Was the Fed created by democrats or Republicans?

[CrusaderFrank]

Was the Fed created by democrats or Republicans?

Why was it created?

 

[OhPleaseJustQuit]

Woodrow Wilson (D) was president.

 

[Moonglow]

More broadly, the Federal Reserve System was established to improve the flow of money and credit throughout the United States in an effort to ensure that banks had the resources to meet the needs of their customers in all parts of the country.

Overview: The History of the Federal Reserve​

 

[Toddsterpatriot]

Was the Fed created by democrats or Republicans?

Why was it created?

Was the Fed created by democrats or Republicans?

Mostly by Dems.

Why was it created?

During a bust, a lender of last resort is useful.

 

[Oddball]

Was the Fed created by democrats or Republicans?

Mostly globalist demoncrats.

Why was it created?

To consolidate and centralize absolute power over the money supply.


The thumbnail presentation....




The full audio book..

 

[Toddsterpatriot]

Mostly globalist demoncrats.

To consolidate and centralize absolute power over the money supply.


The thumbnail presentation....




The full audio book..

That book is an error filled waste of time.

 

[Oddball]

That book is an error filled waste of time.

It's very accurate and is a near exact mirror of the mainstream "Secrets of the Temple".

 

[Toddsterpatriot]

It's very accurate and is a near exact mirror of the mainstream "Secrets of the Temple".

It's laughably wrong. But the conspiracy stuff is funny.

 

[Oddball]

It's laughably wrong. But the conspiracy stuff is funny.

I've already heard your comically wrong monatarist opinions on the Fed....No need to rehash them.

 

[Natural Citizen]

1913 was a bad year.

We got the Fed, its collection wing in the form iof the IRS and the 16th amendment.

 

[Toddsterpatriot]

I've already heard your comically wrong monatarist opinions on the Fed....No need to rehash them.

When the author claims that a loan default doesn't cost the bank anything except bookkeeping overhead, because the money was created out of nothing, you know he's clueless.

 

[Toddsterpatriot]

1913 was a bad year.

We got the Fed, its collection wing in the form iof the IRS and the 16th amendment.

The IRS collects money for the Fed? LOL!

 

[Natural Citizen]

The IRS collects money for the Fed? LOL!

The IRS collects income tax and proceeds to turn it over to the Treasury so that the Treasury can pay the principal plus interest on that bond that the Federal Reserve bought with a check which is drawn on an account that has nothing in it.

Duh.

What do you think your tax dollars go toward? Muh roads? lolol. Pft. Get real, Toddster.

You know this stuff, don't play dumb.

 

[Toddsterpatriot]

The IRS collects income tax and proceed to turn it over to the Treasury so that the Treasury can pay the principal plus interest on that bond that the Federal Reserve bought with a check which is drawn on an account that has nothing in it.

Duh.

And after the Federal Reserve gets paid, what does the Fed do with the money?

 

[Natural Citizen]

And after the Federal Reserve gets paid, what does the Fed do with the money?

Firstly, it's not money.

It's currency in the form of a Federal Reserve Note. Which is just a claim check on an IOU. Now these IOUs are just a bunch of numbers keyed into a computer, but it's the same thing. Glorified IOUs.

The Treasury and the Fed are just swapping IOUs, using the banks as middle men (open market operations) and creating (and devaluing) ''currency'' out of thin air the wole time.

Money has to be a store of value. Your Federal Reserve Note has no defined unit of account. There is no store of value. Therefore it is not money. Again, it's currency.

That's your number one shortcoming in debating this stuff. It always has been.

Your question is redundant because all they do is keep repeating the same process of trading IOUs back and forth over and over and over and over again through that shell game called open market operations. There's never enough ''currency'' to pay off the debt because there is more debt in the system than there is ''currency.'' It's a revolving door. While paying the principal does extinguish some of the debt, debt also extinguishes ''currency.'' When ''currency'' and debt meet, they destroy each other. If you just paid off the principal on the Treasury Bonds, the ''currency'' supply would vanish. So the monetary policy/system technically forces the country to go deeper into debt every year or else the whole thing goes into a deflationary collapse. The entire system is designed to require constantly increasing debt just to continue. Which is why they always just kick the can down the road, raising the so-called debt ceiling (which is a complete deluson in itself) until the whole thing collapses under its own weight. They just donlt want it happening on their watches, whuch is why they keep kicking the can.

Now, however, the Fed is losing its ability to control the cost of what you refer to as ''money.''

And that's why we're seeing the digital currency hustle being introduced. This will allow them to modify the value of ''currency'' at will. The implementation of digital currencies free the central bank and speculators from having to use slower, clumsier means of manipulating stocks, bonds, commodities, and currencies in order to manipulate currency and other types of value. They'll be able to walk away from their generational crime and fraud at the convenience of a push of a button.

And don't even get me started on that whole assault on physical mediums of exchange with that whole ''vee haz eenfeeltrated zee cabeenets und you veel own nussing und you veel be happy shenanigan.

 

[Natural Citizen]

I've already heard your comically wrong monatarist opinions on the Fed....No need to rehash them.

It is the gift that keeps on giving, though. So there's that...

 

[Toddsterpatriot]

Firstly, it's not money.

It's currency in the form of a Federal Reserve Note. Which is just a claim check on an IOU. Now these IOUs are just a bunch of numbers keyed into a computer, but it's the same thing. Glorified IOUs.

The Treasury and the Fed are just swapping IOUs, using the banks as middle men (open market operations) and creating (and devaluing) ''currency'' out of thin air the wole time.

Money has to be a store of value. Your Federal Reserve Note has no defined unit of account. There is no store of value. Therefore it is not money. Again, it's currency.

That's your number one shortcoming in debating this stuff. It always has been.

Your question is redundant because all they do is keep repeating the same process of trading IOUs back and forth over and over and over and over again through that shell game called open market operations. There's never enough ''currency'' to pay off the debt because there is more debt in the system than there is ''currency.'' It's a revolving door. While paying the principal does extinguish some of the debt, debt also extinguishes ''currency.'' When ''currency'' and debt meet, they destroy each other. If you just paid off the principal on the Treasury Bonds, the ''currency'' supply would vanish. So the monetary policy/system technically forces the country to go deeper into debt every year or else the whole thing goes into a deflationary collapse. The entire system is designed to require constantly increasing debt just to continue. Which is why they always just kick the can down the road, raising the so-called debt ceiling (which is a complete deluson in itself) until the whole thing collapses under its own weight. They just donlt want it happening on their watches, whuch is why they keep kicking the can.

Now, however, the Fed is losing its ability to control the cost of what you refer to as ''money.''

And that's why we're seeing the digital currency hustle being introduced. This will allow them to modify the value of ''currency'' at will. The implementation of digital currencies free the central bank and speculators from having to use slower, clumsier means of manipulating stocks, bonds, commodities, and currencies in order to manipulate currency and other types of value. They'll be able to walk away from their generational crime and fraud at the convenience of a push of a button.

And don't even get me started on that whole assault on physical mediums of exchange with that whole ''vee haz eenfeeltrated zee cabeenets und you veel own nussing und you veel be happy shenanigan.

And after the Federal Reserve gets paid, what does the Fed do with the currency?

 

[Natural Citizen]

And after the Federal Reserve gets paid, what does the Fed do with the currency?

I just told you how it works, Toddster.

It's a revolving circle of IOUs.

And you know that. Quit playing dumb.

When the Fed opens up its ''checkbook'' it's writing a check which is drawn on an account that has nothing in it. Here the Fed is committing Fraud.

To repeat. Empty suit politicians say ''hey, vote for me because I'll make sure that the government provides you with more free stuff than my opponent say's he will.''

The politicians then vote for the country to spend more than its income.

This is called ''deficit spending.''

The Treasury then issues IOU bonds. Which are the nation's debt.

The banks then buys those IOU bonds with ''currency''...which is not money. It's a claim check on an IOU. Again, ''money'' has to be a store of value and a defined unit of account, unlike your Federal Reserve Note which, again, is just a claim check on an IOU.

The Federal Reserve then writes IOU checks and hands them to the banks in exchange for the Treasury's IOU Bonds. These ''checks' are drawn on an account that has nothing in it.

Thus more ''currency'' is created.

Again, what is hapening here is that the Federal Reserve and the Treasury are just swapping IOUs using the banks as middle men and ''currency'' (more, IOUs) magically comes into existence out of thin air.

This process repeats over and over and over and over and over again, enriching the banks and indebting the public by raising the national debt.

The end result is that there is a build-up of bond at the Federal Reserve and 'currency' at the Treasury.

This process is where all paper ''currency'' comes from.

The Federal Reserve and the government incorrectly call it ''base money'' because they (like you, Toddster) don't know the difference between ''money'' and ''currency.''

It's correctly called ''base currency'' because it is not ''money.'' It is ''currency.''


As usual, you're clearly not interested in functional discussion. At least when it comes to this particular topic of debate anyway. And I get it. I understand your reasoning. Your livelihood depends on the people being ignorant to the function. Open market operations is what you do, right?

 

[progressive hunter]

Was the Fed created by democrats or Republicans?

Why was it created?

it was created by progressives from both partys,,

 

[Natural Citizen]

Ah well.

The nation is 31 trillion dollars in debt. And it's only growing.

The process which I've just briefly explained repeats over and over and over and over and over again, enriching the banks and indebting the public by raising the national debt.

Observably.

The solution is to repeal the 16th amendment, audit (a true audit) and end the Fed and get back to genuine free markets where the market tells the government what to do rather than what we have going on now where the government tells the market what to do.

Really, you have no choice. The system is finite. And they know it. The Fed is clearly losing its ability to control the price of what they refer to as ''money.''

It's why the Fed wants to move to swiftly toward digital currencies. It's why physical mediums of exchange are under assault. It's why they're saying that you veel own nussing und you veel be happy. The Keynesian system is designed to fail over time.

Not only does it promote bad economics, it privatizes profits and socializes losses and it undermines liberty. The name of the game is bailout.