Um, I was here in 1974, and we had it a lot better in '74 than now due to inflation. My dad is on the verge of losing his house. Social Security is getting ready to dry up. My dad can't afford anything but the free channels they let you have once in a while.
The economy is so productive that the government is able to drain trillions of dollars out of it every year.
They're not "draining trillions" every year, they're putting it on our debt. The money is coming from nowhere but the presses!
After Reagan became president the price of gold collapsed then barely moved for a couple of decades. It was a horrible investment.
Gold should not be an investment! Gold should be a stabilizer! It's purpose should be to keep an economy honest. The price of gold should not swing wildly like it has been doing since the 70s. The wild swing of the gold price is due to the failures of the Federal Reserve system. People should be investing their money in companies, not gold. Gold should be in the vaults doing it's job. Instead we replace gold with cotton and take away the foundation that keeps an economy from gyrating wildly.
It is insane to believe the Fed profited from the price of gold increasing the last decade since it never sold its reserves. That is not where its profits come from.
It profits from inflation. The men that own the Federal Reserve give us cotton and take the gold. Their currency is gold and oil. The Fed doesn't own the gold, the men that own the Fed own the gold. The Fed is just a cover for their operation. They put the Fed out in public to do it's dirty work and they profit behind the scenes laughing that we exchange our hard work and other treasures for their ever more worthless pieces of cotton.
Only in your imagination was life better in 1974 than now even The Disaster has not lowered our standard of living below ‘74. Your father’s problems are not those of most retired people even. I’m retired myself. Our age group is actually better off than the young families in our nation.
I guess you never heard of taxes which are definitely drained from citizens in the trillions EVERY YEAR.
Gold never kept the economy from swinging wildly, contrary to the fantasies you insist on calling realities. The difference is that many of those swings came from the precious metals strikes which were totally unpredictable.
The Fed is “owned” by member banks in name only. Control of the Fed is in the hands of government appointed governors not its stockholders. This was also true of the 1st and 2d banks of the United States.
If I had erroneous beliefs as to what the Fed is and how it works such as those you hold I would be in an uproar about it too. But since it is nothing like what you claim I can only shake my head at your ignorance.
Banks do not profit from inflation in any case. Inflation was the debtor’s best friend NOT the bankers. Inflation made loans easier to pay back and reduced the profits of bankers. Protecting the value of currency was the bankers’ main goal. Nor does the Fed CREATE inflation that is strictly on government excess spending forcing the Fed to buy debt and increase the money supply.