re: Feds creating db to track hate speech on twitter. In other words ...

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Serious question that I've always wondered. Why is this allowed to happen? There had to be a benefit of it to sell it to the people in government and potentially the public at large. What was the stated benefit of the Federal Reserve at the time of its creation?

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They had to sneak it in during Christmas holiday, otherwise it wouldn't have passed. The concept was rejected many times before.

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I was taught the Fed was set up to eliminate the bank runs and panics back in the 1800s and early 1900s, but what was the purpose of taking the creation of currency away from the government and placing the responsibility with the Fed? Was that an integral part of controlling panics?

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This is what we're told, but the bank runs and panics were caused by the people that wanted to install this type of central banking, which had been attempted multiple times in the 1800s with much backlash from the people and the politicians that were uncorrupted.

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I have a cursory knowledge of how money is lent in relation to the creation of new currency (10X the new currency created can be lent if I remember correctly, I may not) but couldn't that also be done with the government creating the currency?

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Fractional reserve banking is an absolute sham, a crime of epic proportion. It's hard to understand every nuance of this stuff, but the basics are pretty basic, if people understood the fundamentals of this concept there would be revolution immediately.