It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Thank you.
Some features of ATS will be disabled while you continue to use an ad-blocker.
Sorry i do not agree that fiat money is the problem.
Back in 1929 we were on a gold standard but it did not prevent a collapse and the first great depression.
The fed does not expand the money supply in a normal market, that is done through supply and demand,
I don't know what would have happened if they weren't bailed out.
The important thing i guess is that glass steagal should not have been repealed and thus allow investment banks to fail while public banks remain safe.
So to your last question my answer would be glass steagal, and i am stunned by the mortgage fraud, foreclosure fraud, and banks being able to settle for millions while they make billions.
Originally posted by Rockdisjoint
reply to post by byteshertz
Complete nonsense. You could have Jesus himself controlling the money supply and central banking would still be a disaster.
You can not print gold.
More nonsense. My mom doesn't go to work everyday to get dollars, she goes to work to be able to purchase goods and services. Money is the means to allow indirect exchange. So the supply of money doesn't need to grow at all, and any growth of a paper currency would be nothing but counterfeiting.
Or maybe you just need to understand his position on money.
Our money is issued by our govt, the Fed is a part of our govt-- the Fed being private is just socialist propaganda. 95% of the Feds profits are returned to the U.S treasury, the other 5% are use for operating cost.
LOL! No. You have no clue what you're talking about.
This currently isn't happening. In fact I wish the Fed was private, then it would at least have an incentive to keep inflation low and the economy running much smoother.
Complete BS, ever heard of gold leaf?
Please explain what inflation is if you do not believe the value of a currency is determined by how much is in circulation.
I do understand it very well, he has many good ideas and is 10x more educated than anyone else i have seen running but he is step in the right direction - no one man is the direction.
Are you serious? Slap yourself - According to the Board of Governors "its decisions do not have to be ratified by the President or anyone else in the executive or legislative branch of government." - When is the last time the Fed was audited, it is a profit making enterprise that does not have to answer to anyone else. Sure the president gets to choose the head - but thats the same deal the people get... and we all know what a scam that is.
Nice OPINION - full of facts I see.
- “Lewis v. United States 680” (Federal Reserve Bank is privately owned: “
BURN
Maybe you didn't understand my post, my definition of inflation is an increase in the money supply.
any growth of a paper currency would be nothing but counterfeiting.
You said that Ron Paul needs to reexamine his position on money, what is his position according to you?
I'm 100% serious. Just because the president, congress and a majority of the American people don't care what the Fed does, doesn't mean it doesn't have to answer to anyone. A lack of interest doesn't mean a lack of control and congress fully controls the Fed.
I have no issue with central banking, one bank loaning another bank is fine by me - I have an issue with fractional reserve banking, banks being aloud to legally lend many times more than what they have, and creating new money out of thin air.
Really?! You need me to explain why central banking is bad? In all seriousness, why do you want to end the Fed if you support central banking? That makes no sense to me.
I don't care what anyone says, it is impossible for a govt created entity to be private. A monopoly is a special privilege that can only be granted by the govt, what the govt grants can easily be taken away. The Fed is no different than any other govt creation.
- Obviously not, as I just gave you solid evidence of a court ruling this was The federal reserve is private corporation and they didnt create themselves now did they.. Many corporations around the world start as government owned - many telecommunications, transportation and even health companies etc start as goverment owned and then get changed to privately owned.
it is impossible for a govt created entity to be private
We have inflation , we have growth of the money supply - but this is legalised so it is therefore not counterfeiting.
Any links to back this up or does you not caring what anyone says (mentioned in prev post) mean you don't need facts from anything besides your own understanding?
I have no issue with central banking, one bank loaning another bank is fine by me - I have an issue with fractional reserve banking, banks being aloud to legally lend many times more than what they have, and creating new money out of thin air.
You don't care what anyone else says? I just gave you a link to a court ruling directly contradicting what you were saying and you still think your opinion which you have yet to back with anything external is superior... "Dont care what anyone else says" - pft what are you doing here then?
Obviously not, as I just gave you solid evidence of a court ruling this was The federal reserve is private corporation and they didnt create themselves now did they.. Many corporations around the world start as government owned - many telecommunications, transportation and even health companies etc start as goverment owned and then get changed to privately owned.
Originally posted by Rockdisjoint
reply to post by byteshertz
We have inflation , we have growth of the money supply - but this is legalised so it is therefore not counterfeiting.
Just because it's legal, it doesn't make it right. Slavery use to be legal too.
I shouldn't need any links to back this up. It's obvious, without the govt the Fed could not exist. It's that simple. If you can prove to me that a central bank would occur on the free market, I will take back everything I've said.
You're okay with the govt doing it though? Central banking is the problem here.
Maybe we use different definitions of private, how do you define private?
How come I can't open up my own central bank then? If it was private I should be able to compete with it, how come I can't?edit on 12-8-2011 by Rockdisjoint because: (no reason given)
If it's so obvious you should have any trouble providing some facts or evidence to back it up. You are asking me to show you a central bank would occur without the govenment - which I never claimed was possible
if you read my previous post I said the government can create private corporations it's called privatisation.
Why would I have any issues with a legal entitiy in any form including government lending to another something that it owns? I only have an issue when they lend something they can take from people any time they like. You say the central banking system flawed but you dont explain why.
A central bank, reserve bank, or monetary authority is a public institution that usually issues the currency, regulates the money supply, and controls the interest rates in a country. Central banks often also oversee the commercial banking system of their respective countries. In contrast to a commercial bank, a central bank possesses a monopoly on printing the national currency, which usually serves as the nation's legal tender. en.wikipedia.org...
Im not even going to go down the symantics road - It doesnt matter what my definition of private is, the law see's the fedral reserve as a private corporation - no matter if you or I think this is morally right or wrong it is what it is.
Because like everything else you need government approval first. before you open a shop you need zoning approval, licesnses etc. Like with everything else if the Governement feels their is too much competition in any particular area they stop you from being able to aquire the required approval
Originally posted by zacdam
reply to post by e11888
LOL... what is your problem?? I wasn't even responding to you! I support Ron Paul and sound money. I've supported Ron Paul since 1988. Folks like you have been the biggest stumbling block for Dr. Paul... going off half cocked and full of anger... get a grip and relax! You've obviously only just gotten on board, my friend. I've been disowned by my father for supporting Ron Paul when I was 17 years old. I've heard it all... been called everything under the sun and you know what?... I always keep my head, listen to what people have to say and defeat them with their own flawed logic.
Stop yelling and ranting and try to help the cause with a calm, sound mind. you should go back and read your own post my friend... it doesn't even make sense. That's what is hurting Ron Paul.