The truth about the fed

This is a discussion on The truth about the fed within the Off Topic & Humor Discussion forums, part of the The Back Porch category; Here it is distilled down to a 30 minute animated clip from YOU TUBE. This was sent to me by one of my new students, ...

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Thread: The truth about the fed

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    Exclamation The truth about the fed

    Here it is distilled down to a 30 minute animated clip from YOU TUBE. This was sent to me by one of my new students, an 8th grader! Forget my favorite book, THE CREATURE FROM JEKYLL ISLAND BY G. EDWARD GRIFFIN. It's all here. Watch for 30 minutes and you're done. Whether you believe and accept, that's up to you. But this video includes everything, including an explanation of a subject the bankers would rather you remain ignorant of: Fractional Reserve Banking. It is fun and entertaining in a scary sort of way. Hey, if my 8th grader gets it, you should too!


    added qks

    This is possibly the most important post I have ever made. Watch for 30 minutes. Open your eyes and your world may change. Mine did and it took me considerably longer to come to the same realizations. If you truly understand the incredible import of this info, spread the word. Because it is all true and it's real. You can actually see it happening all around you right here and right now.
    Former Army Infantry Captain; 25 yrs as an NRA Certified Instructor; Avid practitioner of the martial art: KLIK-PAO.

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    VIP Member Array Guantes's Avatar
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    An very interesting video, thanks for posting.
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    Quote Originally Posted by ExSoldier View Post
    Here it is distilled down to a 30 minute animated clip from YOU TUBE. This was sent to me by one of my new students, an 8th grader! Forget my favorite book, THE CREATURE FROM JEKYLL ISLAND BY G. EDWARD GRIFFIN. It's all here. Watch for 30 minutes and you're done. Whether you believe and accept, that's up to you. But this video includes everything, including an explanation of a subject the bankers would rather you remain ignorant of: Fractional Reserve Banking. It is fun and entertaining in a scary sort of way. Hey, if my 8th grader gets it, you should too!

    The American Dream By The Provocateur Network - YouTube

    This is possibly the most important post I have ever made. Watch for 30 minutes. Open your eyes and your world may change. Mine did and it took me considerably longer to come to the same realizations. If you truly understand the incredible import of this info, spread the word. Because it is all true and it's real. You can actually see it happening all around you right here and right now.
    The cartoon is trite, misleading, and mistaken. There is a rich mixture of truth with falsehood in there. The first falsehood presented was that there is no oversight by anyone, and they emphasized that by saying, "not even the SC; as if the SC had oversight on anything at all-- it doesn't. But, as to oversight by government, tell me again if there is no oversight, how come the Fed Chairmen, whoever they have been, are repeatedly testifying in front of Congress? How come they are repeatedly testifying before one or the other of the numerous committees of The House or The Senate?

    I could go on, but I gave up with the second piece of crapola which was presented as fact but which is not straight stuff either. It is the assertion that the Fed prints money. AH, but if the Fed just prints money, then what was that part about calling up the folks at Treasury to request that treasury print money? And do you really think Treasury just does that? Don't you see that at that particular point GOVERNMENT in the form of the Senate ratified Treasury Department officials, is in control?

    The whole assertion that the Fed gets its money from treasury needs considerable examination as well. It gets money from deposits from member banks. That's why it is called a bank.

    I gave up watching after finding these two absurd pieces of garbage in the cartoon. Its cute. But don't teach your kids that nonsense.

    The fantasy that cartoon wants to portray is that The Fed is some rogue institution with no governmental control or oversight, just doing its thing, and thereby harming our economy. The problem with that assertion is that it is wrong, and that through the decades The Fed has been a major stabilizing factor in our economy. Without them we'd have far worse chaos
    than that brought to us by neo-liberal economists. (Go look that up; it doesn't mean what you think.)
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    Its funny how some people can clearly see it and some people dont.

    Its the very reason that we are in the "state" that we are in.

    I have researched it, and that video paints the facts much softer than they really are.
    The further a society drifts from the truth, the more it will hate those that speak it...- George Orwell

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    Quote Originally Posted by HotGuns View Post
    Its funny how some people can clearly see it and some people dont.

    Its the very reason that we are in the "state" that we are in.

    I have researched it, and that video paints the facts much softer than they really are.
    So this doesn't become political, I'll make one comment about "the facts" and then bow out of the conversation. The cartoon portrayed the money for the mortgage market as coming from The Fed. It implied that the inappropriate spending by individuals, through borrowing at the bank, fostered by The Fed, was what led to the mortgage meltdown.

    Completely unsaid was a thing about the numerous non-bank mortgage originators. The money gets into this system when the originated mortgages are bundled into securities called "derivatives" and are sold on the open market by stock and bond brokers. The collapse we recently suffered had much more to do with the initiation, packaging, sale and resale, of these derivatives which were fraudulently labelled AAA by S&P than anything done by The Fed.

    Here's a great example of how these private loan originators (am I allowed to write this?) screwed the pooch.

    In 2005 I had a temporary assignment in San Bernadino CA. A young man who worked in my office, as a temporary hire at 15 dollars an hour, came to me to talk. He was thinking of buying a house. The realtor told him he would qualify for a $300,000 loan. I didn't actually believe it, and so I didn't try to talk him out of it. I figured no sane loan executive would issue that size mortgage to a guy with a temporary job earning 15 an hour.

    Turned out I was wrong. The non-bank loan originators were on a binge. They bundled the crap mortgages, got the derivatives labelled AAA, and sold these on the open market to unsuspecting buyers who trusted the S&P rating. Of course everyone lost a bundle, and guys like the one I met certainly lost their homes.

    NONE OF THIS had a thing to do with The FED. It was accomplished by a parallel "investment banking" system which had gotten out of control and was encouraging the origination of liar loans, and the sale of improperly rated securities.

    Again, The Fed overall has been a huge stabilizing factor in our economy. I don't like the effect they have on interest rates, but they control the interest that they charge their member banks, and little else.

    There is a different market which sets interest rates independently from The Fed. It is the sale of US Treasury Securities, and those are sold at open auctions. Therefore, our present very low interest rates which harm particularly retirees, is not exactly something that The Fed controls. IT is the result of the cumulative decision making of bond buyers at free and open Treasury auctions.

    Now, historically, The Fed played a huge role, and a very successful one at that, in taming the runaway inflation we suffered before many of you here were born or old enough to understand. We had horrific inflation from the early 1970s through about the end of the 1980s and that was tamed largely through actions of The Fed. The very same people or the younger political heirs of the same people who applauded The Fed back then are now the complainers.

    Some politicians just need handy enemies. Today it is The Fed. Can you say, "whipping boy?"
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    Senior Member Array Devilsclaw's Avatar
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    Totally agree with Hopyard.

    I certainly don't want Congress in control of the money supply.

    As to the debacle we are in now, it was about 95% NON-BANK loan brokers and various businesses calling themselves "Banks" that caused the mess. NOT the Fed, or the hometown bank on the corner. Bernake just made it worse with all the QE stuff, in my opinion, the Fed has become TOO political. But still better than the other 2 alternatives.

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    Personally, I don't want either Congress or the FED to control the economy. That's why we are a capitalist system. If we really LET the free market be FREE everything will balance out and this country can get back on the road to success for everyone willing to work.
    Former Army Infantry Captain; 25 yrs as an NRA Certified Instructor; Avid practitioner of the martial art: KLIK-PAO.

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    Also, there are the people who bought houses who could have never afforded them, took out home equity loans for $100-200 thousand dollars as the value of their home were falsely inflated, them just walked away.
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    We are living through the collapse of our financial system, the private "federal reserve" is fighting for its life, currently in the near east and europe massive instability...everything we "own" is worth less, everything we need to live is worth more...every country on the planet is devalueing thier currancy as fast as they can..people with wealth in the stock markets planetwide have moved to the sidelines, or into precious metals, whats left on wallstreet or maiden lane is institutional/hedge/government money that cannot move...or great piles of fraudulent MBA..or more correctly mortgage infered assets...our government lies and obstrufactes the truth with accounting magic, we are in a word "Counterfit nation"...Sixto's thinking as I am, but I also been hoarding ball lids..and primers...

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    Quote Originally Posted by Hopyard View Post
    The cartoon is trite, misleading, and mistaken. There is a rich mixture of truth with falsehood in there. The first falsehood presented was that there is no oversight by anyone, and they emphasized that by saying, "not even the SC; as if the SC had oversight on anything at all-- it doesn't. But, as to oversight by government, tell me again if there is no oversight, how come the Fed Chairmen, whoever they have been, are repeatedly testifying in front of Congress? How come they are repeatedly testifying before one or the other of the numerous committees of The House or The Senate?

    I could go on, but I gave up with the second piece of crapola which was presented as fact but which is not straight stuff either. It is the assertion that the Fed prints money. AH, but if the Fed just prints money, then what was that part about calling up the folks at Treasury to request that treasury print money? And do you really think Treasury just does that? Don't you see that at that particular point GOVERNMENT in the form of the Senate ratified Treasury Department officials, is in control?

    The whole assertion that the Fed gets its money from treasury needs considerable examination as well. It gets money from deposits from member banks. That's why it is called a bank.

    I gave up watching after finding these two absurd pieces of garbage in the cartoon. Its cute. But don't teach your kids that nonsense.

    The fantasy that cartoon wants to portray is that The Fed is some rogue institution with no governmental control or oversight, just doing its thing, and thereby harming our economy. The problem with that assertion is that it is wrong, and that through the decades The Fed has been a major stabilizing factor in our economy. Without them we'd have far worse chaos
    than that brought to us by neo-liberal economists. (Go look that up; it doesn't mean what you think.)

    I would quote both your posts...and really don't have the time right now to debate the fed...

    But you sir, have your facts mixed up. I don't care that the fed chairmen "testify" or not...

    One of our great presidents when asked what was the best thing he did as President said "I killed the central banking system"

    Sorry but the fed is a rogue agency. When bernake pushes trillions into the market that we don't have... The Federal Reserves, just like the IRS is a Inconstitutional agency....

    I
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    Quote Originally Posted by Mr7point62 View Post
    I would quote both your posts...and really don't have the time right now to debate the fed...

    But you sir, have your facts mixed up. I don't care that the fed chairmen "testify" or not...

    One of our great presidents when asked what was the best thing he did as President said "I killed the central banking system"

    Sorry but the fed is a rogue agency. When bernake pushes trillions into the market that we don't have... The Federal Reserves, just like the IRS is a Inconstitutional agency....

    I
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    In 1913, the 16th Amendment to the Constitution made the income tax a permanent fixture in the U.S. tax system. Seems pretty constitutional to me.
    If the Union is once severed, the line of separation will grow wider and wider, and the controversies which are now debated and settled in the halls of legislation will then be tried in fields of battle and determined by the sword.
    Andrew Jackson

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    VIP Member Array ExSoldier's Avatar
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    Hopyard and other doubters, I'd like to know why nearly every Presidential contender on the Republican side plus a ton of others in BOTH parties have continually called for a complete AUDIT of the FED? Maybe because no matter how many times the chairmen testify the inner workings of the various FED banks are secret and meetings are also secret -- nobody in Congress and no other outside entity has oversight. So what happens when something goes wrong? Why, the FED investigates itself, of course! They only recently admitted to being responsible for the Great Depression. Oops.
    Former Army Infantry Captain; 25 yrs as an NRA Certified Instructor; Avid practitioner of the martial art: KLIK-PAO.

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