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Thread: If we Abolished the Federal Reserve, would the economy right itself overnight?

  1. #21
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    Quote Originally Posted by Fast Eddy View Post
    we need a FED, but not a private one. remove the private FED and start a true government run one. Oh yes, all those bad loans they put US tax payer on the hook for, no way.
    Uh,,, wasn't that supposed to be the treasury dept.? I mean why pay interest on fiat when the treasury could do it for next to nothing, same as the FRB?




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    No. It would help, and all the QE accumulated debt that isn't debt at all would go away, but that's still not enough.

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    Quote Originally Posted by Pepper Belly View Post
    That would be hilarious were it not so bloody stupid. The FED was supposed to eliminate the ups and downs of the market, but all they are is a gargantuan money laundering scheme.
    I am sorry that this goes against the narrative you have been hearing, but let me give you a little hint...THIS IS EXACTLY WHAT HAPPENED. We haven't had a Depression since the Great Depression, our booms haven't been as booming and our downturns are Recessions instead of Panics/Depressions. Before the Fed, we had a Panic/Depression every 10-15 years. This is not an exaggeration. A MAJOR Panic/Depression every decade or so. Yet since the Great Depression we haven't had one in almost 80 years...

    Literally, the EXACT thing you said they are supposed to do, is EXACTLY what has happened.

    You can't just abolish it, but it should be phased out.
    Please please please do me a favor and read up on the US economy before the Fed. It isn't nearly as clear cut as you make it seem.

    Public education and American media are atrocious.
    While I agree, I am not sure what this has to do with the Fed? Are you accusing the Fed of making those things atrocious?

    Or are you just accusing me of being uneducated or blinded by the media.

    Either way I assure you neither is happening.
    Last edited by Realist489; 06-17-2015 at 06:05 PM.

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    Quote Originally Posted by DeadEye View Post
    Uh,,, wasn't that supposed to be the treasury dept.? I mean why pay interest on fiat when the treasury could do it for next to nothing, same as the FRB?
    The Treasury Department prints money and manages Government revenue. It is not a bank and has zero lending power.

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    Quote Originally Posted by Realist489 View Post
    The Treasury Department prints money and manages Government revenue. It is not a bank and has zero lending power.
    I never said it was a bank. Why pay interest on fiat?




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    Quote Originally Posted by DeadEye View Post
    I never said it was a bank. Why pay interest on fiat?
    Who are you posing the question to?

    To the people? Because they have to in order to get lent money. To the banks? Because they have to in order to lend money.

    Unfortunately, it seems I have joined a site where rhetoric has become all too common.

    Fiat Currencies have been around for centuries. There is nothing inherently evil or bad about them. When you understand that, a lot of other pieces will fall into place.

    A slight tangent...do you know why we switched to Fiat Currencies?

    Because there aren't enough raw materials (especially gold) to support a planet of 7 billion people. There is a set amount of raw materials on Earth. You need to be able to spread the wealth, otherwise it leads to complete income inequality or no one having enough to do anything.

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    Quote Originally Posted by Realist489 View Post
    Who are you posing the question to?

    To the people? Because they have to in order to get lent money. To the banks? Because they have to in order to lend money.

    Unfortunately, it seems I have joined a site where rhetoric has become all too common.

    Fiat Currencies have been around for centuries. There is nothing inherently evil or bad about them. When you understand that, a lot of other pieces will fall into place.

    A slight tangent...do you know why we switched to Fiat Currencies?

    Because there aren't enough raw materials (especially gold) to support a planet of 7 billion people. There is a set amount of raw materials on Earth. You need to be able to spread the wealth, otherwise it leads to complete income inequality or no one having enough to do anything.
    I thought I quoted you but maybe you missed that. Anyway, it sounds like your mind is made up in favor of the FRB. Good for you but don't waste your time on me. My mind is made up too and it is against the FRB.




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    Quote Originally Posted by Realist489 View Post
    I am sorry that this goes against the narrative you have been hearing, but let me give you a little hint...THIS IS EXACTLY WHAT HAPPENED. We haven't had a Depression since the Great Depression, our booms haven't been as booming and our downturns are Recessions instead of Panics/Depressions. Before the Fed, we had a Panic/Depression every 10-15 years. This is not an exaggeration. A MAJOR Panic/Depression every decade or so. Yet since the Great Depression we haven't had one in almost 80 years...

    Literally, the EXACT thing you said they are supposed to do, is EXACTLY what has happened.



    Please please please do me a favor and read up on the US economy before the Fed. It isn't nearly as clear cut as you make it seem.



    While I agree, I am not sure what this has to do with the Fed? Are you accusing the Fed of making those things atrocious?

    Or are you just accusing me of being uneducated or blinded by the media.

    Either way I assure you neither is happening.
    A panic/depression every 10-15 years in what alternate universe??? Links and years/dates for those so-called panic/depressions, please.
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    Quote Originally Posted by Realist489 View Post
    I am sorry that this goes against the narrative you have been hearing, but let me give you a little hint...THIS IS EXACTLY WHAT HAPPENED. We haven't had a Depression since the Great Depression, our booms haven't been as booming and our downturns are Recessions instead of Panics/Depressions. Before the Fed, we had a Panic/Depression every 10-15 years. This is not an exaggeration. A MAJOR Panic/Depression every decade or so. Yet since the Great Depression we haven't had one in almost 80 years...

    Literally, the EXACT thing you said they are supposed to do, is EXACTLY what has happened.



    Please please please do me a favor and read up on the US economy before the Fed. It isn't nearly as clear cut as you make it seem.



    While I agree, I am not sure what this has to do with the Fed? Are you accusing the Fed of making those things atrocious?

    Or are you just accusing me of being uneducated or blinded by the media.

    Either way I assure you neither is happening.
    The federal reserve has created every depression/recession this country has ever seen. They're a lending institution that creates debt, national debt, by controlling monetary policies. Sure, traitors like Obama, and a few others, see the need for these policies, but none of these policies has ever aided the economy.

    Let me go further, no federal reserve, and the US debt would be negligent! Right now the fed, fed friendly countries, IMF, ECB, and others are directly responsible for the bond market and economic crash.....100% buddy!!

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    Quote Originally Posted by Realist489 View Post
    Before the Fed, we had a Panic/Depression every 10-15 years.
    oooooh, that sounds scary. They were short lived and the economy bounced back vibrantly, unlike the shit we have today.

    We have put much more money into the system than we have gotten back in the form of GDP growth, by multiples.
    The economy is no different that in a depression. The rest is just numbers on paper. The pain of the citizens is no better than a depression.
    Nobody gives a fuck that you can paper over a "depression" on the books. The peoples lives are wrecked and not getting better anytime soon.
    Meanwhile Jamie Dimon has become a billionaire.

    You can keep your banker shilling to yourself thank you very much.
    If an asset that the government can get for nothing — capital — is essential to producing assets that command prices — consumption goods — then you would be wise to search for a sleight-of-hand operation.

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