Why Bankers Created the Fed 100 Years Ago

The Market Oracle, UK ^ | 23 December, 2013 | Christopher_Westley

[Errant]

A secret more protected than Obama’s birth certificate

Agree. Kind of makes you wonder what else the two have in common...

[B4Ranch]

“America does not know the difference between money and sex. It treats sex like money because it treats sex as a medium of exchange, and it treats money like sex because it expects its money to get pregnant and reproduce.” ― Peter Kreeft, How to Win the Culture War: A Christian Battle Plan for a Society in Crisis

[djf]

I remember reading a bit about how Adam Smith saw this.

With a fixed amount of money out there, you end up seeing more goods chasing the same amount of money.

Price deflation is the natural result.

It also encourages saving, because saving money makes sense if your money will buy more tomorrow than today.

Bankers don’t like this one bit.

They want increasing money supply and increasing prices.
This encourages borrowing and an increasing supply of interest payments (to them!).

[RockyTx]

what are the alternatives to a central bank?

please note that all ‘gold-backed-currencies’
have either failed or have been withdrawn.

[Carry me back]

Whoever owns it owns Obama and our presidents. They are puppets for big
money.

[Boogieman]

Ah, there’s a catch to that. To you, stable means 0% inflation, but to them it simply means low volatility. So, as long as the inflation is steady and doesn’t rapidly spike, they consider that a “stable” money supply.

[Errant]

what are the alternatives to a central bank?

I think the alternative to a central bank is no central bank, and preferably no banks. Cryptocurrency technology allows for that possibility.

If PMs are used for currency then banks become necessary for storage and to generate some kind of fractional notes based on gold/silver.

Currencies for the most part retain their value until governments get involved, run up debt and then debase the currency in order to do business as usual. Governments are the ones who get to steal or commit fraud without repercussion, as we're seeing with programs like Obamacare in the news today and etc.

We need government and their central bank cronies out of our medium of exchange (whatever it may be) forever. The people will then only have to contend with crooks whom can be arrested and thrown in prison for their justly deserved punishment.

[TomasUSMC]

We need another Andrew Jackson to wipe out the FED.

[Daffynition]

History vouches that back in 1840 on a remote hillside of southern Vermont [Stratton], more than 15,000 Whigs -- Republican forerunners -- gathered to hear Daniel Webster campaign for "Tippecanoe and Tyler Too." This was the Whig ticket of William Henry Harrison, nicknamed Tippecanoe for his victory over the Indians at Tippecanoe, Ind., and John Tyler.

The rousing presence of Webster brought those thousands to Stratton Mountain by stagecoach, horseback, even on foot. At a time when rural rallies were the rule, it was also, a weekly newspaper commented, the outcropping of "political excitement which pervaded the Union." To see and hear their candidates, the people had to go there, they had to be there. _________________________________________________

Considering the remoteness of this site, it is quite remarkable that 15K journeyed under extremely difficult circumstances to hear D Webster speak.

[Salvavida]

Thanks for that post. Awesome video.

[Toddsterpatriot]

Love those fake numbers!

[Toddsterpatriot]

Who owns the Federal Reserve?
The Federal Reserve System fulfills its public mission as an independent entity within government. It is not “owned” by anyone and is not a private, profit-making institution.

As the nation’s central bank, the Federal Reserve derives its authority from the Congress of the United States. It is considered an independent central bank because its monetary policy decisions do not have to be approved by the President or anyone else in the executive or legislative branches of government, it does not receive funding appropriated by the Congress, and the terms of the members of the Board of Governors span multiple presidential and congressional terms.

However, the Federal Reserve is subject to oversight by the Congress, which often reviews the Federal Reserve’s activities and can alter its responsibilities by statute. Therefore, the Federal Reserve can be more accurately described as “independent within the government” rather than “independent of government.”

The 12 regional Federal Reserve Banks, which were established by the Congress as the operating arms of the nation’s central banking system, are organized similarly to private corporations—possibly leading to some confusion about “ownership.” For example, the Reserve Banks issue shares of stock to member banks. However, owning Reserve Bank stock is quite different from owning stock in a private company. The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. The stock may not be sold, traded, or pledged as security for a loan; dividends are, by law, 6 percent per year.

http://www.federalreserve.gov/faqs/about_14986.htm

[Errant]

The Biggest Scam In The History Of Mankind

Love those fake numbers!

Well, coming from you, I guess that means we can just ignore that fake 17T debt they say we owe (over 4T to the Fed alone)! That's a relief. Are you sure the Fed's member bank owners won't mind if we suspend payment???

[Errant]

The Fed's days are numbered. Folks are beginning to wake up to the Fed scam and how it's sucking the lifeblood out of our country.

U.S. Fed 100 Years Is Enough: Time to Make the Fed Bank a Public Utility

The only question in my mind, is can we survive this mess they've gotten us into?

[Errant]

Peter Schiff On The Fed's Audacity

[Errant]

Another piece calling for the "End of The Fed".

Mark Spitznagel Asks "Wouldn't We Be Better Off Without Central Banks?"

I suspect the States will move to make gold and silver legal tender, bypassing the Fed all together, when the collapse of dollar begins in earnest.

It will come too late to prevent rioting and blood in the streets from the result however.

[Errant]

Love this:

[Errant]

Remember that 16T the Fed secretly loaned to foreign banks and financial institutions?

Fed’s Once-Secret Data Compiled by Bloomberg Released to Public - I suppose this is all fake too?

That's $50,000 dollars for every man, woman, and child living in the US. If the Fed had loaned those dollars to "Main Street" instead of a few banksters cronies, do you think that would have "stimulated" the economy?

Begs the question: Where did all of those dollars go, BagDadTodd?

[Toddsterpatriot]

Well, coming from you, I guess that means we can just ignore that fake 17T debt they say we owe

Oh no, we really owe that money.

Are you sure the Fed's member bank owners won't mind if we suspend payment???

You want to suspend payment to people who bought debt from the US Treasury?

[Errant]

Oh no, we really owe that money.

Yeah, I thought you'd change your tune when it came to the banksters not getting "their" money!

You want to suspend payment to people who bought debt from the US Treasury?

How 'bout a list of who we owe the funds to? Not everyone mind you, just a list of every one of the Fed member bank owners, and how much...