The Fed

[Lesh]

Serfs Up!

Taxing away all inheritances over $100,000 would cover both the military and the infrastructure without the 99% having to pay anything for it. This worship of richkids is totally against what America used to be all about. Being a loyal peasant groveling before an HeirHead master is not the American Way.

I agree that the inheritance threshold is way to high but $100K is way too low.

Leave a paid off house to your kids and they won’t be able to to keep it because of the tax.

Between 1 and 3 million (possibly as a couple) seems about right

 

[The Sage of Main Street]

I knew your partisanship would reveal itself. Duopoly dupes are the dumbest people, except for warmongers.

Kennedys = Bushes

Both the oligarchy's Parties think inheritance is sacred and untouchable, because that's what funded their fake success, including the rise of the class-climbing bootlickers.

 

[LeroyDumonde]

Before the Fed, we had recessions every two years. Sometimes less than two years.

And they were deeper and longer lasting.

No we didn't.

 

[gipper]

No we didn't.

He’s been informed of this, but he’s a hard case.

 

[g5000]

No we didn't.

And the tard says, "Nuh-uh!"

Evidence has already been provided, fool.

 

[Nobody911]

Just to give an example of how deeply corrupted our system of government is, here's a question about the fed that opened my eye's several years ago.

The US constitution grants the congress the authority to create money without interest. So why does it borrow from the Federal Reserve, with interest. This was a question a 12yr old asked a politician several years ago. It's on Youtube. I've spent over and hour trying to find it. But it's either buried or they've removed it.
Update: I think this is the girl. (She's Canadian. But their system is about like ours)

The authority granted to Congress in the U.S. Constitution to create money is outlined in Article I, Section 8. However, the way the U.S. monetary system operates today is slightly different from the constitutional provision.

The U.S. Congress delegates its power to create money to the Federal Reserve, which is the central banking system in the country. The Federal Reserve has the authority to issue currency, regulate the money supply, and set interest rates. While Congress technically has the power to create money, it typically does not directly engage in the process.

So, why does the U.S. government borrow from the Federal Reserve and pay interest instead of directly financing its expenses through money creation? The decision to borrow money rather than solely relying on money creation is influenced by various factors, including economic considerations and financial stability.

Here are a few key reasons behind the U.S. government's borrowing practices:

1. Monetary Policy Control: By borrowing from the Federal Reserve, the government allows the central bank to have greater control over monetary policy. This helps ensure stability and independence in the management of the money supply and interest rates.

2. Inflation Control: Directly creating large amounts of money can potentially lead to inflation. Borrowing, on the other hand, allows the government to manage inflationary pressures by controlling the amount of money in circulation.

3. Market Access: Borrowing provides the U.S. government with access to additional funds beyond what money creation offers. It enables the government to obtain capital from domestic and international markets, which can expand its spending capacity.

4. Investor Confidence: Government borrowing often attracts investors who are looking for safe investments, such as Treasury securities. These investments are considered low risk and help to fund government operations. The interest paid by the U.S. government on borrowed funds is not profit for the Federal Reserve. The Federal Reserve returns the interest it earns to the Treasury, so the interest paid essentially goes back to the government.

While instances of corruption in financial systems can occur, the decision to borrow from the Federal Reserve is primarily driven by economic and monetary policy considerations rather than inherent corruption.

However, discussions and debates exist around the nature of the monetary and financial systems and how they can be improved to better serve public interests.

 

[g5000]

You can see that before we went off the gold standard, recessions and Depressions were more frequent, longer lasting, and deeper.

 

[g5000]

Continuing the gold standard recessions and depressions:

 

[g5000]

During the Great Depression, FDR took us off the gold standard and the depression ended. The UK went off the gold standard before the US and recovered sooner. Those countries which were never on the gold standard did not suffer as much during the depression.

Here are the recessions since we went off the gold standard. As you can plainly see, they are farther apart, shorter, and not as deep.

 

[LeroyDumonde]

And the tard says, "Nuh-uh!"

Evidence has already been provided, fool.

Don't play dumb we me. We both know that a recession is defined as two or more consecutive quarters of negative GDP growth. We also both know that the data needed to measure GDP didn't exist in the 18th and 19th centuries. And we also both know that the official inflation number is massaged to minimize inflation and therefore maximize GDP growth. Your Wikipedia proof is just silly.

 

[g5000]

Don't play dumb we me. We both know that a recession is defined as two or more consecutive quarters of negative GDP growth.

Well, maybe YOU think that's the definition of a recession, but that is not the FULL definition of a recession.

Recession | U.S. Bureau of Economic Analysis (BEA)​

In general usage, the word recession connotes a marked slippage in economic activity. While gross domestic product (GDP) is the broadest measure of economic activity, the often-cited identification of a recession with two consecutive quarters of negative GDP growth is not an official designation.
www.bea.gov

In general usage, the word recession connotes a marked slippage in economic activity. While gross domestic product (GDP) is the broadest measure of economic activity, the often-cited identification of a recession with two consecutive quarters of negative GDP growth is not an official designation. The designation of a recession is the province of a committee of experts at the National Bureau of Economic Research (NBER), a private non-profit research organization that focuses on understanding the U.S. economy. The NBER recession is a monthly concept that takes account of a number of monthly indicators—such as employment, personal income, and industrial production—as well as quarterly GDP growth. Therefore, while negative GDP growth and recessions closely track each other, the consideration by the NBER of the monthly indicators, especially employment, means that the identification of a recession with two consecutive quarters of negative GDP growth does not always hold.

We also both know that the data needed to measure GDP didn't exist in the 18th and 19th centuries. And we also both know that the official inflation number is massaged to minimize inflation and therefore maximize GDP growth. Your Wikipedia proof is just silly.

While GDP or GNP measurements did not exist prior to the Great Depression, that does not mean indicators of economic health were unavailable prior to then:

Economists and policymakers relied on industrial production data, stock numbers, and even freight hauling data to give them a picture of the nation’s economic health.[2] The earliest 19th century statistics publications, such as the Department of Commerce’s Statistical Abstract of the United States, focused primarily on money and commodities, which were easily measured.

Dismal Facts: Measuring the Economy Before GDP​

​

 

[gipper]

During the Great Depression, FDR took us off the gold standard and the depression ended. The UK went off the gold standard before the US and recovered sooner. Those countries which were never on the gold standard did not suffer as much during the depression.

Here are the recessions since we went off the gold standard. As you can plainly see, they are farther apart, shorter, and not as deep.

No the GD did not end when FDR suspended the gold standard in fucking 1933 dummy. The GD didn’t end under until 1942.

 

[gipper]

No the GD did not end when FDR suspended the gold standard in fucking 1933 dummy. The GD didn’t end under until 1942.

And it ended because of WWII. Nothing the Fed did. Dummy.

 

[LeroyDumonde]

Well, maybe YOU think that's the definition of a recession, but that is not the FULL definition of a recession.

Recession | U.S. Bureau of Economic Analysis (BEA)​

In general usage, the word recession connotes a marked slippage in economic activity. While gross domestic product (GDP) is the broadest measure of economic activity, the often-cited identification of a recession with two consecutive quarters of negative GDP growth is not an official designation.
www.bea.gov

In general usage, the word recession connotes a marked slippage in economic activity. While gross domestic product (GDP) is the broadest measure of economic activity, the often-cited identification of a recession with two consecutive quarters of negative GDP growth is not an official designation. The designation of a recession is the province of a committee of experts at the National Bureau of Economic Research (NBER), a private non-profit research organization that focuses on understanding the U.S. economy. The NBER recession is a monthly concept that takes account of a number of monthly indicators—such as employment, personal income, and industrial production—as well as quarterly GDP growth. Therefore, while negative GDP growth and recessions closely track each other, the consideration by the NBER of the monthly indicators, especially employment, means that the identification of a recession with two consecutive quarters of negative GDP growth does not always hold.




While GDP or GNP measurements did not exist prior to the Great Depression, that does not mean indicators of economic health were unavailable prior to then:

Economists and policymakers relied on industrial production data, stock numbers, and even freight hauling data to give them a picture of the nation’s economic health.[2] The earliest 19th century statistics publications, such as the Department of Commerce’s Statistical Abstract of the United States, focused primarily on money and commodities, which were easily measured.

Dismal Facts: Measuring the Economy Before GDP​

​

And those other statistics used by the NBER didn't exist either.

 

[g5000]

No the GD did not end when FDR suspended the gold standard in fucking 1933 dummy. The GD didn’t end under until 1942.

The gold standard ended in the US in 1933. It ended in the UK in 1931.

 

[gipper]

The gold standard ended in the US in 1933. It ended in the UK in 1931.

Lol. WTF!

 

[g5000]

And those other statistics used by the NBER didn't exist either.

I'm sorry, but your ignorance doesn't count as an authoritative opinion.

Why don't you try reading the Characteristics column of the table I posted, and then try to convince yourself those weren't economic crashes.

 

[g5000]

Lol. WTF!

FDR Takes The US Off The Gold Standard

On June 5, 1933, the United States went off the gold standard, a monetary system in which currency is backed by gold, when Congress enacted a joint resolution nullifying the right of creditors to demand payment in gold. The United States had been on a gold standard since 1879, except for an embargo on gold exports during World War I, but bank failures during the Great Depression of the 1930s frightened the public into hoarding gold, making the policy untenable.

 

[gipper]

FDR Takes The US Off The Gold Standard

On June 5, 1933, the United States went off the gold standard, a monetary system in which currency is backed by gold, when Congress enacted a joint resolution nullifying the right of creditors to demand payment in gold. The United States had been on a gold standard since 1879, except for an embargo on gold exports during World War I, but bank failures during the Great Depression of the 1930s frightened the public into hoarding gold, making the policy untenable.

You stated FDR ended the GD by suspending the gold standard. That is not true. It took 10 more years and than it was the war that ended it.

The Fed had nothing to do with ending the greatest economic downturn the nation has ever endured.

Silly boy.

 

[gipper]

You stated FDR ended the GD by suspending the gold standard. That is not true. It took 10 more years and than it was the war that ended it.

The Fed had nothing to do with ending the greatest economic downturn the nation has ever endured.

Silly boy.

In fact, many believe the Fed’s actions prolonged the GD.