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We have been Cyprus since 1913, 6% every year to the Fed out of the economy
My fevered brain | 03/20/2013 | RW

Posted on 03/20/2013 12:24:08 PM PDT by reluctantwarrior

Why the sudden anxiety over a one time 10 percent haircut out of Cypriot bank accounts?


TOPICS: Business/Economy; Chit/Chat; History; Society
KEYWORDS: cyprus; fed; fractionalreserve; jekyllisland
The US economy pays the Federal Reserve six percent on the money supply every year since 1913. Why isn't there a sheeple uprising over this bit of piracy and theft?
1 posted on 03/20/2013 12:24:08 PM PDT by reluctantwarrior
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To: reluctantwarrior
So we've paid the Fed 339 times the 1913 money supply (1.06100)to the Fed? Do you have any references to back up that 6% number?
2 posted on 03/20/2013 12:29:43 PM PDT by KarlInOhio (Choose one: the yellow and black flag of the Tea Party or the white flag of the Republican Party.)
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To: reluctantwarrior

Because the average person is hardly aware that the Federal Reserve even exists let alone anything about how it operates. Just ask someone while waiting in the check-out line in a store and see what answer you get.


3 posted on 03/20/2013 12:30:30 PM PDT by Army Air Corps (Four Fried Chickens and a Coke)
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To: KarlInOhio

The charter and organization of each Federal Reserve Bank is established by law and cannot be altered by the member banks. Member banks, do however, elect six of the nine members of the Federal Reserve Banks’ boards of directors.[32][76] From the profits of the Regional Bank of which it is a member, a member bank receives a dividend equal to 6% of their purchased stock.[18] The remainder of the regional Federal Reserve Banks’ profits is given over to the United States Treasury Department. In 2009, the Federal Reserve Banks distributed $1.4 billion in dividends to member banks and returned $47 billion to the U.S. Treasury

Federal reserve citation on wikipedia


4 posted on 03/20/2013 12:38:43 PM PDT by reluctantwarrior (Strength and Honor, just call me Buzz.kill for short......)
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To: reluctantwarrior

that is without a doubt the stupidest analogy I have ever seen.


5 posted on 03/20/2013 12:41:11 PM PDT by babble-on
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To: reluctantwarrior

When my father could buy a new Buick for $2000 in the ‘50s and our new brick custom home cost $25,000, I have seen in my lifetime the drastic devaluation of the dollar. One can only guess how many tens of thousands of shrinking dollars my grandchildren will have to spend to buy their cars and homes.


6 posted on 03/20/2013 12:42:26 PM PDT by txrefugee
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To: babble-on

thanks for the insult since Im so stupid please explain why its the stupidest analogy ever

Fed banks get paid by banks six percent on the FRNs they laon to member banks the FRNs are created for nothing so the fed pulls six percent out of the economy for the use of FRNs


7 posted on 03/20/2013 12:44:59 PM PDT by reluctantwarrior (Strength and Honor, just call me Buzz.kill for short......)
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To: txrefugee

the 1973 Nixon decision to exit the partial gold backed currency and allow infinite money expansion led to a flat or small loss of wage/purchasing power of most wage earners since 1974

It will be Zim dollar inflation when the Chinese move most trade to the Yuan.


8 posted on 03/20/2013 12:47:38 PM PDT by reluctantwarrior (Strength and Honor, just call me Buzz.kill for short......)
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To: reluctantwarrior

Because in Cyprus there is a 10% loss overnight to depositors as compared to in America where depositors have not lost money in a bank insolvency.

And because you imply that 6% of GDP goes to the banks, rather than a 6% return on a tiny, token volume of capital stock that would barely show up on a community bank’s balance sheet if indeed it exists at all.


9 posted on 03/20/2013 12:51:36 PM PDT by babble-on
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To: babble-on

The six percent is paid on every dollar loaned from a federal reserve bank to a member bank since each FRN is considered a share otherwise how does 46 billion get paid back into the Treasury in 2010 and 1.6 billion posted as retained earnings but the balance sheet shows an additional capital stock growth from 900 billion to 972 billion. Where did the 72 billion come from in 2010. Pull the balance sheet from the Feds website and run the numbers it is time better spent then insulting me, but hey I guess since you are an expert facts are only an impediment to your considered opinion


10 posted on 03/20/2013 12:58:23 PM PDT by reluctantwarrior (Strength and Honor, just call me Buzz.kill for short......)
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To: reluctantwarrior

the Fed owns more than two trillion in bonds. That’s where the bulk of that income derives from. Oh and by the way that money you cite is federal government REVENUE and thus helps offset the deficit. It’s a yield paid on bonds by the taxpayers, TO the taxpayers. A zero sum for the sake of deficit calculations.

When the Fed participates in bank lending it is through the Federal Funds market, which currently is an interest rate between 0 and 0.25%.

To imply that they pull a 6% yield on the entire money supply is just hogwash. You’re like that guy who says “I have no idea, therefore ALIENS” only it’s “I have no idea, therefore banking conspiracy”


11 posted on 03/20/2013 1:43:17 PM PDT by babble-on
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To: babble-on

80 percent of treasuries are now purchased by the fed 85 billion a month so how does the fed pay interest on a bond it buys with FRNs it creates digitally

when you monetize your debt your are insolvent

the expansion of the balance sheet isn’t a good thing, fractional reserve banking is our undoing but hell you’re an expert and I’m just a simple guy who must balance his budget every month but hey deficits don’t matter and debt is simply us paying ourselves. You sir are part of the problem, keep whistling past the graveyard but I am opting out of the Federal Reserve Ponzi scheme

TTFN


12 posted on 03/20/2013 1:52:16 PM PDT by reluctantwarrior (Strength and Honor, just call me Buzz.kill for short......)
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To: babble-on

You’re like that guy who says “I have no idea, therefore ALIENS” only it’s “I have no idea, therefore banking conspiracy”


Ah! so you do not believe the federal reserve is a banking conspiracy?..
Since it obviously is.. you’re outted..

Obviously since there is nothing federal about the federal reserve..
They are private for profit Banks with stock shareholders and everything.. A BUSINESS..
A global international business... with one purpose, making a profit..

They could care less about the American Constitution, and don’t..
The word game “federal reserve” is a scam.. a BOONdoggle.. for theft on a massive scale..
Both partys support it.. an “Animal FArm” milking the american people like farm animals.. and butching their children..

The Federal Reserve is a parasite.. a virtual Vampire..
at the root of all the Nixons, Clintoons, Obama’s, and Kennedy’s.. and Yes.. Bush’s.. Farming the American people like sheep.. It all starts at the federal reserve but threads go through every fabric of american politics..

The federal reserve is not federal it’s GLOBAL...
Silly me.. I’m talking to SHEEP!... LoL...


13 posted on 03/20/2013 2:09:34 PM PDT by hosepipe (This propaganda has been edited to include some fully orbed hyperbole..)
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To: hosepipe
"Obviously since there is nothing federal about the federal reserve.."

Nothing except of course that...


14 posted on 03/20/2013 2:26:10 PM PDT by DannyTN
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To: KarlInOhio
It's. 3.21% a year according to the following site.

CPI calculator

Not sure I trust the goverment's measure so to double check that...historical food prices

Cost of bread in 1914. $0.063. Cost today $2.00 Bread Inflation 0.035%

Cost of Sirloin Steak in 1914. $0.259/lb Cost of sirloin steak today. $5.99/lb (Kroger current ad) Steak Inflation 0.032%%

15 posted on 03/20/2013 2:36:26 PM PDT by DannyTN
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To: DannyTN
Nothing except of course that... all of the profit that the Federal Reserve is given over to the Federal Treasury. ($88.9 billion in 2012) the President appoints all the members of the Federal Reserve board of Governors. the President nominate the chairman of the Federal Reserve. the Board of Governors appointed by the President names 1/3 of the directors at each Federal Reserve Bank. the member banks are limited to a flat 6% in the return they get on their capital in the Federal Reserve banks. the member banks regardless of their size or capital get one and only one vote for the remaining 2/3 of the federal reserve directors. the Federal government dictates that 1/3 of the banks directors must come from the banks customers representing the industry in the region.
---------------------------------------------------------

Thats the way it is supposed to work.. you really don't think it actually works that way do you?...
That the fed.res stockholders have no say in these matters?...
That the fed is not MORE Corrupt than General Motors? or General Electric?.. or Chase?..

Much more corrupt.... if thats even possible..
The federal reserve is a Vampire.. that grows intestinal worms in the body poltik also parasites.. and elects or has them elected to figurehead positions.. I see you seem to be a sheep..

16 posted on 03/20/2013 3:47:09 PM PDT by hosepipe (This propaganda has been edited to include some fully orbed hyperbole..)
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To: DannyTN

Cost of bread in 1914. $0.063. Cost today $2.00 Bread Inflation 0.035%


Try that with the cost of a car or house or silver or gold..
or an education.. amazing inflation..


17 posted on 03/20/2013 3:51:22 PM PDT by hosepipe (This propaganda has been edited to include some fully orbed hyperbole..)
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To: reluctantwarrior
80 percent of treasuries are now purchased by the fed 85 billion a month so how does the fed pay interest on a bond it buys with FRNs it creates digitally

That's why it returns the interest to the Treasury.

the expansion of the balance sheet isn’t a good thing, fractional reserve banking is our undoing

I agree with you 100%. We do not need a central bank; it was created solely to enable the government to fund itself without resorting to tax increases.

I do disagree with your interpretation of the Wikipedia article. The Fed does not take a profit of 6% on the entire money supply. At the current supply of money [M1], 6% would be $164.5 billion.

18 posted on 03/20/2013 3:58:57 PM PDT by BfloGuy (The final outcome of the credit expansion is general impoverishment. -Ludwig von Mises)
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To: hosepipe

A house or car are hard to compare because the standards in housing and cars are so dramatically different. The average house in 1913 cost $6000. But at 3.5% inflation that’s worth $187,000 now. Which would you rather have, a $187,000 house built today, or the kind and size of the average house selling for $6,000 in 1913, with no running water, no electric plugs, no a/c, no lights, no appliances, and not built to any safety codes? Seriously?

Gold’s in a bubble right now. But even so, since 1913, the inflation rate in gold has been a whopping 4.5%. 1913 to 2003 was 3.4%.


19 posted on 03/20/2013 8:16:15 PM PDT by DannyTN
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To: BfloGuy

I will go re reread the monster from Jekyll Island to check on this, but I do believe it does pull 6 percent on the M1


20 posted on 03/21/2013 6:58:22 AM PDT by reluctantwarrior (Strength and Honor, just call me Buzz.kill for short......)
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To: reluctantwarrior

Bought a house, Jan ‘67, $21,300, now appraised at $450,000(lost $75,000 last few yrs.) Inflation is REAL


21 posted on 03/21/2013 9:25:58 AM PDT by capt B
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To: hosepipe

I understand the system. And I understand the alternatives.

The Fed to banking is a bit like democracy. It’s the worst system except for all the others.

The FED in my opinion had done a wonderful job through the years. It’s doing exactly what it should be doing now.

It’s not the FED’s fault that congress has overspent. Switch to a gold standard and a corrupt Congress will still borrow and promise your children will repay in gold.

The FED can’t fix bad economic policy coming out of congress or the executive. The FED didn’t cause our jobs to be outsourced overseas, lowering the tarrifs from their historic norms to just 1% did.


22 posted on 03/21/2013 10:32:32 AM PDT by DannyTN
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To: DannyTN

Gold’s in a bubble right now. But even so, since 1913, the inflation rate in gold has been a whopping 4.5%.


As they print more fiat money GOLD(and other things) rises(inflates)... can’t print more Gold an many other things... Duuugh..

The World’s pending financial collapse is very very ON PURPOSE.. (guided)..
Just like the one in the 1920’s in america....

Chaosville is on it’s way... many bubbles are ABOUT to BURST...
So that givernment GANGS can ride in to pick up the pieces..
Much like what Stalin, Hitler and Mao did... and many other tin pot dictators..

Interesting to WATCH Obama and the minions that control him parlaying this shell game.. Seems that the minions than control OBAMA ALSO controlled the Bill Clintoons and dare I say THE BUSH’S as well...


23 posted on 03/21/2013 10:37:10 AM PDT by hosepipe (This propaganda has been edited to include some fully orbed hyperbole..)
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To: reluctantwarrior
"I will go re reread the monster from Jekyll Island to check on this, but I do believe it does pull 6 percent on the M1"

That's like getting all your facts from the English version of what Arafat said. Seriously, read conspiracy crap if you want, but check their facts. If you fail to do that, you're just as uninformed as those people that ACORN are registering, who are voting for personality or skin color or anything but informed reason.

24 posted on 03/21/2013 10:37:50 AM PDT by DannyTN
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To: hosepipe
"As they print more fiat money GOLD(and other things) rises(inflates)... can’t print more Gold an many other things... Duuugh..'

Did it ever occur to you that they need to print more money as the population increases or as the supply of good increases?

If they don't we get deflation. And deflation is strongly linked to economic depressions. And we used to have economic depressions every 20 years before we came off the gold standard.

25 posted on 03/21/2013 10:40:11 AM PDT by DannyTN
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To: DannyTN

The Fed to banking is a bit like democracy. It’s the worst system except for all the others.


WRONG again... democracy is a lie....
No democracy has ever been democratic... NONE..
and WHy? the American Constitution has no word resembling democracy in it ANYWHERE.. ON PURPOSE..

Democracy is shell game.. a bait and switch.. a boondoggle..
Only juvenile mentality’s are fooled by it... like yours..
Socialism is a symptom of the political disease of democracy...


Democracy is the road to socialism. -Karl Marx

Democracy is indispensable to socialism. The goal of socialism is communism. -V.I. Lenin

The meaning of peace is the absence of opposition to socialism .-Karl Marx

NOTE: Democracy was, is and always will be MOB Rule.. exactly like Monarchy, Fascism, Communism and several other “isms”.. Central banking is a Financial Political Coup D’ Etat.. Democracy is rule BY MAFIA... Sheep Farmers.. milking, shearing and butchering the sheep and lambs.


26 posted on 03/21/2013 10:51:09 AM PDT by hosepipe (This propaganda has been edited to include some fully orbed hyperbole..)
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To: DannyTN

Why do you call it conspiracy crap? What do you consider a reference for the creation and history of the Fed?

Since you didn’t post a citation refuting any earlier posts why should I even listen to your opinion?

If you are so informed why no citation or excerpt refuting anything I have posted?

So take your own admonition and offer facts thanks for playing....


27 posted on 03/21/2013 10:54:27 AM PDT by reluctantwarrior (Strength and Honor, just call me Buzz.kill for short......)
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To: DannyTN

Did it ever occur to you that they need to print more money as the population increases or as the supply of good increases?


DEFLATION is the normal logical honest adjustment to a bizaar financial situation..
ITS NORMAL... taking “pills” to make it go away can and will make you “SICKER” than you were BEFORE...

Printing fiat money can and does make money worth-less..
Until the money actually becomes “WORTHLESS”
Its happened many times before AND IS HAPPENING NOW AS WE SPEAK..

Clues: “There are no FREE lunches”... and “There is a sucker born every minute”... Do you have Down’s Syndrome?..


28 posted on 03/21/2013 11:05:36 AM PDT by hosepipe (This propaganda has been edited to include some fully orbed hyperbole..)
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To: hosepipe

Are you on medication?


29 posted on 03/21/2013 11:12:04 AM PDT by DannyTN
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To: DannyTN

Are you on medication?


Yes.... what flavor of Kool-Aid do you drink?...


30 posted on 03/21/2013 11:15:08 AM PDT by hosepipe (This propaganda has been edited to include some fully orbed hyperbole..)
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To: reluctantwarrior
Fine. Here is the actual U.S. Law on the Federal Reserve

Read the law and perhaps you will understand why I call what you're reading conspiracy crap.

31 posted on 03/21/2013 11:16:04 AM PDT by DannyTN
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To: reluctantwarrior
Fine. Here is the actual U.S. Law on the Federal Reserve

12 USC Chapter 3 - Federal Reserve System

Read the law and perhaps you will understand why I call what you're reading conspiracy crap.

32 posted on 03/21/2013 11:16:42 AM PDT by DannyTN
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To: DannyTN

Read the law and perhaps you will understand why I call what you’re reading conspiracy crap.


What wrong with conspiracy’s?... There are so many it hard to count them all..

A good one is the VENONA FILES.. man that is a good one...

Then there is Vince Foster!... Sandy Berger(burgular)!.. JFK assination!.. Whittaker Chambers! and HIss!... Ted Kennedy murder!... and all the other people murdered on the Clintoon death list.. and of course Bengazi and “Fast and Furious”...

The whole FDR presidency was and is conspiracy.. and no doubt HArry Trumans as well.. don’t get me started on Wilson!... <<- NO not the soccer ball the President..

Talking about Washington D.C. it is hard to find a time were there was NOT multiple conspiracy’s going on.. not to speak of most States.. and even local givernments..

The entire democrat party was and is a conspiracy against this republic.. NOT just local intrigues but OUTRIGHT conspiracy’s..

WHat do you put “IN” your Kool-Aid?...


33 posted on 03/21/2013 11:33:52 AM PDT by hosepipe (This propaganda has been edited to include some fully orbed hyperbole..)
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To: hosepipe
"WHat do you put “IN” your Kool-Aid?..."

real sugar

34 posted on 03/21/2013 12:17:50 PM PDT by DannyTN
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To: DannyTN

Did you read the law before you sent it to me? Maybe you should
12 USC § 282 - Subscription to capital stock by national banking association

Every national banking association within each Federal reserve district shall be required to subscribe to the capital stock of the Federal reserve bank for that district in a sum equal to six per centum of the paid-up capital stock and surplus of such bank, one-sixth of the subscription to be payable on call of the Board of Governors of the Federal Reserve System, one-sixth within three months and one-sixth within six months thereafter, and the remainder of the subscription, or any part thereof, shall be subject to call when deemed necessary by the Board, said payments to be in gold or gold certificates


35 posted on 03/21/2013 12:26:14 PM PDT by reluctantwarrior (Strength and Honor, just call me Buzz.kill for short......)
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To: DannyTN

Did you read the law next time read it before you call any one out on whats init.

12 USC § 289 - Dividends and surplus funds of reserve banks
(a) Dividends and surplus funds of reserve banks
(1) Stockholder dividends
(A) In general
After all necessary expenses of a Federal reserve bank have been paid or provided for, the stockholders of the bank shall be entitled to receive an annual dividend of 6 percent on paid-in capital stock.

(B) Dividend cumulative
The entitlement to dividends under subparagraph (A) shall be cumulative.


36 posted on 03/21/2013 12:28:47 PM PDT by reluctantwarrior (Strength and Honor, just call me Buzz.kill for short......)
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To: hosepipe
A good conspiracy needs an element of truth, that's not easily debunked.

For example the Clinton legacy of mysterious deaths, at least sports a long list of deaths associated with the Clintons who died under suspicious circumstances with potentially valid motives.

This Fed stuff doesn't qualify. Too many facts are availble for checking and debunking.

Just like the claim that was made that "there's nothing Federal about the Federal Reserve", and I was instantly able to name many things about it's control structure and profit structure that are entirely Federal in nature.

Most of these Fed conspiracy theories make wild claims about who really owns and controls the FED. But the stockholders of the Federal Reserve banks are listed. And the control structure is unlike any other business. Each bank no matter how small in a Federal Reserve district gets one vote, no matter how much capital they have. No matter how much stock they bought. You'd have control a thousand banks in each district to have any influence.

And you can see the major stockholders of the various banks. It's in their public filings. And it's not the Rothchilds, and it's not Europeans.

It's just easily debunkable crap.

Then you start looking at the job the Fed did. And you compare it to what happened under the Gold standard when we had deflationary depressions every 20 years and the value of the dollar swung wildly, sometimes as much as 25% in some years. And you start appreciating the year to year stability to the dollar that the FED brings.

Then you look at the progress America has made over time under the Fed. And it's good.

37 posted on 03/21/2013 1:18:06 PM PDT by DannyTN
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To: reluctantwarrior
Okay, now you need to understand what that says.

Contrary to your claim that the Federal Reserve collects 6% on the total M1 money supply, that's 6% paid out on the capital stock that the member banks put into the Federal Reserve banks.

The paid in capital from member banks for all of the Federal Reserve banks totals $27 billion ($27,217,000,000). The paid in capital is the capital that banks put up to form the Federal Reserve banks. And the Federal Reserve banks pays a profit of 6% on that or $1.6 billion in annual interest.

So understand that, the total of all member banks of all Federal Reserve banks got $1.6 billion in interest on their paid in capital. And the Federal treasury got the rest of the profit which was $88.9 billion in interest.

You can see this ratio as well under the section titled "Distribution of Income" in the above link. Compare how much the banks got to the Treasury. Banks didn't get squat.

38 posted on 03/21/2013 1:33:10 PM PDT by DannyTN
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To: reluctantwarrior
Okay, now you need to understand what that says.

Contrary to your claim that the Federal Reserve collects 6% on the total M1 money supply, that's 6% paid out on the capital stock that the member banks put into the Federal Reserve banks.

The paid in capital from member banks for all of the Federal Reserve banks totals $27 billion ($27,217,000,000). The paid in capital is the capital that banks put up to form the Federal Reserve banks. And the Federal Reserve banks pays a profit of 6% on that or $1.6 billion in annual interest.
Combined Report Federal Reserve

So understand that, the total of all member banks of all Federal Reserve banks got $1.6 billion in interest on their paid in capital. And the Federal treasury got the rest of the profit which was $88.9 billion in interest. Federal Reserve Profit

You can see this ratio as well under the section titled "Distribution of Income" in the above link. Compare how much the banks got to the Treasury. Banks didn't get squat.

39 posted on 03/21/2013 1:51:47 PM PDT by DannyTN
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To: DannyTN
Then you look at the progress America has made over time under the Fed. And it's good.
----------------------------------------------------------

The only progress in America for last hundred years has been by the public and private sector offerings..
IN SPITE of the Federal givernment.. and most State givernments..


40 posted on 03/21/2013 2:41:00 PM PDT by hosepipe (This propaganda has been edited to include some fully orbed hyperbole..)
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To: DannyTN

Forget Cyprus, Nobody Is Stealing from Depositors More than Bernanke
By Bernice Napach | Daily Ticker –

“At this stage of a recovery normalized interest rates should be around 2-3%,” says Rickards. “Apply that 2-3%…to the entire multi-trillion-dollar deposit base of the United States of America and that’s a $400-billion per year wealth transfer from savers to bankers so they can pay themselves bigger bonuses or make crazy bets.” Over time, Rickards says, that wealth transfer could reach $1 trillion.

Rickards says zero interest rates are just one way the Fed is fleecing depositors. Others include increasing inflation, which Bernanke is trying to do, and taxing deposits like Cyprus is pushing for. “Bernanke is stealing more money from depositors than Cyprus is... looting everyday Americans—teachers, firemen and retirees,” says Rickards.


41 posted on 03/21/2013 3:39:35 PM PDT by reluctantwarrior (Strength and Honor, just call me Buzz.kill for short......)
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To: reluctantwarrior
I will go re reread the monster from Jekyll Island to check on this

Doesn't answer the question but "The Creature from Jekyll Island" was the first economics book I ever read. Learned a lot from it and was inspired to continue studying. Including the link for others who want to learn more about Bernanke's creature.

Just dug it out of the bookshelf and will try to find what you're talking about. I just think the numbers don't add up.

42 posted on 03/21/2013 4:27:08 PM PDT by BfloGuy (The final outcome of the credit expansion is general impoverishment. -Ludwig von Mises)
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To: reluctantwarrior
I will go re reread the monster from Jekyll Island to check on this, but I do believe it does pull 6 percent on the M1

And, if so, you shall be vindicated! And rightly, so.

43 posted on 03/21/2013 4:41:11 PM PDT by BfloGuy (The final outcome of the credit expansion is general impoverishment. -Ludwig von Mises)
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To: reluctantwarrior

oh great, you quoted a gold bug. We’d have depressions every 20 years if we took Rickard’s prescription of a gold standard.

The thing that is stealing wealth from Americans is the almost non-existent import tariffs. They are allowing third world countries to steal our industries, and then sell the products back to us.

And the communist government of China taxes it’s firms at a 90% tax rate. But they don’t have any problem competing against us putting the lie to the claim that high taxes are the problem. The problem is the wage differential. And China’s high tax rate helps keep that wage low. But we don’t have to buy from China if we had the will not too. We could raise the tariffs and put our own people back to work. Neither party will talk about this though.


44 posted on 03/21/2013 7:03:57 PM PDT by DannyTN
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To: reluctantwarrior
Have you thought past the conspiracy theories enough to ask the question "Why is the FED keeping the rates low?"

The answer is right there in the law that I posted. The FED has a mandate to keep unemployment low and after that keep the money supply stable.

The FED isn't keeping rates low to enrich bankers. Bankers make money when the economy is doing well and demand for loans is high. The FED is keeping rates low to encourage investment and hiring, in hopes of lowering the unemployment rate.

But it is a sisilean task while we have a ridiculous trade policy. The Cato institute has done a snow job on America and convinced her that Free Trade is always good regardless of how the other players play. Regardless of whether your own people have jobs. Regardless of how high your debts go. Regardless of the wage differential and regardless of how many industries you lose.

The FED is not the problem. The FED is doing exactly what they should be doing. Congress and the Executive are the problem. And they aren't even talking about trade policy and unemployment. One side is talking taxes and the other side is talking cutting safety nets.


45 posted on 03/21/2013 8:20:58 PM PDT by DannyTN
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