T Nation

The Fed


#1

Will it be America's downfall?

Can anyone recommend some good books?

Thanks


#2

[quote]Brett620 wrote:
Will it be America’s downfall?[/quote]

Your use of the future tense is adorable.

Kind of like saying “will the lung cancer which has metastasised into the liver and kidneys be the downfall of the patient?”

Yes. It IS America’s downfall, and has been for the last century.

Why we drop tons of explosives on inconsequential people in Central Asia, Africa and the Middle East, and not drop one bomb on any of these criminal motherfuckers is totally beyond my understanding.

http://batr.org/markets/federalreserve.html


#3

“If the American people ever allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all their property until their children will wake up homeless on the continent their fathers conquered.”

Thomas Jefferson


#4

[quote]Varqanir wrote:

[quote]Brett620 wrote:
Will it be America’s downfall?[/quote]

Your use of the future tense is adorable.

Kind of like saying “will the lung cancer which has metastasised into the liver and kidneys be the downfall of the patient?”

Yes. It IS America’s downfall, and has been for the last century.

Why we drop tons of explosives on inconsequential people in Central Asia, Africa and the Middle East, and not drop one bomb on any of these criminal motherfuckers is totally beyond my understanding.

http://batr.org/markets/federalreserve.html[/quote]

AMERICA’S downfall, or the PEOPLE of America’s downfall?


#5

Those who are against the Federal Reserve are under the mistaken belief that all booms and busts in an economy can be eliminated. This ain’t possible.


#6

[quote]NorCal916 wrote:
Those who are against the Federal Reserve are under the mistaken belief that all booms and busts in an economy can be eliminated. This ain’t possible.[/quote]

Are you sure about that? That really seems closer to what the Federal Reserve claims to do: http://www.federalreserve.gov/faqs/about_12594.htm


#7

[quote]NickViar wrote:

[quote]Varqanir wrote:

[quote]Brett620 wrote:
Will it be America’s downfall?[/quote]

Your use of the future tense is adorable.

Kind of like saying “will the lung cancer which has metastasised into the liver and kidneys be the downfall of the patient?”

Yes. It IS America’s downfall, and has been for the last century.

Why we drop tons of explosives on inconsequential people in Central Asia, Africa and the Middle East, and not drop one bomb on any of these criminal motherfuckers is totally beyond my understanding.

http://batr.org/markets/federalreserve.html[/quote]

AMERICA’S downfall, or the PEOPLE of America’s downfall?[/quote]

What’s the difference? Does the cancer destroy the patient? Or just his body?


#8

[quote]NorCal916 wrote:
Those who are against the Federal Reserve are under the mistaken belief that all booms and busts in an economy can be eliminated. This ain’t possible.[/quote]

No, the people who are against the Federal Reserve are against theft, graft and usury.


#9

[quote]Varqanir wrote:

[quote]NickViar wrote:

[quote]Varqanir wrote:

[quote]Brett620 wrote:
Will it be America’s downfall?[/quote]

Your use of the future tense is adorable.

Kind of like saying “will the lung cancer which has metastasised into the liver and kidneys be the downfall of the patient?”

Yes. It IS America’s downfall, and has been for the last century.

Why we drop tons of explosives on inconsequential people in Central Asia, Africa and the Middle East, and not drop one bomb on any of these criminal motherfuckers is totally beyond my understanding.

http://batr.org/markets/federalreserve.html[/quote]

AMERICA’S downfall, or the PEOPLE of America’s downfall?[/quote]

What’s the difference? Does the cancer destroy the patient? Or just his body?[/quote]

Well, cancer usually destroys a/some part/s of the body before claiming the whole person, right? I’d say that it’s more accurate to claim that it IS the people’s downfall and WILL be America’s downfall.


#10

I liked listening to Gerald Celente, he is non-partisan and pretty much an equal opportunity government hater.


#11

[quote]Varqanir wrote:

[quote]NorCal916 wrote:
Those who are against the Federal Reserve are under the mistaken belief that all booms and busts in an economy can be eliminated. This ain’t possible.[/quote]

No, the people who are against the Federal Reserve are against theft, graft and usury. [/quote]

Do you prefer a free hand when it comes to inflation?


#12

[quote]NorCal916 wrote:

[quote]Varqanir wrote:

[quote]NorCal916 wrote:
Those who are against the Federal Reserve are under the mistaken belief that all booms and busts in an economy can be eliminated. This ain’t possible.[/quote]

No, the people who are against the Federal Reserve are against theft, graft and usury. [/quote]

Do you prefer a free hand when it comes to inflation?
[/quote]

Not sure what you mean by a “free hand”. The creation of new “money” out of thin air is by definition debasement, the result of which (the more dollars there are, the less each one is worth) is indistinguishable from inflation.

Or are you claiming that inflation is a mysterious force of nature, which only the Fed with its magical printing press can control?


#13

[quote]Varqanir wrote:

[quote]NorCal916 wrote:

[quote]Varqanir wrote:

[quote]NorCal916 wrote:
Those who are against the Federal Reserve are under the mistaken belief that all booms and busts in an economy can be eliminated. This ain’t possible.[/quote]

No, the people who are against the Federal Reserve are against theft, graft and usury. [/quote]

Do you prefer a free hand when it comes to inflation?
[/quote]

Not sure what you mean by a “free hand”. The creation of new “money” out of thin air is by definition debasement, the result of which (the more dollars there are, the less each one is worth) is indistinguishable from inflation.

Or are you claiming that inflation is a mysterious force of nature, which only the Fed with its magical printing press can control?[/quote]

Of course it can be manipulated, but is it healthy?


#14

I wonder if some of the opprobrium directed towards the Fed should be more accurately directed towards the fractional reserve banking system. Though the two go hand in hand, they aren’t the same. I could argue that there is a proper and limited place for a banking supervisor, even a liquidator of last resort.


#15

[quote]Dr. Pangloss wrote:
I wonder if some of the opprobrium directed towards the Fed should be more accurately directed towards the fractional reserve banking system. Though the two go hand in hand, they aren’t the same. I could argue that there is a proper and limited place for a banking supervisor, even a liquidator of last resort.[/quote]

Well, yes, of course. The Fed is simply the visible face in the United States of the “fractional reserve banking system”, much as Al Qaeda is the visible face of “terrorism”.

It’s just easier to direct opprobrium against an institution with an actual address than against a systemic concept like “fractional reserve banking” or “fiat currency” or “usury”.


#16

[quote]NorCal916 wrote:
Those who are against the Federal Reserve are under the mistaken belief that all booms and busts in an economy can be eliminated. This ain’t possible.[/quote]

They can be minimized by allowing interest rates to fluctuate with market conditions. Cheap and easy credit - especially in the financial sector - is not a good thing.

The booms and busts that have happened in the last century only happened because of Fed manipulation in credit.


#17

First the name is wrong and misleading. It is not the Federal Reserve, it is the Banking Cartel of America. Except for their puppet head they are the greediest and most ruthless humans on earth. They have probable destroyed more lives than any war, with their greed alone. Remember Standard Oil, that would be Rockerfeller, supplied the Germany with fuel during the second world war. It was this cartel that destroyed the American Greenback currency in favor of their own, live has been a roller coaster ever since. To them it is all a game and we are the expendable pawns.

Want to get even, buy a safe and guard your own money!


#18

The Fed is one of many things that are contributing to the country’s decline. I think regulations in general are the biggest problem.


#19

[quote]streamline wrote:

Want to get even, buy a safe and guard your own money![/quote]

Depends on what you consider “money”.

If you’re talking about Federal Reserve Notes, or any fiat currency backed by debt, a Chubb safe guarded by Rottweilers and sharks with lasers mounted on their heads will not prevent that money from being stolen from you --even as it sits there in the safe-- by quantitative easing.


#20

[quote]Dr. Pangloss wrote:
I wonder if some of the opprobrium directed towards the Fed should be more accurately directed towards the fractional reserve banking system. Though the two go hand in hand, they aren’t the same. I could argue that there is a proper and limited place for a banking supervisor, even a liquidator of last resort.[/quote]

This is exactly what I’ve always said. The vast majority of “money” in the economy at any one time is not fiat currency, it’s all the theoretical money loaned and used as leverage and so on. The fractional reserve banking system lends something like $90 for every $10 in currency they have. That’s the problem. It’s not too much fiat and risk of hyperinflation.