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View Poll Results: Are you happy with the Federal Reserve system?

Voters
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  • I love the Fed!

    1 16.67%
  • We shouldn't have to pay the Fed!

    1 16.67%
  • I don't really know how it works, but if it's worked for this long, it can't be that bad.

    1 16.67%
  • I don't really know how it works, but I find the current devaluation of the dollar troubling.

    2 33.33%
  • The Fed? I don't think this really pertains to me.

    1 16.67%
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  1. #41
    Senior Member placebo's Avatar
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    Bringing up a bit of an old thread, but whatever.

    I can't really get my head around the Fed, I'm not educated in economics enough. It's a lot more complicated than I can understand at this point and I'd need to do a lot more research but my only input is that documentaries like Zeitgeist and The Money Masters have been quite popular lately, on the net, and talk about the Federal Reserve.

    Zeitgeist is very conspiracy theory like so a lot of people don't put a lot of weight on what it says, but it's still interesting, and if you're the kind that was really unaware about politics, etc, it's good at hitting you hard.

    The Money Masters is from 1995 I think and goes a lot more indepth with the history and background and system of banking and the Fed. I haven't watched the Money Masters yet, plan to, but I'm listening to the radio and they're talking about it.

    Some educated-like guy called in said it's kind of a partial thing with the government and private interests. Haha, well I'm no help in figuring it out but I think it's safe to say that there's some kind of problem with the system the way the economy looks.

    (Phew, I'm not living in the US)

    If the Fed is privately-owned and if enough people believe that, what would happen anyway?

  2. #42
    The Black Knight Domino's Avatar
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    Quote Originally Posted by Annuit Coeptis View Post
    The Federal Reserve is owned by private bankers. When you and I pay our federal income tax, most of those dollars go to paying off a small number of private bankers. Are you pleased with this system?
    I've watched Congressional hearings concerning the state of financial affairs, and frankly, I don't believe that Bernake has any clue about the devastation that is laying in the wings. He seems to be completely disconnected from the mass of Everyman, the middle tier losing houses left and right, jobs being shipped over seas, the devaluation of the dollar. I found him downright shifty and delusional. I wondered aloud if his internalized confidence, the nobody-can-shake-me attitude was because he has some sort of off-shore bank account.

    Today, there was a discussion about Veteran's affairs and I'm mortified about how badly we treat our veterans. Like offering the G.I. Bill as an incentive to join the ranks, and then not delivering. That's a breach of contract. These people are volunteers. We should treat them better. But of course, we CAN'T when money is being flushed away into whatever it is that the work-a-day tax payer has NO CLUE about.
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  3. #43
    Senior Member Lateralus's Avatar
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    Quote Originally Posted by placebo View Post
    Bringing up a bit of an old thread, but whatever.

    I can't really get my head around the Fed, I'm not educated in economics enough. It's a lot more complicated than I can understand at this point and I'd need to do a lot more research but my only input is that documentaries like Zeitgeist and The Money Masters have been quite popular lately, on the net, and talk about the Federal Reserve.

    Zeitgeist is very conspiracy theory like so a lot of people don't put a lot of weight on what it says, but it's still interesting, and if you're the kind that was really unaware about politics, etc, it's good at hitting you hard.

    The Money Masters is from 1995 I think and goes a lot more indepth with the history and background and system of banking and the Fed. I haven't watched the Money Masters yet, plan to, but I'm listening to the radio and they're talking about it.

    Some educated-like guy called in said it's kind of a partial thing with the government and private interests. Haha, well I'm no help in figuring it out but I think it's safe to say that there's some kind of problem with the system the way the economy looks.

    (Phew, I'm not living in the US)

    If the Fed is privately-owned and if enough people believe that, what would happen anyway?
    I've watched the Money Masters. Overall, I found it interesting, but I don't trust it. It had a lot of information, but I know that at least part of the presentation is (perhaps deliberately) misleading. It champions William Jennings Bryan as an anti-central bank man, even going so far as to imply that he resigned from Wilson's cabinet because of Wilson's stance on banking. That's not true, at all. Bryan wanted to see silver reinstated as a monetary metal, which would cause inflation (the money supply was deflating in the late 1800s under the gold standard).

    If it was that misleading about Bryan (a subject I have at least decent knowledge of), I hesitate to trust the information on other subjects where my knowledge isn't so strong.

    The Federal Reserve is part private, part public, but 7 of the 12 voting members of the board are presidential appointees, not private bankers. The bank presidents of the 12 Federal Reserve branches only have 5 votes.
    "We grow up thinking that beliefs are something to be proud of, but they're really nothing but opinions one refuses to reconsider. Beliefs are easy. The stronger your beliefs are, the less open you are to growth and wisdom, because "strength of belief" is only the intensity with which you resist questioning yourself. As soon as you are proud of a belief, as soon as you think it adds something to who you are, then you've made it a part of your ego."

  4. #44
    Senior Member Lateralus's Avatar
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    Quote Originally Posted by Lateralus View Post
    Enough inflation to keep up with population increases, sure. The CPI is a joke.
    I want to rephrase this, because this statement is actually incorrect. You want to inflate the money supply enough to keep up with increases in output, so you don't have a deflation effect.

    I'd like to know what it is about inflation that people think is good.
    "We grow up thinking that beliefs are something to be proud of, but they're really nothing but opinions one refuses to reconsider. Beliefs are easy. The stronger your beliefs are, the less open you are to growth and wisdom, because "strength of belief" is only the intensity with which you resist questioning yourself. As soon as you are proud of a belief, as soon as you think it adds something to who you are, then you've made it a part of your ego."

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