re: What is your opinion of the Federal Reserve System?

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Don't assume the guys running the Fed know what they're doing; just look at our economy since the Fed's inception.

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I like to think they have an idea, our economy has been very stable all things considered. I guess much of that could be attributed to all the war manufacturing WWII and after and then the technology boom...but where has it been volatile? Other than the obvious depression/recession which I think would be fair to throw the blame their way.

If you want to learn about how the fed is awful and has helped create the current income disparity, this article is really, really good.

LINK

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The simple truth is, the Fed has caused systematic, persistent and massive falsification of prices all along the yield curve and throughout all sectors of the financial market. The single most important price in all of capitalism is the money market rate of interest. It sets the cost of carry in all asset markets, and therefore indirectly fuels the bid for all debt, equity and derivative securities in the global financial system.

Needless to say, when the cost of money is set at— and held at— zero in nominal terms, and driven deeply negative in after-inflation and after-tax terms, it becomes the mothers milk of speculation. Accordingly, it is neither a slightly lower trend rate of CPI inflation over the past 27 years nor an improvement in the art of central banking which has driven the core reference rate in the world financial markets—the 10-year US Treasury Note—–down by 80%.

Instead, the true agent of that decline is massive central bank intrusion into financial markets, wholesale manipulation of prices and fraudulent monetization of public debt and other securities. Just since 2006, the combined balance sheets of the world’s central banks have expanded from $6 trillion to $22 trillion, meaning that the scale of the implicit monetary fraud has been monumental.

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modern day money changers.

Very interesting read. I think the author and crispy above touched on some things that are good points. The fed did have a lot to do with causing this last recession. The housing bubble was created because of the interest being lowered to 1%, which it still is. Obviously that is why investors and investment bankers went and basically bought and sold mortgages and then as we all know...when they ran out of qualified borrowers, approved unqualified borrowers. A lot of that can be attributed to Greenspan (who was mentioned many times in that article) who more and more seems like a huge chode. I wonder when that interest rate for returns will be raised. Otherwise, it seems the investments will just be made in something else and we will have the same thing happen again.

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The fed did have a lot to do with causing this last recession

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Their 1st big oops was the Great Depression.

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“Regarding the Great Depression, … we did it. We’re very sorry. … We won’t do it again.” Ben Bernanke, November 8, 2002, in a speech given at “A Conference to Honor Milton Friedman … On the Occasion of His 90th Birthday.”

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LINK

It's one of the biggest crocs of shite in this country

Shady, secretive, keeping the wealthy happy.

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Take your entire net worth and hand it over to a group of thugs to "manage" for you. What could go wrong?




Are you talking about them controlling inflation, etc?

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"Give me control of a nation's money and I care not who makes it's laws" — Mayer Rothschild.

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Do you support a monetary system whose value is maintained by the barrel of a gun?



I don't know what exactly you mean by this.

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What is our money backed by?

Nothing. That's why we have to invade the Middle East and take out Saddam, Gaddafi, Assad, and others. They were putting together an Oil Bourse that would eliminate using dollars for oil trade.
If the rest of the world refuses to use the dollar, it becomes worthless because it is, itself, worthless.
It's also among the reasons we're in the Middle East, to bring the banking systems of a number of those countries into line with using the dollar as the world's reserve currency.


Watch the video I linked, "Creature from Jekyll Island" if you want to learn about the Federal Reserve.

Well, the dollar is backed by faith in the world's strongest economy. Are you a gold standard type?

I've heard the oil dollar argument before and that is interesting to me. I will try to give that vid a watch when I get the chance...I noticed that it's rather long; however, the first two comments mentioned the Hebrews so I bet it'll be good.

Preach it TX. Where's Russian when you need him?