In this thread we discuss the Federal Reserve. If you have no idea about it, pic related is an introduction on the working of the FED, and some of its implications.
Federal Reserve is (((privately))) owned by the way, and the "federal" in "federal reserve" is just a marketinggag.
Should we keep the FED?
Restructure it?
Get rid of it?
I am for "get rid of it" for reasons in pic related
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Fuck em up the ass with bitcoin
i dont believe those are better. in general you see a big push towards digital currencies away from physical ones. most probably to enable total controll of the money flow, totall oversight, and the abillity to manipulate the numbers however it fits (((them))). my oppinion is we should get away from the fiat money system, get some real backing of the money. at best get rid of money in general and make people work and help each other because they want to do so. but i assume humanity needs to mature a lot till we accomplish that
Shameless selfbump
youtube.com
Good video on the subject
It's not a coincidence how there's only been a few countries in recent years left that refused an international corporation owned "central bank" that include Libya & Iraq...
Apparently euros care more about the enslaved americans than the americans do
At least we didn't ever even have a choice, having always been peasants. Americans literally gave away their freedom for a $100 loan.
the funny thing is that idiots such as yourself consider themselves redpilled or smarter than others.
Incredible how much the internet enables giga ronnys such as yourself to parade their stupidity around.
I had to read "The Fed" for economics. A lot of the stuff out there is bullshit. The Fed is set up like a blind trust, in that the shareholders can't influence policy. The Fed only makes money on administration and as a clearinghouse for checks, anything in excess is returned to the treasury. Read the book or about the Fed from reliable sources, most of the info out there is not true.
i believe the only countries left without central bank are cuba and north korea, and prior to the middle east thing some countries in there.
By the way, JFK basically robbed the FED the power with Executive order 11110. It enabled the US to issue its own (i believe silver-backed) currency making them independent from the FED. They even got a few billion of the new currency in circulation, but than the (((lone gunman))) happened, the new currency got drawn out of circulation again, FED took on business as usual and noone ever spoke about EO11110 ever again until it got put out of power indirectly through another EO.
the creature of jekyll island describes the workings of the FED in coorperations of IMF and other institutions pretty well
The only time Jesus ever got mad was at the money changers.
The Fed are the money changers.
Google Henry Ford on banking. He was no fan of the Jews.
A central bank not formally part of the government is absolutely necessary. If government can print and distribute its own money things get out of hand really quick. A seperate institution facilitating this leads to stability and a sensible monetary policy. Just look at how for example Israel's inflation improved after its central bank was made independent in the '80s.
jesus also didnt like the synagouge of satan, those who say they are jews, but are not, (((they))). nowadays the moneychangers are owned by the synagouge of satan. maybe we deserve eternal damnation for letting it come this far
It's part of the blockchain - (((they))) cannot manipulate it, as much as they want to. The worst a government can do is make it illegal, but it doesn't mean you need to turn anything over if your storing your bitcoins on a harware/paper wallet. And one government's actions to stop bitcoin doesn't stop other countries from still using it. I have no problem with digital format since it is necessary with the levels of worldwide transactions occurring. What I have a problem with is a digital currency centrally controlled, which is what the Fed provides us.
we just need money that isnt just backed by hope and good wishes. if we have some currency backed by silver or gold, or anything else with a stable value, than the money cant be printed easily as the moneysupply always have to fit the stocks of what its supported by.
israels improvement of the inflation could easily have come by the intake of foreign currency, especially the dollar. by building a supply of this the israeli currency would also increase its value as the same money supply is backed by a greater amount of dollars as before increasing its value. and the US likes to blast money into israels ass. nothing to do with wether or not the bank is privatly owned. its just about who is in charge, and how he manages it
Israel is hardly the only example though. You know how when a government is given the choice between reducing spending and raising taxes it will ALWAYS raise taxes because it's easier? Guess what. Printing money is even better. Mo' money fo' them programs will hyperinflate your currency real quick.
I'm all for a gold standard though, or something similar.
but wether they government prints the money themselves, or lets someone print it doesnt make any difference. this way the government just gets additionally indebted to the bankers which then can use it as leverage. the FED or any central bank will print as much money the the government desires as more money means more debt, which means more controll over the government.
The book I had to read is a textbook. It describes every detail of the system, and is very boring. Basically the Fed is a government regulated institution and any profit it realizes is returned to the treasury.
except all the money it gets comes from the people and the government, whichs money also comes from the people, in an effort to pay the debt the government made in their name with the additional interest. its just another way of channeling the peoples money towards the government and just like inflation its just another hidden tax. its difficult to raise taxes as people dont like it. so you just push for more inflation which transfers "buyingpower" from the people towards the government
But it does matter. You assume the FED will print money at the government's request but this is simply not true. The FED has an independent policy and generally doesn't take orders from USG. This is a HUGE contrast with a single organization being in charge of both production and spending of money.
I realize we're on Sup Forums so everything is a giant Jewish conspiracy but there are actual valid reasons to have a central bank.
it may doesnt take orders, but that is one of the issues. it isnt legally binded to do the governments bidding. it can print or not print whenever it wants, and thus can throw the US into chaos, or save it from it. the government wouldnt want to have it as an enemy so of course the government will do the FEDs bidding. imagine the FED just deciding to bring more and more money into circulation causing a huge inflation. or just stop printing money when the government deeply expected them to do so, and needs it for their funding fucking over the whole budget.
>it may doesnt take orders, but that is one of the issues. it isnt legally binded to do the governments bidding. it can print or not print whenever it wants
Yes. This is exactly the point.
Sure, a malicious FED may cause mayhem but the alternative is USG in charge of money which will DEFINITELY cause mayhem. Government simply cannot be trusted with the production of money because they are always in need of money. It's like giving a junkie an unlimited heroin supply. At least with a FED in place, the junk won't be given an overdose. It'd be preferable for him to kick the habit, but that isn't one of the options.
What alternative system do you propose?
the FED in privately owned hands is like a heroin dealer with infinite moneysupply, while the government is the heroin addict with infinite moneysupply. the addict keeps buying and the dealer keeps selling. thats in no way better. except the government "buys" the heroin with debt, which means it will be dependent on the dealer, on the FED. if you really think the FED as any good intentions i feel really sorry for you
>Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve System. I would like to say to Milton and Anna: Regarding the Great Depression. You're right, we did it. We're very sorry. But thanks to you, we won't do it again. - Ben Bernake
and then the financial crisis 2007 hit. but of course it was again "just the bad economy"
>the FED in privately owned hands is like a heroin dealer with infinite *heroinsupply
Yeah I remember when I first watched Zeitgeist but it really isn't that simple. Thus far, the FED has mostly done a good job.
>i feel really sorry for you
Not an argument
Again: what alternative system do you propose? USG in charge of money supply WILL lead to hyperinflation.
bind the moneysupply to the supply of some metalls or others goods with stable value, and having for every dollar printed put another dollar worth of the goods into the storage. maybe just have a fixed money supply. maybe its time to finally move on from money as a whole, even though i feel humanity isnt ready for this yet. another option would be to enable every bank to print money, which will result in the banks having to create a stable currency, as when their money is subject to constant inflation they will look for a more stable bank. monopolies are bad for the economy, and i assume the monopoly on printing money is the same. would complicate some things as prices would have been issued for every currency, but it would make the corruption and controll of the issue harder as well
I don't see how you get rid of the Fed without getting rid of the current banking system. You're talking about a total reset of everything, when you talk about getting rid of them. Maybe that's what's needed? Dunno.
I think a more modest step would be to nationalize them and bring them completely under government control. The whole nonpartisanship is bullshit. They are political, they are partisan, it's only a pretense that's worn through IMHO.
I dunno, like with healthcare, I've pretty much given up on any meaningful reforms happening though. I think things will keep chugging along until the pretenses can't be propped up any longer and then it'll all collapse.
Make sure you aren't too dependent on their systems so you can make it through to the other side.
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White Helmets are winning the information war
go tweet
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as you said, it will either be a complete reset, or a few years of status quo with a huge collapse after it. after the collapse they most certainly try to reinstall the same system among the chaos beginning just another cycle of it, so i rather take the reset now and start building something better right now instead of keep pushing it back and increase the damage even more
some selfbump
second selfbump. if noone cares i will let it slide