loaded? If we were on the gold standard the price of Gold would soar as nation after nation tried to acquire enough to fund their governments. That became a totally ludicrous proposition in 1912. It was obvious that we could not go on that way. Any attempt to do so would be insane.

Credit is still the realm of private lenders. It has never been taken away from them. The only problem right now is that they do not want to lend.

I do not need to listen to audio presentation from lunatics. That kind of asinine nonsense is so grossly stupid as to make even stoics laugh. Nothing they say is logical.

 

[Neubarth]

The Fed is the oldest banking alchemy scam in history: How to turn debt into "assets".

Seriously....Listen, read and learn:

The Creature From Jekyll Island (audio overview)

Creature from Jekyll Island (softbound book)

Total nonsense! That is really stupid shit! Remember, I am an historian and very accomplished on this period in history. Propaganda has always been propaganda. When well done, it takes truths and couches them in lies and tries to make people believe the lies.

 

[Oddball]

You oughtta know about propaganda...You've been spouting it in your every post on this topic.

You really have precious little room to bitch about the economic tinkering going on in the halls of political institutions out of one side of your mouth, while singing the praises of the biggest financial Ponzi scheme ever devised by man out of the other end.

 

[georgephillip]

The Federal Reserve System does create money to buy US Treasury debt, and Treasury pays interest to the Fed on this debt.

Additionally, the Fed is currently loaning money to big banks at 0% interest, and the banks are buying Treasuries with that money, effectively loaning the Fed's money back to the government at 4% interest.

Do you think Eliot Spitzger could get RICO convictions on this SCAM, or is Eliot just another ignorant shit head?

 

[boedicca]

The Federal Reserve System does create money to buy US Treasury debt, and Treasury pays interest to the Fed on this debt.

Additionally, the Fed is currently loaning money to big banks at 0% interest, and the banks are buying Treasuries with that money, effectively loaning the Fed's money back to the government at 4% interest.

I'm the person who pointed this scam out to you in another thread.

Our government enabled this situation - and it is legal, although disgustingly unethical. The void between ethics and legality continue to grow.

Do you think Eliot Spitzger could get RICO convictions on this SCAM, or is Eliot just another ignorant shit head?

No. DC enabled this - there is no way a court is going to overturn it.

The answer is to replace Congress with financial conservatives and to elect a fiscally conservative president in 2012.

 

[Kevin_Kennedy]

Printing money doesn't create wealth, and doing so with no end in sight would lead to hyperinflation and the destruction of the currency.

 

[Neubarth]

Printing money doesn't create wealth, and doing so with no end in sight would lead to hyperinflation and the destruction of the currency.

Who is printing all of this money that the idiotic Ron Paulites keep on talking about? I know their insane lies, and I know what their goal is.

Can I tell the state militias to take them out, too, as long as the militias want to do away with the people destroying our democracy?

Ron Paul's only goal is to destroy America.

 

[Neubarth]

You oughtta know about propaganda...You've been spouting it in your every post on this topic.

You really have precious little room to bitch about the economic tinkering going on in the halls of political institutions out of one side of your mouth, while singing the praises of the biggest financial Ponzi scheme ever devised by man out of the other end.

Dude, you are obviously really messed up on drugs. I have a lot of friends who used medicinal herb, and it usually keeps them really mellow. The only problem with being really mellow is that most of them believe the rumor of the day and can not think critically any more.

1. The FED is not a Ponzi scheme.
2. I don't deal with propaganda.
3. I just tell people the truth. I post data and show people what it really means.

Put down the pipe, sober up and then come tell me something intelligent instead of the insane tripe spouted by the Ron Paul nincompoops. If it were not for the FED the US would be a Third World country by now. If we do not stop the corruption in government, we will be a Third World country within ten years even though we do have the FED. The FED has made the United States GREAT because it allowed us to spend money on projects that we could never have financed if we were still on the gold standard. Think man, Think! There is not enough gold in the world to fund our government. That was gone over half a century ago. The FED made it possible for us to do all of the great things that we have done as a country.

But, know ye this; even the FED can not stop the ravages of the massive wave of corruption that now is ingrained in our so called democratic process. All the FED can do is set the overnight interest rate, the discount rate and loan money. It can not pass laws to regulate the spending of that money by congress or the states.

The FED was invented out of nothing so the government could borrow from an outside source at low interest rates. That is a reality. The system was set up to work as it does. Now, as I have said numerous times in the past for the low IQ crowd, if people do not like what is being done with the money that the Government is borrowing they have to get their Congressional members to effect change.

We do not have any change going on that we can believe in now. It is just massive governmental corruption as usual, both at the Federal level and the state level. I have been lecturing on this Governmental corruption for twenty years now, trying to get the numerous state militia members to stop hating the government and to start hating the corruption.

Morality and ethics have flown out the window and can not be found in government corridors in any capital in the land.

Government is totally corrupt and both parties are responsible. Both Republicans and Democrats have approved massive spending bills supporting wars that we need not have been fighting. Iraq was totally unnecessary. Afghanistan could have been "corrected" by telling two or three of the former Soviet Turkic Republics to go in there and clean the whole mess up and annex the land. Afghanistan was an artificial creation in the first place, so let the Turkic people eradicate Radical Islam in their own way. With one hundredth of the money that we have spent on the war, we could have bought their alliance in the Radical Islam eradication project. Instead we had a congress that approved of wasting trillions on war. As a former military officer I can clearly state that was the stupidest engagement of American forces in American history. And to think, so soon after the stupid engagements in Somalia and Viet Nam. Damn, have we had dumb leadership since Blowjob Bill Clinton stepped down. (He did not have sex with that woman, Ms Lewinski.) There was a MAN who knew when to use force and when to use allies. You might say Lewinski was an ally, but that is off the record.

Both political parties are doling out hundreds of billions of government money for projects that we do not need and will not need.

All of this deficit spending is forcing the government to borrow more and more money from the FED. The FED is not at fault for that and most certainly should not be shut down because government is highly irresponsible.

Congress should be totally shut down until we get some responsible people in office who can make change that we can believe in and trust in. Most of our members of congress look upon graft and fraud as normal behavior. We need to change that. The sooner we change that the better. Those people who have corrupted the Democratic process should be put on trial for Treason and if found guilty, shot by firing squad.

 

[Kevin_Kennedy]

Printing money doesn't create wealth, and doing so with no end in sight would lead to hyperinflation and the destruction of the currency.

Who is printing all of this money that the idiotic Ron Paulites keep on talking about? I know their insane lies, and I know what their goal is.

Can I tell the state militias to take them out, too, as long as the militias want to do away with the people destroying our democracy?

Ron Paul's only goal is to destroy America.

The Fed "prints" the money, though print isn't technically the correct word. But you're saying the Fed should print more money to lend to the federal government, so you obviously think there's nothing wrong with hyperinflation.

 

[georgephillip]

If every dollar created in this country comes into existence when the Fed monetizes a Treasury IOU or bond by loaning that dollar into circulation at interest, then there is always more money owed than currently exists.

The Fed's solution is continuous borrowing with eternal proliferation of money and/or debt.

The Fed's principle purpose hasn't changed since 1913..protect the biggest banks at all costs and make them even bigger.

 

[Neubarth]

If every dollar created in this country comes into existence when the Fed monetizes a Treasury IOU or bond by loaning that dollar into circulation at interest, then there is always more money owed than currently exists.

The Fed's solution is continuous borrowing with eternal proliferation of money and/or debt.

The Fed's principle purpose hasn't changed since 1913..protect the biggest banks at all costs and make them even bigger.

That is nothing but lie after lie after lie after lie. You are making a total fool of yourself. Why spout such totally insane gibberish? Now, in your case, you are not doing pot. I suspect that you are coming down from speed. You need serious psychiatric help.

 

[Neubarth]

Printing money doesn't create wealth, and doing so with no end in sight would lead to hyperinflation and the destruction of the currency.

Who is printing all of this money that the idiotic Ron Paulites keep on talking about? I know their insane lies, and I know what their goal is.

Can I tell the state militias to take them out, too, as long as the militias want to do away with the people destroying our democracy?

Ron Paul's only goal is to destroy America.

The Fed "prints" the money, though print isn't technically the correct word. But you're saying the Fed should print more money to lend to the federal government, so you obviously think there's nothing wrong with hyperinflation.

You are one totally crazy piece of shit. What a damn fucking fruitcake. I have seen crazy posts before, but yours takes the cake. Damn, that is stupid!

Fred "farted" the gas, though Fart isn't technically the correct word. But you're saying that Fred should fart some more gas to lend to the federal government, so you obvious think that there is noting wrong with too much odoriferous gas.

Fred doesn't fart and the Fed doesn't print money. The Fed will buy government notes and bonds when they are not subscribed. I know that is too hard for you to understand, but give it a try. If you want government to stop spending money and borrowing from everybody and anybody, remove your corrupt congressman. Next you are going to be saying that the Chinese are printing too many Dollars because they are loaning us a Trillion dollars for our notes. Do you have any idea how totally stupid you sound making up crazy shit like that? So how many dollars have the Chinese printed?