What Do Liberals Like Most About The Federal Reserve Bank?
Liberal hero Woodrow Wilson gave us the Federal Reserve Bank, a secret and private central bank to create fiat money backed with nothing. He also gave us the IRS to collect interest payments for the FED.
Compared to the money the Founding Fathers intended, what about the FED appeals to liberals most?
By cargo pilot III Flyin’ Mayan -08-11 12:00:30
kril_420: My favorite thing about the Fed is the hilarious opinions of people who think that it’s unconstitutional or something.
Will: Well, I’m certainly NOT a liberal, but as a Political Economist with over 30 years experience I’d ask you, with what would you replace the Fed? And please do not say a “Gold Standard” as you will only reveal a monumental lack of understanding of basic economics.
High Priestess Shizuka: Not having to weigh my money at the check out stand. The ease with which I can buy things over the internet. Having my money be large enough to see with the naked eye.
In a world where maybe 10% of the money in the world is even backed by real green backs and is just a check or a computer entry WTF does the gold standard mean??
In the history of the world there have been two swimming pools of gold mined. one fifth of one of those pools is outside India. India acquired the rest in spice trades and it is stored in attics and woven into Saris. What does it mean when India suddenly owns 80% of the world’s wealth
Lastname Comma Firstname: LOL, Will is such a retard. “What would you replace it with?” When you put out a fire, or remove cancer from a body, what do you replace it with? Will doesn’t like to admit what is in our constitution, what is law and what is illegal, the fed, by its very nature is unconstitutional
destined: Liberals like getting something for nothing such as printing paper with no meaning. Wasteful and devalue are too words that come to mind.
Gandhi: I do not consider myself to be any ‘label’, whether that be a ‘Liberal’ or a ‘Conservative’ or any other label one might choose.
I also do not profess to be any kind of expert on Financial matters, however I do have a deep distrust of the Federal Reserve and pretty much all Central Banks.
This has absolutely nothing to do with the practise of Central Banking or the complicated methods employed by them in the regulation of our economies and the money supply.
Allow me to digress;
Nowadays, marriage is not very popular. Nonetheless, since the beginning of the last century a new phenomenon occurred in our western civilisation, namely an ‘indissoluble marriage’ between governments and Mammon. We will be celebrating the one hundredth anniversary of this ‘unholy union’ in two years time, in 2013.
Celebration or mourning day, ninety-one years of marriage is a lifetime indeed. A happy event is the twenty-five year silver anniversary; even happier the fifty years golden anniversary; happier still seventy-five diamond. Ninety eight years then is a diamond plus twenty three years on top, giving to the partners vintage and prestige – a real super-duper jewel.
Nobody can argue that this hasn’t been a smashing success for the establishment of course, in a society where divorce is so prevalent. Even ‘de facto’ couples rarely reach an average of fifteen or twenty years together.
Here we have, concealed from the public eye, governments and the central banking industry, which stipulated this unholy union, with the sole aim of empowering themselves, in particular through the creation of fiat money out of thin air.
Here is how fiat money is created:
“Under a fractional-reserve banking system, a bank can create new money merely by issuing a loan. The amount it creates is limited by the reserve ratio or “fraction” it is required to maintain to cover its cash-flow needs. If the reserve ratio is 10% then each $10 it lends includes $9 that never existed before. A commercial bank, therefore, can create a sizable amount of money merely by making loans. But, once the bank is “loaned up,” that is to say, once it has already loaned $9 for every $1 it holds in reserve, it must stop and wait for some of the old loans to be paid back before it can issue new ones. The only way to expand that process is to make the reserve larger. That can be accomplished in one of four ways:
(1) attract more deposits.
(2) use some of the bank’s profits.
(3) sell additional stock to investors, or…
(4) borrow from the Fed.
See G. Edward Griffin, The Creature from Jekyll Island, for further details:
International money managers may be citizens of a particular country but, to many of them, that is a meaningless accident of birth. They consider themselves to be citizens of the world first. They speak of affection for all mankind, but their highest loyalty is to themselves and their profession.
If the product of this “marriage” between government and the mammonites is more centralisation of power in fewer hands, is it not time to wake up and put a stop to it?
Two last thoughts:
A banker is someone who lends you an umbrella when the sun is shining, and who asks for it back when it starts to rain.
A Dutchman was explaining the red, white and blue Netherlands flag to an American. “Our flag is symbolic of our taxes. We get red when we talk about them, white when we get our tax bills, and blue after we pay them.” The American nodded. “It’s the same in the USA only we see stars too!”
Peace be upon you.