The Instigator
Jasonspitfire
Pro (for)
Winning
21 Points
The Contender
Maya9
Con (against)
Losing
14 Points

Federal Reserve.. Good Or Bad?

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Post Voting Period
The voting period for this debate has ended.
after 5 votes the winner is...
Jasonspitfire
Voting Style: Open Point System: 7 Point
Started: 1/6/2009 Category: Politics
Updated: 5 years ago Status: Post Voting Period
Viewed: 1,278 times Debate No: 6421
Debate Rounds (3)
Comments (5)
Votes (5)

 

Jasonspitfire

Pro

The Federal Reserve Does So Much More Bad Than Good and to back that sentence up. I have done a bit of Research Of The Federal Reserve. I have Found out The following FACTS..

1. The Federal Reserve Is A Private Cooperation.
1a) It is literally as Federal as Coca-Cola.
2b) Corporations usually are in business for their own benefit.

2. The Federal Reserve Makes Its Own Policies.
2a) So.. A Private Cooperation That Not Only Makes Our "money" but its own policies as well.
2b) The U.S. Government has really not much say in how a corporation should run as well as its Practices & policies

3. Interest Loans.
3a) It loans all currency to the united states at a interest rate for each and every dollar that is circulated.

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Sources:
www.federalreservefraud.com/
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www.jesus-is-savior.com/Evils in Government/Federal Reserve Scam/federal_ reserve.htm
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The Money Masters - How Banks Create the World's Money (DVD)
http://shop.wnd.com...
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YouTube Video Included As Source.
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So.. Remember The united states has a 800 billion dollars a year deficit for us to spend our own money.. Again Look at those points. I Brought Up, Watch the Video.. And Anyone Disagree with The Federal Reserve Doing More Bad Than Good? Write About It.

-Jason.
Maya9

Con

Okay. So how exactly do any of these things make the Federal Reserve a BAD thing?

"1. The Federal Reserve Is A Private Cooperation.
1a) It is literally as Federal as Coca-Cola.
2b) Corporations usually are in business for their own benefit."

So what you're saying is that any entity that is corporate is bad, and that any business that operates for its own benefit is also bad? What is your proof for this assertion?

"2. The Federal Reserve Makes Its Own Policies.
2a) So.. A Private Cooperation That Not Only Makes Our "money" but its own policies as well.
2b) The U.S. Government has really not much say in how a corporation should run as well as its Practices & policies"

Again, what is your proof that these things are actually bad? The U.S. government doesn't exactly have a great track record when it comes to internal management of federal agencies.

"3. Interest Loans.
3a) It loans all currency to the united states at a interest rate for each and every dollar that is circulated."

Once again, how this a bad thing?

Furthermore, your "facts" are highly debatable. You say that the federal government has little say in the practices and policies, yet the fact remains that the Board of Governors of the Federal reserve is presidentially appointed. (http://www.federalreserve.gov...)

How do you answer the fact that the Federal Reserve being largely self-funded spares the taxpayers huge amounts of money, compared to what would be required of taxpayers in a completely government-controlled system which would be funded solely by tax revenues?

Note: Personally, I am actually AGAINST the Federal Reserve. However, your starting argument was so poor that I just couldn't resist the opportunity to poke holes in it.
Debate Round No. 1
Jasonspitfire

Pro

"1. The Federal Reserve Is A Private Cooperation.
1a) It is literally as Federal as Coca-Cola.
2b) Corporations usually are in business for their own benefit."

I am not saying that cooperate is bad as well as any business that is in it for their own benefit. However when it comes to our money, and our economy, how would it be a good thing to allow a private cooperation to have complete control over our monetary system when they're in it for their own benefit?

"2. The Federal Reserve Makes Its Own Policies.
2a) So.. A Private Cooperation That Not Only Makes Our "money" but its own policies as well.
2b) The U.S. Government has really not much say in how a corporation should run as well as its Practices & policies"

The U.S. Government may not have a great track record when it comes to management of federal agencies however
they must not have a great track record when it comes to hiring or appointing agencies. the FED has no true audits. and Congress is poorly informed on actions and plans in which the FED decides to do with our monetary system. ( youtube video; refer to 1 Minute 30 seconds in video. I provided in opening argument.) So What would a little more regulation or paying more attention or congress having more say in our monetary system. What would it hurt? and besides how was our previous system failing before the FED in 1933? Why mess with something that works?

"3. Interest Loans.
3a) It loans all currency to the united states at a interest rate for each and every dollar that is circulated."

Why should we have to spend money on something that we already own? Its Our Money.. Why spend money lots of money so we can spend some money? with no real true backing. If you look at a bill before 1933.. It states that it is redeemable in gold. Then You If you look at a dollar bill today it clearly states that it is LEGAL TENDER. It doesn't state that it is backed by anything. and by technicality its worthless paper..

If you look at it. Either way we're spending tax revenues on this. because how would they be getting paid?? I don't think they just print off more money and consider themselves paid.. That would be nonsense. So How Would they be gaining if it wasn't funded by tax revenues?
Maya9

Con

"I am not saying that cooperate is bad as well as any business that is in it for their own benefit. However when it comes to our money, and our economy, how would it be a good thing to allow a private cooperation to have complete control over our monetary system when they're in it for their own benefit?"

That is not an argument. You started this debate. You're saying that it is not a good thing to allow a private corporation (in fact, it isn't technically a corporation and you don't even seem to know what a corporation is) and instead of providing a reason for why this is so, you turn around and ask me why it IS a good thing. Not only is that extremely bad debating, it is borderline rude.

But I'll play. Generally speaking, private employees are payed far better than government employees performing basically the same functions. Money, as we so well know, is an incentive. It is easily observed that when people have a greater incentive to do something, they usually do it better. I say "usually" because there is a certain point where ability limits a person's performance. (http://www.news.utoronto.ca...) Following that, it can be said that it is very likely that private employees of the Federal Reserve will perform their functions better than government employees (being paid less) with the same job.

"The U.S. Government may not have a great track record when it comes to management of federal agencies however
they must not have a great track record when it comes to hiring or appointing agencies. the FED has no true audits. and Congress is poorly informed on actions and plans in which the FED decides to do with our monetary system. ( youtube video; refer to 1 Minute 30 seconds in video. I provided in opening argument.) So What would a little more regulation or paying more attention or congress having more say in our monetary system. What would it hurt? and besides how was our previous system failing before the FED in 1933? Why mess with something that works?"

You are starting to contradict yourself. You are saying that the U.S. government does not having the competence to hire an agency, yet you then go on to say that the same government should be given the even greater responsibility of performing the functions of this agency themselves. Well, THAT makes sense...

I'm afraid you're going to have to provide more credible evidence than a YouTube video of Ron Paul if you want me to take it seriously.

"Why should we have to spend money on something that we already own? Its Our Money.. Why spend money lots of money so we can spend some money? with no real true backing. If you look at a bill before 1933.. It states that it is redeemable in gold. Then You If you look at a dollar bill today it clearly states that it is LEGAL TENDER. It doesn't state that it is backed by anything. and by technicality its worthless paper.."

This paper has worth because we assign worth to it. Gold also has worth because we assign worth to it. You may say that gold has objective worth because it is rare, but this is illogical. There are many things in existence that are rare, but we do not assign worth to all of them. Now, gold DOES have practical use (I'm trying to help you out here), but not for most people.

"If you look at it. Either way we're spending tax revenues on this. because how would they be getting paid?? I don't think they just print off more money and consider themselves paid.. That would be nonsense. So How Would they be gaining if it wasn't funded by tax revenues?"

What the hell are you talking about? Have you actually done any of your own research, or are you just relying on "research" done by others? The Fed is largely SELF-FUNDED. More than 90% of the Fed's revenues come from open market operations. (http://www.chicagofed.org...)

And you are aware that the Fed aren't the one's in charge of making money, right? You seem to believe that they are. That is the responsibility of the Treasury Department.
Debate Round No. 2
Jasonspitfire

Pro

Jasonspitfire forfeited this round.
Maya9

Con

What a pity. I was hoping for better.
Debate Round No. 3
5 comments have been posted on this debate. Showing 1 through 5 records.
Posted by felipmartin 5 years ago
felipmartin
yes, maya is a HORRIBLE sport...pro you got it
Posted by fo-shizzle 5 years ago
fo-shizzle
my vote goes for the pro because maya is a poor sport
Posted by Maya9 5 years ago
Maya9
My opponent is winning despite the fact that he didn't even bother to post in the final round. It just goes to prove how many idiots there are on this site.
Posted by Ragnar_Rahl 5 years ago
Ragnar_Rahl
If something created by an Act of Congress is a "Private Corporation" then... what isn't?
Posted by s0m31john 5 years ago
s0m31john
ronpaulronpaulronpaulronpaulronpaulronpaulronpaul
5 votes have been placed for this debate. Showing 1 through 5 records.
Vote Placed by felipmartin 5 years ago
felipmartin
JasonspitfireMaya9Tied
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Vote Placed by JBlake 5 years ago
JBlake
JasonspitfireMaya9Tied
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Vote Placed by mecap 5 years ago
mecap
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Vote Placed by DiablosChaosBroker 5 years ago
DiablosChaosBroker
JasonspitfireMaya9Tied
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Vote Placed by s0m31john 5 years ago
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