It's a Wonderful Lie - 100 Years of the Federal Reserve

[Anti Federalist]

Just re-posted after being chucked down the memory hole.

Merry Christmas.

 

[Anti Globalist]

And it won't be gone anytime soon.

 

[acptulsa]

Still no Zippy? They gave him Christmas off this year?

 

[Anti Federalist]

Economist Stephen Moore: Trump Ready to Fire Fed Chief Powell for ‘Wrecking Our Economy’

https://www.breitbart.com/video/201...re-fed-chief-powell-for-wrecking-our-economy/

23 Dec 2018

President Donald Trump economic advisor Stephen Moore said the president was “infuriated” with Federal Reserve Chairman Jerome Powell and is considering firing him.

Moore suggested the Federal Reserve Board Sunday in his appearance on New York AM 970 radio’s “The Cats Roundtable” should be “thrown out for economic malpractice,” adding that Powell is “wrecking our economy.”

“I believe the people on the Federal Reserve Board should be thrown out for economic malpractice,” he told host John Catsimatidis. “What they did on Wednesday when the Fed chairman was speaking and telling the world that they were going to raise the interest rates – the stock markets just in the 45 minutes he was speaking dropped by 600 points. There is no inflation in the economy right now. They’re sucking the oxygen out of this booming economy that Trump has created. I don’t see any rationale for what the Fed did. We need to be putting more dollar-liquidity into the economy because there’s such a demand for dollars now all over the world. Everybody wants to invest in the United States and at the same time the world wants more dollars. The Fed is sucking them out of the economy. And it has really hurt the stock market.”

 

[Zippyjuan]

"Interest rates are too low! Savers being hurt and stock market being inflated."

"Interest rates are too high! Stock market is deflating!"

 

[Swordsmyth]

"Interest rates are too low! Savers being hurt and stock market being inflated."

"Interest rates are too high! Stock market is deflating!"

Maybe the Fed just shouldn't be.
Let the market decide what interest rates should be and how fast they should change.

 

[Zippyjuan]

Maybe the Fed just shouldn't be.
Let the market decide what interest rates should be and how fast they should change.

The Fed only sets what rates banks can borrow overnight at. Other rates are set by the market. Most rates are based off Treasury rates which are determined by auctions (the market).

Who would you put in charge of the money supply? Congress? The President?

 

[Swordsmyth]

The Fed only sets what rates banks can borrow overnight at. Other rates are set by the market. Most rates are based off Treasury rates which are determined by auctions (the market).

Sure.

Who would you put in charge of the money supply? Congress? The President?

A1S8:

The Congress shall have Power To...coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;

A1S10:

No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts;


The Market can handle the money supply just fine.

 

[Zippyjuan]

Sure.




A1S8:

The Congress shall have Power To...coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;

A1S10:

No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts;


The Market can handle the money supply just fine.

So Congress- who can never have too much money to spend- should be put in charge of deciding how much money they need. Brilliant!

 

[Swordsmyth]

So Congress- who can never have too much money to spend- should be put in charge of deciding how much money they need. Brilliant!

They can create gold or silver out of thin air?

 

[acptulsa]

They can create gold or silver out of thin air?

Only the states are under that restriction.

And no, they can't. But it has been proven they aren't above confiscating stuff.

So Congress- who can never have too much money to spend- should be put in charge of deciding how much money they need. Brilliant!

You'll have to take that one up with the people who wrote and ratified the Constitution. A document with which your employers at the Fed aren't strictly in compliance.

 

[Swordsmyth]

Only the states are under that restriction.

Whatever they COIN it must be metal.

And no, they can't. But it has been proven they aren't above confiscating stuff.

That is a different problem.

 

[acptulsa]

Whatever they COIN it must be metal.

Then how do you explain the phrases they've coined over the years?

 

[Swordsmyth]

Then how do you explain the phrases they've coined over the years?

That is a metaphor.

 

[UWDude]

So Congress- who can never have too much money to spend- should be put in charge of deciding how much money they need. Brilliant!

That's what the constitution says.

So Banksters - who can never have too much money to spend- should be put in charge of deciding how much money they need?

That's not what the constitution says.

The Fed only sets what rates banks can borrow overnight at

Oh thats all? well since you used the word "only", I am quite convinced this is an insignificant and useless power.
Therefore, it should be no problem at all taking that power away from them, and giving it back to the US Government.

After all, it is only what rates banks can borrow overnight at. No big deal.

 

[acptulsa]

That is a metaphor.

And Congress is not above claiming "coin" is a catchall phrase. Besides, even you will admit the people who drafted the Constitution didn't expect Congress to load the metal discs in the stamping dies personally.

Not that it matters. Wood, plastic and cardboard have all been coined. Literally. Look up mills.

 

[Anti Federalist]

The Fed only sets what rates banks can borrow overnight at. Other rates are set by the market. Most rates are based off Treasury rates which are determined by auctions (the market).

Who would you put in charge of the money supply? Congress? The President?

I miss the days when this "movement" was in favor of abolishing The Federal Reserve.

 

[Swordsmyth]

And Congress is not above claiming "coin" is a catchall phrase. Besides, even you will admit the people who drafted the Constitution didn't expect Congress to load the metal discs in the stamping dies personally.

Not that it matters. Wood, plastic and cardboard have all been coined. Literally. Look up mills.

If Congress debases the currency they can be voted out and the fact that they may tend to be more extreme about it means that the people will be more likely to react.

We should however pass a Constitutional Amendment to restrict Congress to either gold or silver.

 

[Swordsmyth]

I miss the days when this "movement" was in favor of abolishing The Federal Reserve.

We are.

Why zippy is allowed to post here as an active opponent of the movement I don't know.
[MENTION=2]Bryan[/MENTION] why is being a white nationalist more worthy of a ban than being a pro-Fed warmonger?

 

[acptulsa]

If Congress debases the currency they can be voted out and the fact that they may tend to be more extreme about it means that the people will be more likely to react.

We should however pass a Constitutional Amendment to restrict Congress to either gold or silver.

Make up your mind. Do you want to give Congress enough rope to hang themselves, or do you want to cut off their rope supply via amendment?

In any case, I don't like either of your authoritarian proposals. Ron Paul is right. People can make up our own minds what we want to use as money.