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originally posted by: madenusa
If this generation looses there cell phone service it will be an zombie apocalypse. "matrix" how do I think now independently..
originally posted by: subfab
originally posted by: madenusa
If you have an adequate food and water supply, you better have an adequate gun and ammo supply... this generation is not like the 20s
originally posted by: Lumenari
originally posted by: CharlesT
originally posted by: Lumenari
a reply to: BeefNoMeat
I dunno... from what I just read in the OP Trump is pushing for hyperinflation?
Only conclusion I got out of it... which would be a silly gamble with diminishing returns....
I don't see any other way to manage the national debt and unfunded liabilities other than to inflate them away.
It's a possibility... the Roaring 20's all over again.
But there is a rather horrible downside to that... see the Great Depression.
I'm no fan AT ALL of the federal reserve, btw. Wilson sold us all out on that deal.
However, an exit strategy would be nice.
Besides the next Great Depression.
this generation is worse.
it's a generation of social media darlings and instagram "models". waiting in line for 8 hours to save $10 at a build a bear.
the only time this generation will get upset is when internet is priced too high and fuel is above $4.50 a gallon.
Without the federal reserve there would be zero banking regulations. This means no oversight at all. This was already done and local banks swindled their customers.
You also would have no protection if your bank went bankrupt. You would simply lose any money you had in an account.
The other thing is interest rates would be set locally before the federal reserve their were banks loaning money with 50 percent interest. It was so bad that banks in huge markets such as san Francisco were charging 3 times the intrest rates of other banks.
Then without a central bank international purchases would be impossible and all foriegn exchange would stop.
People like you have no clue what the reserve does and how important it is.
In fact without it you couldnt even buy stocks on wall street.
Used to be they actually had to open up accounts and transfer the money to the trading floor. So if you wanted to invest you would have had to send them a bank transfer for what ever amount you wanted to buy stocks with.
originally posted by: AugustusMasonicus
originally posted by: Konduit
Most of Congress was on Christmas break when the Federal Reserve Act was voted into law on December 23rd, 1913. Pretty shady business. A coincidence, no doubt.
Where'd you see that?
- Passed the House on September 18, 1913 (287–85, 5 Present)
- Passed the Senate on December 18, 1913 (54–34)
It passed with bi-partisan support. Notice the dates as well. Stop buying into the conspiracy bull****.
It took many months and nearly straight party-line voting, but on December 23, 1913, the Senate passed and President Woodrow Wilson signed the Federal Reserve Act.
This is the tightest monetary policy since Paul Volcker headed the institution in the mid-1980s. It will be recalled his policies led to back-to-back recessions. Current Fed monetary policy is directly in conflict with the president’s economic goals.
Bottom Line
The president can and will take control of the Fed. It may be recalled when the law was written creating the Federal Reserve the secretary of the Treasury was designated as the head of the Federal Reserve. We are going to return to that era. Like it or not the Fed is about to be politicized.
Government meddling causes most problems that don't quickly self resolve.