What Good Is The Federal Reserve?

Happy Sunday. Sunday is often a day study for me, expanding horizons and all that rot. I cover a variety of subjects - but economics comes up a lot because I listen to two podcasts/radio shows quite often.

One of them is the Ralph Nader Radio hour. In this weeks episode Ralph is in discussion with:

"Sarah Bloom Raskin has been a Commissioner of Financial Regulation for the State of Maryland, who then went on to serve as a governor at the Federal Reserve from 2010 to 2014. From there, she became the first female Deputy Secretary of the United States Treasury from 2014 to 2017. A graduate of Harvard Law School, Ms. Raskin is currently a Rubinstein Fellow at Duke University."

For those that are interested you can find the podcast at:

ralphnaderradiohour.com...

A quote to whet your whistle:

“The metrics that this president (Trump) likes to point to [are] a booming stock market and a low unemployment rate.

Well, unfortunately, there are more metrics that go to economic well-being.

And one of the first orders of the day is to make sure people understand that there is more to measuring the economy than just market performance or the unemployment rate…

If you think that those two measures alone can underscore for Americans some of the real anxiety and hardship that different communities are feeling right now, I think you’re on another planet.”


Sarah Bloom Raskin, former Fed governor & Deputy Secretary of the Treasury

ENJOY...

back to my spreadsheet.

a reply to: FyreByrd

I would say those are the two most common things mentioned by every POTUS in my memory. The fact is the vast majority of average Americans barely have the economic prowess to listen for that long without getting confused or losing interest. This Isn’t some big change with Trump in office.

This is a country where our "professional" budget makers are incapable of balancing federal expenditure. Clear indicator that people just don't get it.

I will use a baseball analogy here. There are so many statistics to measure a players offensive performance, but Batting Average and Slugging Percentage are most commonly used. While there can still be weaknesses in the overall performance, generally you can use just the two to get an idea that a player is having a good season. The economy isn’t any different.

a reply to: FyreByrd



The system in engineered so the American people will never get out of debt until the dollar collapses to zero value.

"Give me control of a nations money supply, and I care not who makes it’s laws". Mater Amschel Rothschild

Lincoln and Kennedy had the solution to take the power away from the Federal Reserve. Both were assassinated:

During the Civil War (1861-1865), President Lincoln needed money to finance the War from the North. The Bankers were going to charge him 24% to 36% interest. Lincoln was horrified and went away greatly distressed, for he was a man of principle and would not think of plunging his beloved country into a debt that the country would find impossible to pay back.

Eventually President Lincoln was advised to get Congress to pass a law authorizing the printing of full legal tender Treasury notes to pay for the War effort. Lincoln recognized the great benefits of this issue. At one point he wrote:

"(we) gave the people of this Republic the greatest blessing they have ever had – their own paper money to pay their own debts..."

The Treasury notes were printed with green ink on the back, so the people called them "Greenbacks".

Lincoln printed 400 million dollars worth of Greenbacks (the exact amount being $449,338,902), money that he delegated to be created, a debt-free and interest-free money to finance the War. It served as legal tender for all debts, public and private. He printed it, paid it to the soldiers, to the U.S. Civil Service employees, and bought supplies for war.

Shortly after that happened, The London Times printed the following: "If that mischievous financial policy, which had its origin in the North American Republic, should become indurated down to a fixture, then that Government will furnish its own money without cost. It will pay off debts and be without a debt. It will have all the money necessary to carry on its commerce. It will become prosperous beyond precedent in the history of the civilized governments of the world. The brains and the wealth of all coun­tries will go to North America. That government must be destroyed, or it will destroy every monarchy on the globe."

Lincoln was destroyed!

a reply to: Metallicus

I think you are being delusional. You just can't lie about the documented facts:

Purchasing Power of the Consumer Dollar

originally posted by: Ksihkehe
a reply to: FyreByrd
This is a country where our "professional" budget makers are incapable of balancing federal expenditure. Clear indicator that people just don't get it.

You seem like a smart guy. But balancing the federal expenditure has NOTHING to do with it. See the 3 hour video I referenced above. Just listen to 10 minutes of it. The problem is the system is rigged. The printing of money has an interest payment attached to it. It is impossible for this country to ever get out of debt public and private because of inflation.

I am commenting on the title only here.
What Good Is The Federal Reserve?

To feed the Capitalist Beast. Wall Street and the banks.
To pump up the stock market to maximum peak capacity and then to crash it again.
All involved earn profits during the good times and the bad. It's perpetual. Up they make money and down they make money. Problem is they are gambling with our life''s comforts and security.

Read up on derivatives trading.

a reply to: dfnj2015

i always like to post this for those of us that have short attention spans and can't stand long drawn out explanations when shorter ones will do. then if your interested i recommend The Creature from Jekyll Island. there are other sources, but these are my go to for starters.

originally posted by: dfnj2015
a reply to: Metallicus

I think you are being delusional. You just can't lie about the documented facts:

Purchasing Power of the Consumer Dollar

And you can’t just dismiss facts that don’t support your narrative.

originally posted by: dfnj2015

originally posted by: Ksihkehe
a reply to: FyreByrd
This is a country where our "professional" budget makers are incapable of balancing federal expenditure. Clear indicator that people just don't get it.

You seem like a smart guy. But balancing the federal expenditure has NOTHING to do with it. See the 3 hour video I referenced above. Just listen to 10 minutes of it. The problem is the system is rigged. The printing of money has an interest payment attached to it. It is impossible for this country to ever get out of debt public and private because of inflation.

My comment about balancing the budget was simply to illustrate the level of awareness, even among policy makers, in America. Very few of them really seem to understand enough about fiscal matters to understand the harm an imaginary currency has done. It's constantly degraded by deliberately fabricating more and more money for banks to play with.

originally posted by: Metallicus

originally posted by: dfnj2015
a reply to: Metallicus

I think you are being delusional. You just can't lie about the documented facts:

Purchasing Power of the Consumer Dollar

And you can’t just dismiss facts that don’t support your narrative.

Isn't that what you did in your "you only need two numbers..." sermon?

originally posted by: Metallicus

originally posted by: dfnj2015
a reply to: Metallicus

I think you are being delusional. You just can't lie about the documented facts:

Purchasing Power of the Consumer Dollar

And you can’t just dismiss facts that don’t support your narrative.

Your so called "facts" are "opinions". There's a big difference.

Here's some really good fact for you:

Percentage of people actually employed

Compared to 1999 levels the economy is just doing okay.

I showed you my facts. Now you show me yours.

originally posted by: dfnj2015

originally posted by: Metallicus

originally posted by: dfnj2015
a reply to: Metallicus

I think you are being delusional. You just can't lie about the documented facts:

Purchasing Power of the Consumer Dollar

And you can’t just dismiss facts that don’t support your narrative.

Your so called "facts" are "opinions". There's a big difference.

Here's some really good fact for you:

Percentage of people actually employed

Compared to 1999 levels the economy is just doing okay.

I showed you my facts. Now you show me yours.

Just a couple of addenda to the above facts:

Nice chart - by their own definition 'employed' means

In the Current Population Survey (CPS), people are classified as employed if, during the survey reference week, they meet any of the following criteria:

worked at least 1 hour as a paid employee (see wage and salary workers)

worked at least 1 hour in their own business, profession, trade, or farm (see self-employed)Dec 3, 2018

www.bls.gov... › cps › definitions
Concepts and Definitions (CPS) - Bureau of Labor Statistics

Hardy full employment (a Fed Charter goal.)

And 2)

Does not list quality of job (salary).

Take a look at the Job Quality Index - they use BLS data to see where the 'new' jobs are positioned in terms of pay & benefits.

d3n8a8pro7vhmx.cloudfront.net... 278517

originally posted by: dfnj2015

originally posted by: Ksihkehe
a reply to: FyreByrd
This is a country where our "professional" budget makers are incapable of balancing federal expenditure. Clear indicator that people just don't get it.

You seem like a smart guy. But balancing the federal expenditure has NOTHING to do with it. See the 3 hour video I referenced above. Just listen to 10 minutes of it. The problem is the system is rigged. The printing of money has an interest payment attached to it. It is impossible for this country to ever get out of debt public and private because of inflation.

I might disagree with you a bit though I acknowledge that you may be correct. I think that public banking of taxpayer funds, as others do, Mexico is makes a large move in this direction, is a good starting point and would mitigate the worst 'extraction' techniques of the Finance Gods.

After they walked up to our great 'leaders', which started in England, being the most powerful, dominant, influential nation in the world, at the time, and for many centuries before that, as we know.

To control the world's money, they only had to control England's money, and they knew it, of course.

However, after America became the world's most powerful nation, or could soon be, in late 19th century, onward, it was seen as a threat, since only Europe was in control at the time, when England was fleeced...

They simply did it once again, like before, with England's money, just with other tricks instead, and a new name, which fools people, into thinking the government is in control of the nation's money, and economic system!

Nobody would ever think of 'federal' as NOT being a government, federal agency, so 'Federal Reserve' is to fool people into believing it IS a federal agency, like FBI, for example.

That alone signals it is a ruse, a sham, from the start. If it was valid, it wouldn't name itself 'federal', when it is NOT federal in any way!

It's merely another illusion, like usual.