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The fail is that Mr. Mugabe did exactly as you proposed. He printed and printed and printed, and didn't issue any scary "Fed debt".
The US isn't on par with Zimbabwe, precisely because we didn't do as you suggested, dumbass.
Thomas Jefferson
If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them (around the banks), will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered.
- I believe that banking ins utions are more dangerous to our liberties than standing armies. Already they have raised up a moneyed aristocracy that has set the Government at defiance. The issuing power should be taken from the banks and restored to the people to whom it properly belongs.
The fail is that Mr. Mugabe did exactly as you proposed. He printed and printed and printed, and didn't issue any scary "Fed debt".
The US isn't on par with Zimbabwe, precisely because we didn't do as you suggested, dumbass.
So then, issuing greenbacks didn't prevent the boom/bust cycle or significantly reduce the power of the money interest.
So the only difference in the US dollar and zimbabwe currency is the mechanism by which it issues? History, wealth, power, influence dont have any affect on currency then?The fail is that Mr. Mugabe did exactly as you proposed. He printed and printed and printed, and didn't issue any scary "Fed debt".
The US isn't on par with Zimbabwe, precisely because we didn't do as you suggested, dumbass.
OMG. OMG. MAke it stop. hay-soos.
sweet jesus.
Edison
If the Nation can issue a dollar bond it can issue a dollar bill. The element that makes the bond good makes the bill good also. The difference between the bond and the bill is that the bond lets the money broker collect twice the amount of the bond and an additional 20%. Whereas the currency, the honest sort provided by the Cons ution pays nobody but those who contribute in some useful way. It is absurd to say our Country can issue bonds and cannot issue currency. Both are promises to pay, but one fattens the usurer and the other helps the People.
Isn't that what happened in Germany?And you call us naive.
This is only was in essence, only worth the paper it was printed on within 5 years after it's printing:
stills looks cool in the frame on my wall though.
dont take my word for it. But anytime the power to create currency is in the power of the people, it is going to be under siege. It is much too valuable to not be. The interest earned from loaning the govt many is exponential.
By analogy, would you hand over the nation because it will always be subject to attack?
And so the debate ends for now. I still like this one the most
Edison
If the Nation can issue a dollar bond it can issue a dollar bill. The element that makes the bond good makes the bill good also. The difference between the bond and the bill is that the bond lets the money broker collect twice the amount of the bond and an additional 20%. Whereas the currency, the honest sort provided by the Cons ution pays nobody but those who contribute in some useful way. It is absurd to say our Country can issue bonds and cannot issue currency. Both are promises to pay, but one fattens the usurer and the other helps the People.
Can you quantify it? How much does our currency cost us in principal and interest?
We arent talking costs. We are talking bank earnings, reulting from the debt money system. Banks who loan to the govt can continue to loan based on the fractional reserve lending scheme, and in the "Fed is selling us out" thread I cited 1000%+ interest, not paid by the govt, but by the govt interest paid (bond rate)+all the other loans that they then can legally make. That is the basis for me saying that the currency is much too valuable to leave in the hands of the people.
So bond rate on the initially loan, then they print/digitize money, and under the fractional reserve lending system they must keep only a certain percentage on hand, the rest of which they can lend to whoever at whatever interest rate they choose (based on risk), then again they can loan any loan proceeds which come in as deposits, etc...that is why the process results in exponential interest for big banks.
This is why only big banks benefit, because this loop only includes the banks which loan to the fed govt
It is the grandest money making operation that I have ever begun to understand.
Too bad you can't even begin to explain it. That was clear as mud.
Not really. That is exactly what happens.
By loaning to the govt, big banks get to 1. print currency (in the amt loaned to the govt)[interest at bond rate], which they can then 2. make loans[more interest earned], and when loaned money is deposited by debtors they get to 3. loan part of that money again[more interest earned].
Interest stacking up at every level.
And keep in mind that this money is pulled out of thin air. So they make astronomical profits...from their own asses.
Last edited by Parker2112; 10-20-2010 at 03:47 PM.
complete pyramid scheme.
Also, see above in red.Henry Ford
It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.
Federal Reserve banks, you mean. How many of those are there? And please, show us the astronomical profits.
the important part (fractional reserve system): they only have to keep a fraction of loaned money on reserve, so the more they keep on deposit the more they make.
http://www.washingtonpost.com/wp-dyn...011103892.html
also consider that the reserve is sending that printed money to bailout banks and wall st., and you see the whole picture: the Fed ensuring that the richest banks get the benefit of bailout money (influencing policy from top) over the citizens
(who will pay for those transactions through inflation/indirect taxation).
I understand what fractional reserve banking is. So does RG.
BTW, Fed profits are returned to the US treasury. b
If you truly understand it, then why are you in disbelief over the profit potential?
And yet Congress cant see the books.
I'm not in disbelief. It's you I'm skeptical of.
you are waiting for me to stumble. Its all good.
If you care to impart some knowledge on the topic, I would be delighted. I am still waiting on Fuzzy to come back, because so far that is the only poster to have any credible input.
I don't like it either, but that was a feature of the design. The Fed was designed to be resistant to political pressures.
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