South Carolina Lawmaker Seeks to Ban Federal Currency

[Mr.Fitnah]

let them do it. just tie to a stable source instead the whims of the federal reserve.

So the whims of the politicians is what you'd prefer?

If we had better representatives.Not the kind of toadies that we have had for the last 100 years.

 

[SpidermanTuba]

The Mint is down the street the Fed sets the value at its owe whim , and does not answer to congress nor does it open its books

A) The value of one dollar is exactly equal to one dollar, there's nothing the Fed can change about that.

B) The Federal Reserve System was created by and operates under the authority of Congresss and is reviewed by Congress regularly.

C) The GAO makes regular audits of the fed.

"While the Fed’s Washington-based Board of Governors is a federal agency subject to the Freedom of Information Act and other government rules, the New York Fed and other regional banks maintain they are separate institutions, owned by their member banks, and not subject to federal restrictions."
Fed Refuses to Disclose Recipients of $2 Trillion (Correct) - Bloomberg.com
Fed Records Subpoenaed - WSJ.com

I had no idea my bank was supposed to publish how much money it loaned me and make that information public to everyone.

 

[SpidermanTuba]

let them do it. just tie to a stable source instead the whims of the federal reserve.

So the whims of the politicians is what you'd prefer?

If we had better representatives.Not the kind of toadies that we have had for the last 100 years.

So then who do you think should create the money?

 

[Douger]

In the case of SC there is plenty of gold and silver in circulation. In the form of chainz and teef. Werd up ?

 

[SpidermanTuba]

In the case of SC there is plenty of gold and silver in circulation. In the form of chainz and teef. Werd up ?

word


Its definitely a good way to make your state poor - ban money!

 

[blu]

Yeah, it can. Happens every time someone takes out a loan from a bank.

nice selective quote. what you said wouldn't happen if you didn't have the fed reserve.

Yes it would still happen just not as much.
We had banks before we had the Federal Reserve.

you don't know what you are talking about. without the fractional reserve system it won't happen

 

[blu]

In all, the whole fuss seems to be moot

Who cares what coins and currency is made out of?

The majority of transactions are being handled electronically. It won't be long before you have no currency at all

Yep don't be a dolt and break the rythm at the checkout line by not paying with plastic.
Be a slave to the industry. Programming works.

And for heavens sake do not pull out a checkbook or the entire store stops and stares at you!

yea people paying with checks should be forced in their own line. everyoen needs to learn to use a debit or credit card

 

[blu]

Yeah, it can. Happens every time someone takes out a loan from a bank.

nice selective quote. what you said wouldn't happen if you didn't have the fed reserve.

Uhhh, no. Banks have made loans almost since their inception, thus creating money "out of thin air". The Federal Reserve didn't invent the loan.

the bank couldn't use the money from the loan that wasn't paid yet without the fraction reserve system

 

[blu]

let them do it. just tie to a stable source instead the whims of the federal reserve.

So the whims of the politicians is what you'd prefer?

I am now convinced you understand nothing of economics

 

[blu]

The Mint is down the street the Fed sets the value at its owe whim , and does not answer to congress nor does it open its books

A) The value of one dollar is exactly equal to one dollar, there's nothing the Fed can change about that.

B) The Federal Reserve System was created by and operates under the authority of Congresss and is reviewed by Congress regularly.

C) The GAO makes regular audits of the fed.

wow you are a tool. are you really this stupid? the dollar has relative buying power which has been severely hurt due to all the money printing by the fed. the gao does a half ass audit, ron paul's billl would give a full audit and truly expose those scum

 

[Mr.Fitnah]

So the whims of the politicians is what you'd prefer?

If we had better representatives.Not the kind of toadies that we have had for the last 100 years.

So then who do you think should create the money?

I already showed you what the constitution stated That congress choose under the guidance of Woodrow Wilson to abrogate its responsibly is a matter of record.
I have concluded you are to simpleminded and ignorant to to converse with, Sorry.This is my floor

 

[SpidermanTuba]

the bank couldn't use the money from the loan that wasn't paid yet without the fraction reserve system

What the **** are you even talking about? The bank doesn't need to use the money from the loan, the person the bank is loaning it to needs the money from the loan.

 

[SpidermanTuba]

The Mint is down the street the Fed sets the value at its owe whim , and does not answer to congress nor does it open its books

A) The value of one dollar is exactly equal to one dollar, there's nothing the Fed can change about that.

B) The Federal Reserve System was created by and operates under the authority of Congresss and is reviewed by Congress regularly.

C) The GAO makes regular audits of the fed.

wow you are a tool. are you really this stupid? the dollar has relative buying power which has been severely hurt due to all the money printing by the fed. the gao does a half ass audit, ron paul's billl would give a full audit and truly expose those scum

Inflation was only 2.7% in 2009. Historically that's not at all bad. In fact its healthy.

 

[rightwinger]

If South Carolina does not want to accept my US Currency, I guess I can spend it elsewhere

 

[SpidermanTuba]

I already showed you what the constitution stated

Good for you. That's where the Congress gets its authority to set up the Federal Reserve System.

 

[MaggieMae]

I think something like this aught to alert DC that the people are tired of the DC monkey business

I'm sure retailers, etc., would love to take gold in place of cash. This could even spark the makers of briefcases, handbags and backpacks to make them more sturdy in order to carry all those heavy gold bars and chains. It would also be a great boon to orthopedists and chiropractors who would be treating folks lugging around all that extra weight.

Of course the South might go the way of the Civil War and start issuing its own CSA notes. That worked out well.

 

[MaggieMae]

end the fed and the spiral effect will be amazing. no more entitlement programs, no more military industrial complex, no more "big government" as money can't just be created out of thin air.

Correct. History tells the story.

Depression and World War II[edit]
Prolongation of the depression

Some[who?] critics blame the gold-exchange standard (different from a true gold standard) of the 1920s for prolonging the depression. The gold standard limited the Federal Reserve's control over monetary policy. As a result, the Fed could not lower interest rates as an expansionary policy to stimulate the Great Depression to an end. Rather, the Fed defended the fixed price of dollars in respect to the gold standard by raising interest rates, trying to increase the demand for dollars. Higher interest rates intensified the deflationary pressure on the dollar and reduced investment in the US. Central banks. The banks converted dollar assets to gold in 1931, reducing the Federal Reserve's gold reserves. This speculative attack on the dollar created a panic in the U.S. banking system. Fearing imminent devaluation of the dollar, many foreign and domestic depositors withdrew funds from U.S. banks to convert them into gold or other assets.[13] Since the gold standard depressed demand for dollars, interest rates rose. Due to the Federal Reserve's reluctance to abandon the gold standard and float the U.S. currency as Britain had done, recovery in the United States was slower than in Britain. It wasn't until 1933 when the United States finally decided to abandon the gold standard that things began to improve.[14]

Gold standard - Wikipedia, the free encyclopedia

 

[MaggieMae]

end the fed and the spiral effect will be amazing. no more entitlement programs, no more military industrial complex, no more "big government" as money can't just be created out of thin air.

Ya cause Anarchy is SO MUCH BETTER.

do you seriously equate ending the fed with anarchy? sound money == anarchy now??

That was an odd statement, since anarchy seems to be what a lot of the new cons want.

 

[MaggieMae]

That is a smart move, let’s convert to gold and silver when they are at all time highs. The same way W. kept on buying oil for SPR while it was going through the roof. Then when it prices hit rock bottom when the bankers, hedge funds, and speculators take their profit instead of homeowners who cannot pay their mortgage we will have a bankrupt federal government.
You know on second thought, he could be on to something.

And then anarchy would follow.

 

[MaggieMae]

Yeah, it can. Happens every time someone takes out a loan from a bank.

nice selective quote. what you said wouldn't happen if you didn't have the fed reserve.

Yes it would still happen just not as much.
We had banks before we had the Federal Reserve.

We had robber barons before the Federal Reserve. Some believe they still exist and run the fed today.