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The Federal Reserve is setting America up for economic disaster
The Hill ^ | September 18, 2017 | Armstrong Williams

Posted on 09/19/2017 7:24:05 PM PDT by Tolerance Sucks Rocks

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To: Toddsterpatriot
Central Banks create money out of thin air. They can then use this money to be the lender of last resort in a financial panic.

Its nice work, if you can get it.

61 posted on 09/20/2017 11:39:13 AM PDT by PGR88
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To: PGR88

I guess. Luckily we don’t need them very often.


62 posted on 09/20/2017 11:59:48 AM PDT by Toddsterpatriot (TANSTAAFL)
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To: Toddsterpatriot
I guess. Luckily we don’t need them very often.

We don't need them at all. They should be hanged for crimes against humanity.

63 posted on 09/20/2017 12:57:46 PM PDT by PGR88
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To: PGR88
They come in handy during a panic. Unfortunately, they're only batting .500 Really screwed up in the 30s.

Did much better since 2008.

64 posted on 09/20/2017 1:03:42 PM PDT by Toddsterpatriot (TANSTAAFL)
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To: Toddsterpatriot

Screwed up with Russian default, Tech-bubble, housing too

But its the nature of all Central Banks. They are agents of government and the powerful, to protect their interests.

In the USA the maintain the pretense of independence. In China, they just do what the Party and Government tell them

The result is the same though.


65 posted on 09/20/2017 1:10:55 PM PDT by PGR88
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To: PGR88
Screwed up with Russian default, Tech-bubble, housing too

How so?

But its the nature of all Central Banks. They are agents of government and the powerful, to protect their interests.

I agree, it's not in the interest of the government and the powerful to have the banking system crumble in a financial panic. Of course a banking system meltdown sucks for regular people too.

66 posted on 09/20/2017 1:26:30 PM PDT by Toddsterpatriot (TANSTAAFL)
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To: Garth Tater

I considered that a year ago when he started spouting off about our monetary system in which he doesn’t have the foggiest idea on how it operates, and I think you are right which is why I didn’t respond to him, but he did respond to my post?? Paid Schill for the Money Changers.


67 posted on 09/20/2017 1:38:58 PM PDT by eyeamok (Idle hands are the Devil's workshop)
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To: Toddsterpatriot

You make the false assumption that central banks can prevent or mitigate financial panics


68 posted on 09/20/2017 1:43:00 PM PDT by PGR88
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To: PGR88
They can make them a lot worse, like in the 30s when they allowed the money supply to shrink 33% and allowed 40% of US banks to fail.

How did that compare to 2008-2010?

69 posted on 09/20/2017 2:40:42 PM PDT by Toddsterpatriot (TANSTAAFL)
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To: Toddsterpatriot

Why is it the Fed’s job to prevent banks from failing?

According to the Fed itself, the number of commercial banks in the USA declined by 20% from 1920-29 anyway.

Besides, is there a government / private agency to prevent computer companies, railroads, or any other business from failing?


70 posted on 09/20/2017 4:21:14 PM PDT by PGR88
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To: Toddsterpatriot; Garth Tater

A private central bank issuing a public currency is a greater menace to the liberties of the people than a standing army... We must not let our rulers load us with perpetual debt. We must make our election between economy and liberty or profusion and servitude. If we run into such debt, as that we must be taxed in our meat and in our drink, in our necessaries and our comforts, in our labors and our amusements, for our calling and our creeds...[we will] have no time to think, no means of calling our miss-managers to account but be glad to obtain subsistence by hiring ourselves to rivet their chains on the necks of our fellow-sufferers... And this is the tendency of all human governments. A departure from principle in one instance becomes a precedent for [another]... till the bulk of society is reduced to be mere automatons of misery... And the fore-horse of this frightful team is public debt. Taxation follows that, and in its train wretchedness and oppression.

~ Thomas Jefferson


71 posted on 09/20/2017 6:24:32 PM PDT by PGR88
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To: PGR88
Why is it the Fed’s job to prevent banks from failing?

Depends. Why are the banks failing?

Besides, is there a government / private agency to prevent computer companies, railroads, or any other business from failing?

I can't think of one.

72 posted on 09/20/2017 6:49:25 PM PDT by Toddsterpatriot (TANSTAAFL)
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To: PGR88
A private central bank issuing a public currency is a greater menace to the liberties of the people than a standing army...

It's a good thing we don't have that.

We must not let our rulers load us with perpetual debt.

I agree, the debt is way too high, they spend way too much on way too much.

73 posted on 09/20/2017 6:53:06 PM PDT by Toddsterpatriot (TANSTAAFL)
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To: central_va

“More tariffs and less income taxes. “

Goods from OPEC & China need tariffs immediately.


74 posted on 09/20/2017 6:59:31 PM PDT by JPJones (Who is FOR tariffs? George Washington, Ronald Reagan and Me.)
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To: JPJones

A uniform tariff would be better.


75 posted on 09/20/2017 7:05:38 PM PDT by central_va (I won't be reconstructed and I do not give a damn.)
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To: PGR88
Tom knew what he was talking about. The country made some bad decisions in 1913 and the 16th Amendment was the worst of them. The almost unlimited debt it enabled has allowed the siren song of "free money" to lead us to ruin.

$20 trillion of debt on the books and uncounted trillions hidden by their false promises.

Either we end the Fed or the Fed ends our freedom.
76 posted on 09/20/2017 7:58:41 PM PDT by Garth Tater (Gone Galt and I ain't coming back.)
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