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Federal Reserve

lewis20
Posts: 5,093
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12/31/2010 3:19:52 AM
Posted: 5 years ago
Does anyone think it's a good idea to let a private central bank control the countries money?
"If you are a racist I will attack you with the north"- Abraham Lincoln

"Do not wear clothing woven of two kinds of material" - Leviticus 19 19

"War is a racket" - Smedley Butler
GeoLaureate8
Posts: 12,252
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12/31/2010 3:44:01 AM
Posted: 5 years ago
At 12/31/2010 3:19:52 AM, lewis20 wrote:
Does anyone think it's a good idea to let a private central bank control the countries money?

No.
"We must raise the standard of the Old, free, decentralized, and strictly limited Republic."
-- Murray Rothbard

"The worst thing that can happen to a good cause is, not to be skillfully attacked, but to be ineptly defended."
-- Frederic Bastiat
PARADIGM_L0ST
Posts: 6,958
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12/31/2010 6:52:50 AM
Posted: 5 years ago
At 12/31/2010 3:19:52 AM, lewis20 wrote:
Does anyone think it's a good idea to let a private central bank control the countries money?:

"If the people ever allow the banks to issue their currency, the banks and corporations which will grow up around them will deprive the people of all property, until their children wake up homeless on the continent their fathers conquered." -- Thomas Jefferson

"History records that the money changers have used every form of abuse, intrigue, deceit and violent means possible, to maintain their control over governments, by controlling money and its issuance." -- James Madison

"I am one of those who do not believe that a national debt is a national blessing, but rather a curse to a republic, inasmuch as it is calculated to raise around the administration a monied aristocracy dangerous to the liberties of the country." -- Andrew Jackson

"The money powers prey on the nation in times of peace and conspire against it in times of adversity. The banking powers are more despotic than monarchy, more insolent than autocracy, more selfish than bureaucracy. They denounce as public enemies all who question their methods or throw light upon their crimes." -- Abraham Lincoln

"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation therefore, and all our activities, are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world. No longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men." -- Woodrow Wilson
"Have you ever considered suicide? If not, please do." -- Mouthwash (to Inferno)
wamba
Posts: 688
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12/31/2010 8:35:54 AM
Posted: 5 years ago
At 12/31/2010 3:32:26 AM, FREEDO wrote:
Centralized planning has never been a good thing.

Monetary policy =/= centralized planning.
wamba
Posts: 688
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12/31/2010 8:37:02 AM
Posted: 5 years ago
At 12/31/2010 6:52:50 AM, PARADIGM_L0ST wrote:
At 12/31/2010 3:19:52 AM, lewis20 wrote:
Does anyone think it's a good idea to let a private central bank control the countries money?:

I don't have any real knowledge on the issue so here is a bunch of quotes from some famous people who sound like they know what they are talking about.
PARADIGM_L0ST
Posts: 6,958
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12/31/2010 8:47:22 AM
Posted: 5 years ago
I don't have any real knowledge on the issue so here is a bunch of quotes from some famous people who sound like they know what they are talking about.:

I'm sorry but you're going to have to take the dick out of your mouth for me to understand you.
"Have you ever considered suicide? If not, please do." -- Mouthwash (to Inferno)
wamba
Posts: 688
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12/31/2010 9:22:39 AM
Posted: 5 years ago
At 12/31/2010 8:47:22 AM, PARADIGM_L0ST wrote:
I don't have any real knowledge on the issue so here is a bunch of quotes from some famous people who sound like they know what they are talking about.:

I'm sorry I don't understand anything.

It's ok
djsherin
Posts: 343
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12/31/2010 10:54:36 AM
Posted: 5 years ago
At 12/31/2010 3:19:52 AM, lewis20 wrote:
Does anyone think it's a good idea to let a private central bank control the countries money?

Doesn't matter if it's nominally private or public. Bad idea either way.
lewis20
Posts: 5,093
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12/31/2010 11:32:23 AM
Posted: 5 years ago
At 12/31/2010 4:49:34 AM, Tidin wrote:
Topics on here suck.

Ha just figured somebody had to think the fed was good
"If you are a racist I will attack you with the north"- Abraham Lincoln

"Do not wear clothing woven of two kinds of material" - Leviticus 19 19

"War is a racket" - Smedley Butler
SuperRobotWars
Posts: 3,906
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12/31/2010 11:58:57 AM
Posted: 5 years ago
At 12/31/2010 6:52:50 AM, PARADIGM_L0ST wrote:
At 12/31/2010 3:19:52 AM, lewis20 wrote:
Does anyone think it's a good idea to let a private central bank control the countries money?:

"If the people ever allow the banks to issue their currency, the banks and corporations which will grow up around them will deprive the people of all property, until their children wake up homeless on the continent their fathers conquered." -- Thomas Jefferson

"History records that the money changers have used every form of abuse, intrigue, deceit and violent means possible, to maintain their control over governments, by controlling money and its issuance." -- James Madison

"I am one of those who do not believe that a national debt is a national blessing, but rather a curse to a republic, inasmuch as it is calculated to raise around the administration a monied aristocracy dangerous to the liberties of the country." -- Andrew Jackson

"The money powers prey on the nation in times of peace and conspire against it in times of adversity. The banking powers are more despotic than monarchy, more insolent than autocracy, more selfish than bureaucracy. They denounce as public enemies all who question their methods or throw light upon their crimes." -- Abraham Lincoln

"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation therefore, and all our activities, are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world. No longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men." -- Woodrow Wilson

So you are against the initial statement I assume . . .
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Ore_Ele
Posts: 25,980
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12/31/2010 1:01:05 PM
Posted: 5 years ago
At 12/31/2010 3:19:52 AM, lewis20 wrote:
Does anyone think it's a good idea to let a private central bank control the countries money?

No, take the "private" out of it and I'd be willing to consider it.
"Wanting Red Rhino Pill to have gender"
TheAtheistAllegiance
Posts: 1,251
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1/2/2011 2:10:51 AM
Posted: 5 years ago
At 12/31/2010 1:01:05 PM, OreEle wrote:
At 12/31/2010 3:19:52 AM, lewis20 wrote:
Does anyone think it's a good idea to let a private central bank control the countries money?

No, take the "private" out of it and I'd be willing to consider it.

It would probably be even worse in that case. Can you imagine voters and populist politicians trying to formulate monetary policy?
TheAtheistAllegiance
Posts: 1,251
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1/2/2011 2:11:37 AM
Posted: 5 years ago
At 1/2/2011 2:10:51 AM, TheAtheistAllegiance wrote:
At 12/31/2010 1:01:05 PM, OreEle wrote:
At 12/31/2010 3:19:52 AM, lewis20 wrote:
Does anyone think it's a good idea to let a private central bank control the countries money?

No, take the "private" out of it and I'd be willing to consider it.

It would probably be even worse in that case. Can you imagine voters and populist politicians trying to formulate monetary policy?

Actually, if it is similar to the way the EPA works, then it might be better...
Sieben
Posts: 2,736
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1/2/2011 10:37:13 AM
Posted: 5 years ago
None of these organizations are accountable to the masses. They aren't rewarded when they act in the common good. In fact, whenever there's a disaster, they get MORE money and power.

The federal reserve gained the right to arbitrarily buy toxic assets from rich bankers during QE1. With QE2, they have given literally trillions of dollars directly to losers like Goldman Sachs, and indirectly given them far more in the form of fractional reserve banking privileges.

The military's budget jumped 50% after 9-11. http://en.wikipedia.org... It is currently around 1 trillion dollars if you count "off the record" expenses. http://www.independent.org...

I could go on, but the point is that they win when we lose. This is the opposite of how any society is supposed to work.
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wjmelements
Posts: 8,206
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1/2/2011 10:56:44 AM
Posted: 5 years ago
At 12/31/2010 3:19:52 AM, lewis20 wrote:
Does anyone think it's a good idea to let a private central bank control the countries money?

A few people do, or it wouldn't still be in place.
in the blink of an eye you finally see the light
TheAtheistAllegiance
Posts: 1,251
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1/2/2011 4:27:04 PM
Posted: 5 years ago
At 1/2/2011 10:37:13 AM, Sieben wrote:
None of these organizations are accountable to the masses. They aren't rewarded when they act in the common good. In fact, whenever there's a disaster, they get MORE money and power.

The federal reserve gained the right to arbitrarily buy toxic assets from rich bankers during QE1. With QE2, they have given literally trillions of dollars directly to losers like Goldman Sachs, and indirectly given them far more in the form of fractional reserve banking privileges.

The military's budget jumped 50% after 9-11. http://en.wikipedia.org... It is currently around 1 trillion dollars if you count "off the record" expenses. http://www.independent.org...

I could go on, but the point is that they win when we lose. This is the opposite of how any society is supposed to work.

Although rich bankers directly benefited from QE1, I would argue that the rest of society indirectly benefited by avoiding an economic depression. QE2, though, is less defensible...
juvanya
Posts: 613
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1/12/2011 2:56:49 PM
Posted: 5 years ago
At 1/2/2011 4:27:04 PM, TheAtheistAllegiance wrote:
Although rich bankers directly benefited from QE1, I would argue that the rest of society indirectly benefited by avoiding an economic depression. QE2, though, is less defensible...
It wasnt necessarily an either-or scenario. AIG couldve cut its rotten parts out and maintained the rest.
juvanya
Posts: 613
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1/20/2011 2:23:47 AM
Posted: 5 years ago
At 12/31/2010 3:19:52 AM, lewis20 wrote:
Does anyone think it's a good idea to let a private central bank control the countries money?
Private or state, no. If the market creates a central bank, so be it.
juvanya
Posts: 613
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1/20/2011 2:24:24 AM
Posted: 5 years ago
There really isnt any need for a central bank when money is accepted as money instead of napkins being forced on the people to be accepted as money.