Hearing on Federal Reserve starting now on CSPAN

[Carson]

I was thinking some more on the hearings today.

The question of, "Would doing away with the central bank make us weaker as a nation and unable to respond?"

That has troubled me some but it is really uncalled for.

Think about it this way. It doesn't make us weaker it just restores the power to where it should be; with the people. People would still be able to borrow against their assets if we got in trouble.

Allowing those outside of our government to borrow against everyone's assets through trickery has sapped us so dry we can't even carry out normal activities required to fuel the economy.

Once again the government would need to come to us for OUR money. That's the way it used to be. That is the way it should be.

As for firing up the fake money presses in time of need, we didn't need a central bank for that in earlier times of war. See the little bumps in this chart? That is times we introduced currency like the Continental. It was later worked out of the system and the purchasing power of the dollar was restored.

'It's Not Worth a Continental"

 

[P3ter_Griffin]

On c-span3 right now.

 

[acptulsa]

Here it is archive on CSpan

http://www.c-spanvideo.org/program/ReserveRef

It's amazing that CSPAN isn't getting scrubbed clean the way YouTube is.

A stable dollar worth working for would go a long way. Another would be to take the power of some to fire up the fiat money presses when ever they want to dictate their way. We don't profit by that much in scratching out a living. They are spending into our profits to the extent even very sound business models can't keep up. The way the economy is in a why bother working for a dollar someone else already spent.

It is imposable for the little guy to save in any form that was available forty years ago. The stock market only rises as a reflection of the devaluation of the dollar. Same with buying commodities such as gold, silver or any of the others. You may keep pace with inflation. Even though you barely keep pace that is all stripped away with capital gains taxes on false profits.

Banking is dead from both directions. They don't pay any interest to the depositor. Last time I looked it was .02 APR.

If you want to start a bank you can't compete with the counterfeiters who print it up an no risk to their capital. If the make a profit they hand out their bonuses. If they take a loss they pass it onto the taxpayers.

I like the "false profits" phrase. How is it possible that people put up with being charged capital 'gains' taxes on investments which do not gain, but merely hold their actual value?

I The question of, "Would doing away with the central bank make us weaker as a nation and unable to respond?"

That has troubled me some but it is really uncalled for.

Think about it this way. It doesn't make us weaker it just restores the power to where it should be; with the people. People would still be able to borrow against their assets if we got in trouble.

Allowing those outside of our government to borrow against everyone's assets through trickery has sapped us so dry we can't even carry out normal activities required to fuel the economy.

Once again the government would need to come to us for OUR money. That's the way it used to be. That is the way it should be.

As for firing up the fake money presses in time of need, we didn't need a central bank for that in earlier times of war. See the little bumps in this chart? That is times we introduced currency like the Continental. It was later worked out of the system and the purchasing power of the dollar was restored.

Bottom line.