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Passions in Poetry

The Federal Reserve: Leeches in our Wallets?

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Edward Grim
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since 12-18-2005
Posts 1112
Greenville, South Carolina


0 posted 05-14-2007 04:58 PM       View Profile for Edward Grim   Email Edward Grim   Edit/Delete Message      Find Poems   Click to visit Edward Grim's Home Page   View IP for Edward Grim

I've been hearing several opinions of the Federal Reserve (The Fed). And I was wondering what you guys thought about it. Does anybody really know about the Fed? I've talked to quite a few friends (young and old) and nobody really knows anything about them. My young friends sure as hell don't know anything about it. Know that I have a very bad opinion about the whole group. I posted this in the Alley, because it will surely be a rant. Let's just say if someone asked me what the worst year in American history is, I'd say 1913.

I'm trying to build my reservoir of political knowledge and I want a lot of opinions so I can make an educated decision on which one to cling to. I've been reading quite a bit but I want a discussion.

And yes, I'm being serious. It's time I do less joking and more learning. (Wow, that does sound like a joke coming from me.)
Danke

Head Cheese & Chicken Feet

Drauntz
Member Elite
since 03-16-2007
Posts 2907
Los Angeles California


1 posted 05-14-2007 06:36 PM       View Profile for Drauntz   Email Drauntz   Edit/Delete Message      Find Poems  View IP for Drauntz

is it the book "the Confidence Game" talking about? I only read first 5 pages in 5 years.
So can't tell. But I will start reading it because you asked. wait for the answer. it could be a wrong book though.
Edward Grim
Senior Member
since 12-18-2005
Posts 1112
Greenville, South Carolina


2 posted 05-14-2007 06:58 PM       View Profile for Edward Grim   Email Edward Grim   Edit/Delete Message      Find Poems   Click to visit Edward Grim's Home Page   View IP for Edward Grim

I've never heard of that book. I'll check it out though. Thanks

Head Cheese & Chicken Feet

Brad
Member Ascendant
since 08-20-99
Posts 5896
Jejudo, South Korea


3 posted 05-14-2007 07:38 PM       View Profile for Brad   Email Brad   Edit/Delete Message      Find Poems  View IP for Brad

I'm confused. Do you know what the Fed is? The idea is simple, the practice hard.

The Fed regulates the amount of money going through the American economy. In an economic downturn it makes money 'cheaper' (by lowering interest rates). In an economic boom it makes money 'dear' in order to control inflation.

Trying to figure the optimum point is the hard part, and even when they're getting it mostly right, there will always be someone who says that they are being too 'conservative' or too 'liberal'.

Aurelian
Member
since 03-20-2007
Posts 109
TX, USA


4 posted 05-14-2007 08:18 PM       View Profile for Aurelian   Email Aurelian   Edit/Delete Message      Find Poems  View IP for Aurelian

Most of the folks I've heard of who were suspicious of the Fed considered it part of some "global bankers conspiracy." That much, I'm pretty sure, is hogwash.

All I can say is, America hasn't done too bad since 1913, and the banking systems of the 1800's were more than problematic.

Was the Fed the best fix? I don't know, but compared to the banking systems of the 1800's or those of say, Latin America, it looks pretty good.
Edward Grim
Senior Member
since 12-18-2005
Posts 1112
Greenville, South Carolina


5 posted 05-14-2007 08:18 PM       View Profile for Edward Grim   Email Edward Grim   Edit/Delete Message      Find Poems   Click to visit Edward Grim's Home Page   View IP for Edward Grim

"I'm confused. Do you know what the Fed is? The idea is simple, the practice hard."

Ok, yes Brad, I know what the Fed is. I'm not a moron. Why would I bring it up if I didn't know what it was? Come on.

Yes the idea may be "simple" as you put it, but the execution of it is far more complex than you're letting on. It's been said many times that the Federal Reserve System is shrouded in excessive secrecy. Their meetings are behind closed door and the records of those meetings aren't released until years later. It is such unneeded secrecy and opacity that even policy analysts don't know what the hell the Fed is doing. Do you know that the Federal Reserve prints about 160 billion dollars a day? And each note, whether it is a 1 dollar bill or a 100 dollar bill, costs a mere four cents to print?

"The Fed regulates the amount of money going through the American economy. In an economic downturn it makes money 'cheaper' (by lowering interest rates). In an economic boom it makes money 'dear' in order to control inflation... there will always be someone who says that they are being too 'conservative' or too 'liberal'..."

I really think you're simplifying it, Brad. Do you really think that's how it goes down? I don't. From what I've read, the corruption in the Fed is astonishing and is slowly crippling the United States. Here's a little snippet from a very informative, underground documentary I got my hands on:

"The culprit is not democrat or republican. It is obligatory… the rule of many by a few. America was founded for the purpose of overcoming oligarchy and plutocracy. John Adams, in a letter to Thomas Jefferson in 1787, wrote: ‘All the perplexities, confusion and distress in America arise not from defects in the Constitution, nor from want of honor or virtue, as much as downright ignorance of the nature of the coin, credit and circulation.’ It’s all about the money. Is it bona fide or debt based? The difference is subtle but it means the difference between an honest economy and a rigged economy. The problem is centralized banking. A privately owned cartel of bankers who control America’s currency.
     Many culprits can be named, but they all have one thing in common, they are working within a corrupt monetary system. If we don’t undo the damage of the 1913 Federal Reserve Act, we will continue to suffer wars and social decay as plutocracy reigns supreme. Jefferson said, ‘I believe banking institutions are more dangerous to our liberties than standing armies.’ The issuing powers should be taken from the banks and restored to the people.
     Jefferson wasn’t a conspiracy nut. He, like Madison, Jackson, Lincoln and others understood the motives behind centralized banking. In 1776, it was the private central bank of England that was usurping the wealth of the colonies. To avoid this usury in the new nation, the constitution mandated that Congress, not banks, will control the nation’s money.
     In 1913, Congress abdicated that responsibility to a cartel of private bankers that call themselves the Federal Reserve.
     Here is the problem in a nutshell, The Fed abolished our honest, bona fide, stand alone money-money whose value was based on society’s production of goods and services. It replaced this honest money with Federal Reserve notes which they claim title to. They loan them to us. They represent debt created out of thin air.
     All money in circulation is from the creation of debt. Created out of thin air in copious amounts, but secured by our labor and possessions as collateral.
     Who fares better? The person who has to work for money in order to buy goods and services, plus pay for the cost of the money? Or the person who prints the money out of thin air, collects interest on its use, controls the economy with its supply and can foreclose on the tangible goods?"

Head Cheese & Chicken Feet

Edward Grim
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since 12-18-2005
Posts 1112
Greenville, South Carolina


6 posted 05-14-2007 08:36 PM       View Profile for Edward Grim   Email Edward Grim   Edit/Delete Message      Find Poems   Click to visit Edward Grim's Home Page   View IP for Edward Grim

One of the most remarkable admissions by a banker was by Josiah Stamp, President of the Bank of England and second richest man in Britain in the 1920's. Speaking at the University of Texas in 1927, he said, "The modern banking system manufactures money out of nothing. The process is perhaps the most astonishing piece of sleight of hand that was ever invented. Banking was conceived in inequity and born in sin. Bankers own the earth. Take it away from them but leave them the power to create money, and with a flick of a pen, they will create enough money to buy it back again..." "...Take this great power away from them and all great fortunes like mine will disappear, for then this would be a better and happier world to live in. But if you want to continue to be the slaves of bankers and to pay the costs of your slavery, then let bankers continue to create money and control credit."

Head Cheese & Chicken Feet

Drauntz
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since 03-16-2007
Posts 2907
Los Angeles California


7 posted 05-14-2007 09:04 PM       View Profile for Drauntz   Email Drauntz   Edit/Delete Message      Find Poems  View IP for Drauntz

Confidence Game  by Steven Solomon
Brad
Member Ascendant
since 08-20-99
Posts 5896
Jejudo, South Korea


8 posted 05-16-2007 03:22 AM       View Profile for Brad   Email Brad   Edit/Delete Message      Find Poems  View IP for Brad

But what about today? You haven't said anything about Bernanke or Greenspan or even Volker.

To be honest, my surprise is that the damn thing actually works. The boom/bust cycles of the nineteenth century and the early twentieth have gradually lessened over the last fifty years.

I'm leery of Stamp and that quote. I haven't checked yet (that is, I could be completely wrong here), but 'banker' was often used as synonym for Jew at that time so be a little careful there. It makes more sense if you see it in that light.
  
Edward Grim
Senior Member
since 12-18-2005
Posts 1112
Greenville, South Carolina


9 posted 05-16-2007 10:24 AM       View Profile for Edward Grim   Email Edward Grim   Edit/Delete Message      Find Poems   Click to visit Edward Grim's Home Page   View IP for Edward Grim

Brad, please don't think I'm an expert on the subject. As of this moment, I'm just repeating the information I've been finding. I tell you, it's tough to find negative information on the Fed. I'm not looking for negative info; I just want both sides. I've been reading a lot and watching a lot of documentaries on the subject and many of my findings are disturbing.

quote:
To be honest, my surprise is that the damn thing actually works. The boom/bust cycles of the nineteenth century and the early twentieth have gradually lessened over the last fifty years.


We may think it works, but maybe that's what we've been programmed to think. We might believe it works, because we're used to it and being used by it. The thing that caught my eye the most was:

quote:
Who fares better? The person who has to work for money in order to buy goods and services, plus pay for the cost of the money? Or the person who prints the money out of thin air, collects interest on its use, controls the economy with its supply and can foreclose on the tangible goods?


That almost says it all.

quote:
I'm leery of Stamp and that quote. I haven't checked yet (that is, I could be completely wrong here), but 'banker' was often used as synonym for Jew at that time so be a little careful there. It makes more sense if you see it in that light.



Brad, the guy was a banker. I hate using Wikipedia, but here's some proof that he was, in fact, a banker:
http://en.wikipedia.org/wiki/Josiah_Stamp,_1st_Baron_Stamp

He was the director of the bank of England.

quote:
But what about today? You haven't said anything about Bernanke or Greenspan or even Volker.


Well, I've come across several disquieting pieces of information that has affected the U.S. today. It's definitive proof of the Fed's corruption. It deals with the events of "terrorist" attacks on September 11, 2001. I've been reticent to post it because I'll probably get railed for it. But mostly because it's a ton of information and I'm sorting it out at the moment, I'll probably post it by the end of this week or the beginning of next week.

Head Cheese & Chicken Feet

hush
Senior Member
since 05-27-2001
Posts 1693
Ohio, USA


10 posted 05-23-2007 01:12 AM       View Profile for hush   Email hush   Edit/Delete Message      Find Poems  View IP for hush

Well, this is one hell of a conspiracy theory.
rwood
Member Elite
since 02-29-2000
Posts 3797
Tennessee


11 posted 05-23-2007 08:02 AM       View Profile for rwood   Email rwood   Edit/Delete Message      Find Poems  View IP for rwood

Here's ya a "family tree" of the Federal Reserve.

though it looks like they've left out the influences of the elite, steadfast, and very faithful Catholic Church.

and here's ya a video to watch about the secrets."

lots of history and fact there, along with hearsay and conspiracy theories.

It's good to do your homework, though it's likely you'll end up frustrated and disgusted.

The corporation that heads all corporations?

from a distance if they want a venture to fail, and in your face if they have an interest in more than your interest.

just try passing one of many audits, which are necessary and important, but they also breed fear and greed and creative financing.

just gotta find the positives and invest wisely, or try to hoard and hide it--but then we can't proclaim we're good tax paying citizens if we do that.
 
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