Originally posted by endisnighe
Duuuude, am I getting through?![]()
The Federal Reserve, supposedly, is a US system. It is NOT!
Supposedly? According to whom? The Federal Reserve is a private corporation designed to bilk the wealth of the U.S., and should be abolished.
Originally posted by endisnighe
Second, combine the IMF and the Federal Reserve, they are the same entity.
As is any privately owned centralized bank.
Originally posted by endisnighe
I was thinking of contributing more, but I think I have said enough. Hell, as long as I do not become the president, I will not be shot!
The sad part is that if you became an altruistic president you'd likely get shot.
Originally posted by endisnighe
Think about this, if $1 dollar in 1913 equals $.03 today, where did the $.97 go?!
Into the void now that we're using fiat Federal Reserve notes. I had a long battle years back with a Macro Economics professor who saw no issue whatsoever with the discontinuation of the M3 report. I'll repeat that; he saw no issue with the discontinuation of the M3 report, and he was a Macro Economics professor.
There are only 3 things giving fiat Federal Reserve notes value.
1) Scarcity: By discontinuing the M3 there is now no accurate gauge to know how many reserve notes are in circulation. How's that for a free invitation for them to "Print all ya want!"?
2) Consumer confidence/Faith in the Federal gov. : With bubbles bursting right and left these past few years, deficit spending through the roof, and an out of control national debt... this leg is on very shaky grounds.
3) Oil: Oil is traded in USD; so every country must maintain a USD reserve to buy/sell oil in the market today.
Leg 1 has been lopped off, leg 2 is shaking in it's boots, and leg 3... well, lets put it this way. Shortly before the Iraq war Saddam was threatening to trade Iraqi oil in euros. The only "WMD" the administration feared was a weapon of economic mass destruction. Iran was threatening the same, but backed off shortly after seeing what happened to Saddam.
Think about that!
[edit on 4/10/10 by redmage]


Also, while I have mixed feelings about parts 1 & 2, part 3 of