The Federal Reserve is not our friend

[sparky]

We used to be the world's bank. Now we are a debtor nation. Trillions just rolls off the tongue of our government now.

sadly , and more likely the swap to digital currency will be their shell game attempt at dealing with it

enter the gold bugs, notice how it's 5th page news when some foreign country hoards it?

Global central banks are hoarding gold like never before as they seek to reduce 'overconcentration' of dollar reserves

Global central banks have been buying record amounts of gold as they seek to diversify their reserves away from the dollar. The trend will likely continue, according to State Street.

markets.businessinsider.com

~S~

 

[The Irish Ram]

and FDR outlawed owning it

the fed reserve rising gold from $25 to $35 a oz shortly afterwards (guess who's back pocket that went to!)

enter the Hunt bro's in the 80's who's billions in silver assumed significant valuation to the point the fed suspended trade with it

they really don't care for competition.....

~S~

My Dad remembers when his mother had to turn hers in.

Executive Order 6102 required all persons to deliver on or before May 1, 1933, all but a small amount of gold coin, gold bullion, and gold certificates owned by them to the Federal Reserve in exchange for $20.67 per troy ounce.

 

[The Irish Ram]

sadly , and more likely the swap to digital currency will be their shell game attempt at dealing with it

You are so right. Central Bank Digital Currency is our future and the demise of our Constitution.

 

[KissMy]

Trump Printed $14.3 Trillion in 1 year to fund bank liquidity, purchase bank loans & assets, causing Inflation of Stocks & Assets of the Rich.

.

 

[Toddsterpatriot]

Trump Printed $14.3 Trillion in 1 year to fund bank liquidity, purchase bank loans & assets, causing Inflation of Stocks & Assets of the Rich.

.

 

[The Duke]

Who owns it? How do you know?

History and knowing things. I believe there was a chart posted earlier in this thread as to who owns the Federal Reserve Bank, but you didn't read that, huh?

 

[struth]

The Federal Reserve Corporation determines the printing of the dollar. Which is why:
“In the last 10 years, the dollar has lost 49% of its purchasing power, as measured in gold."

The federal reserve doesn’t print money, that’s another govt agency

 

[The Irish Ram]

The federal reserve doesn’t print money, that’s another govt agency

The Federal Reserve determines when and if to print money. It is not a government agency, it is a corporation of elite bankers.

 

[struth]

The Federal Reserve determines when and if to print money. It is not a government agency, it is a corporation of elite bankers.

The federal reserve is a govt agency, created by congress.

Only the govt can print money

 

[The Irish Ram]

The federal reserve is a govt agency, created by congress.

Only the govt can print money

Wrong on every count.

 

[struth]

Wrong on every count.

Maybe you are talking abo Jr a different federal reserve. I’m talking about the one congress created back on the early 1900s

It’s the United States central banking system

 

[Mac1958]

While I know how pretty much everything has to be Friend or Foe for many nowadays, the fact is the Fed is neither. Like most everything else, it's a mixed bag.

One thing is has to (try to) deal with is a government that is clearly incapable of long term fiscal responsibility a government that insists on treating taxing and spending as two different and separate things.

They have to deal with the effects of that. They don't CAUSE the effects.

 

[DudleySmith]

The Federal Reserve is neither federal or a reserve. They are a Corporation of wealthy bankers and stakeholders that have control of our Treasury. The Rothschild's determine our financial health.

True, but it was The Morgans and Andrew Mellon who corrupted it for their own benefit almost immediately.

The Rise and Fall of Andrew Mellon

He was America’s most powerful businessman and the Treasury secretary throughout the 1920s. His corruption would lead to an impeachment inquiry.

prospect.org

President Warren G. Harding formally appointed Mellon under the pretense that a plutocrat like Mellon was so rich he couldn’t be bought. The real reason was that a Mellon Bank had lent $1.5 million to Harding’s campaign in 1920. Mellon had become bored with being a mere tycoon. As one of his enemies put it, “Mellon needed a change, and the Grand Old Party needed the cash.”


Mellon’s appointment was probably illegal. A statute from 1789 prohibits the treasury secretary from engaging in commerce or trade, an absurd expectation for a man with such industrial power. The founders had also written a law blocking the treasury secretary from holding bank stocks, another absurdity. Mellon overcame these legal restrictions by pretending to sell his assets to his brother. The rules existed for good reason: a man clothed in public power should not use that power for private ends, though Mellon did exactly that throughout the 1920s. Mellon explained the need to raise tariffs to protect domestic industrial monopolies to Harding even before the election. Harding dutifully mentioned tariffs in his inaugural address.
...
An insidious form of corporatism was gaining power over not only America’s industrial sinews but the heart of the people. Many leaders attacked the corruption, the machine guns in the mines, the poverty in the South, the links to fascism both implicit and overt, Prohibition, deals with fascists, and the monopolization of essential goods and industries. But many other Americans, intellectuals weaned on the centralization of the war and its aftermath, were losing faith in traditional democratic balances. Nearly a generation had passed since the heyday of populism, and millions of Americans had known only centralized control, by the state during the world war, and by the monopolists since. After decades of antimonopoly crusading by aggressive politicians, pledging to stand up to big money, and failing spectacularly, this was the aftermath. The monopolists were in control.


The last presidential election of the decade was similar to the first one, ending with a smashing Republican victory. Republican nominee Herbert Hoover took forty states, in a third straight GOP landslide. Two days after the election, a reporter asked Mellon if prosperity would continue. “There is no reason why,” he said, “a steady improvement in our standard of living … should not continue indefinitely,” if, he continued, “conservative and well-tried economic principles continue to be followed.”

rotflmao

He was also the first to use the IRS to harass business and political enemies. The technocrats began returning the U.S. to rule by technocrats and corporatists in the 1960's, with the election of JFK. The Democratic Party's Watergate Babies completed the reversion and joined hands with their GOP partners, and the rest of the country came to be considered 'consumers', and not citizens in a democracy, and needed to be shut out of the political process. A few years later came the 'super delegate rule'.

 

[sparky]

The federal reserve doesn’t print money, that’s another govt agency

well whoever they are, it would seem they never run outta paper.....~S~

 

[struth]

well whoever they are, it would seem they never run outta paper.....~S~

They dont print money.

 

[sparky]

They dont print money.

Perhaps the Treasury Department's Bureau of Engraving and Printing engraves it then struth?

~S~

 

[struth]

Perhaps the Treasury Department's Bureau of Engraving and Printing engraves it then struth?

~S~

Yes the Tresuary prints money, not the federal reserve

 

[DudleySmith]

Right to Use Cash and Cash Substitutes

www.txce.org

SJR 67 has probably died forever.

https://capitol.texas.gov/BillLookup/BillStages.aspx?LegSess=88R&Bill=SJR67

Update: Payment Choice Act Reintroduced in 2023 to Protect Cash as a Payment Option

Based in Houston, Texas, we provide secure armored transport, ATM services, and cash-management services through our service network of nearly 200 operating locations in the US and Puerto Rico.

www.loomis.us

The Fed one appears dead, too.

Support these laws where ever you can and keep them in the news. I don't recall seeing any threads here on the issues by either Party's shills.

 

[dudmuck]

The Federal Reserve determines when and if to print money. It is not a government agency, it is a corporation of elite bankers.

one of its functions is to decide how much currency to print. That is part of its function of monetary policy.
So, i wouldnt consider it a corporation. I would say wallstreet has too much control over it, and that likely contributes to increasing inequality.
The measure of gold is not important, its the value of the dollar to other major currencies around the world.

the other most important function is to prevent banking panics. We've had bank failures in the past year, and we've come out unscathed.

 

[Toddsterpatriot]

History and knowing things. I believe there was a chart posted earlier in this thread as to who owns the Federal Reserve Bank, but you didn't read that, huh?

I read that silly bit of fiction.
I laugh every time a moron posts it.