I wonder what would happen if your contry said NO MORE to banks and Federal reserve

[Yunru]

Here is a situation (made up):
Some politicans say this to the bankers and those who own Federal reserve. We will stop giving you money. We are sick of you. We will not pay your stupid debts any more.
How would the banks respond to this? With War? War with printed money they just made up (having no value). They would have to make a new valut that is 100-100 for sure. (oh yeah just skip the advertising)



Interesting to watch.
Here is a playlist:
https://www.youtube.com/watch?v=DyV0...1VbFzgwrq1jkUJ

[Laize]

Here is a situation (made up):
Some politicans say this to the bankers and those who own Federal reserve. We will stop giving you money. We are sick of you. We will not pay your stupid debts any more.
How would the banks respond to this? With War? War with printed money they just made up (having no value). They would have to make a new valut that is 100-100 for sure. (oh yeah just skip the advertising)

Interesting to watch.
Here is a playlist:
https://www.youtube.com/watch?v=DyV0...1VbFzgwrq1jkUJ

What inanity have you been listening to?

No one "owns" the Federal Reserve.

And nothing has any value beyond what other people are willing to pay for it.

[Deleted]

"The Reserve Banks are not federal instrumentalities for purposes of the FTCA (the Federal Tort Claims Act), but are independent, privately owned and locally controlled corporations."

The Fed isn't some governmental entity. It's a private moneymaking scam. The owners and leaders of which nobody actually knows, by the way.

[Kalis]

Firstly; the banks don't have private armies, and I'm pretty sure that the local cashiers at BOV wouldn't do too well in scrap versus the local rugby team, let alone a military conflict.

Secondly; I don't own enough chickens to go to a barter system if the entire banking system collapsed. So fuck that.

[Laize]

"The Reserve Banks are not federal instrumentalities for purposes of the FTCA (the Federal Tort Claims Act), but are independent, privately owned and locally controlled corporations."

The Fed isn't some governmental entity. It's a private moneymaking scam. The owners and leaders of which nobody actually knows, by the way.

The Fed is a semiprivate entity by design.

They exist explicitly independently of the government so that politics cannot enter into the Governors' decision-making processes.

How they're treated in court is a matter of practicality AND has nothing to do with whether or not they can be sued.

And it's not a private moneymaking scam. Didn't you realize nearly all profits realized from interest payments were remitted to the US treasury?

[Deleted]

And it's not a private moneymaking scam. Didn't you realize nearly all profits realized from interest payments were remitted to the US treasury?

Nearly all? Well, the Fed prints new money for the cost of ink and paper. It loans the money to the government, who then pays it back (supposedly, at some point) with interest. If that's not a scam, I don't know what is.

[Laize]

Nearly all? Well, the Fed prints new money for the cost of ink and paper. It loans the money to the government, who then pays it back (supposedly, at some point) with interest. If that's not a scam, I don't know what is.

It's not a scam. It's the fiat system.

Your country uses it too. EVERY country uses it.

Yes, nearly all money gets remitted to the US treasury. Why only "nearly all"?

Because banks over a certain size are required to hold stock in their Regional Federal Reserve Bank. Some of the Fed's profits are sent to them as dividends in exchange for the requirement that they hold the stock. These dividends are limited, by law, to 6%.

Everything else is remitted to the Treasury.

[Mayhem]

It's not a scam. It's the fiat system.

these two sentences make no sense ^^

[Yunru]

Well any1 smart enogh is already buying out all gold/silver/diamonds for a wortless piece of paper.
In the end...the guy with most gold always wins. Once the doomsday happens (i am not thinking a comet hitting a earth), the paper money will be at same s**t as the german mark before ww2. And the guy with most gold can simply make their own paper money that has weight on its gold....before it gets corupted and greedy and same stuff happens again.

http://en.wikipedia.org/wiki/Reichsmark

[Deleted]

I don't know, what happens if we just decide currency is worthless?

Let the bartering begin.

[Laize]

Well any1 smart enogh is already buying out all gold/silver/diamonds for a wortless piece of paper.
In the end...the guy with most gold always wins. Once the doomsday happens (i am not thinking a comet hitting a earth), the paper money will be at same s**t as the german mark before ww2. And the guy with most gold can simply make their own paper money that has weight on its gold....before it gets corupted and greedy and same stuff happens again.

The Federal Reserve's prime directive is to stop that from happening. You have fun with your yellow metal though. I'll buy things that actually earn money.

[BLCalliente]

The Federal Reserve's prime directive is to stop that from happening. You have fun with your yellow metal though. I'll buy things that actually earn money.

Buy a cow.

Two cows even.

[Deleted]

Yeah, that will go well.

That would go fairly.

As opposed to now, when pretty much useless people have amassed most of the "wealth" on this planet.

Let's see them barter once they run out of houses and cars.

[Laize]

That would go fairly.

As opposed to now, when pretty much useless people have amassed most of the "wealth" on this planet.

Let's see them barter once they run out of houses and cars.

I think you have no idea, whatsoever, how the real world works.

I question who filled your head with such nonsense.

- - - Updated - - -

Buy a cow.

Two cows even.

I buy stock.

[Deleted]

I think you have no idea, whatsoever, how the real world works.

I question who filled your head with such nonsense.

The real world? You mean the world where millionaires and billionaires keep hoarding up the currency, doing absolutely nothing with it, while calling themselves "job creators?"

Is that the "real world" you're talking about? I'm also curious, and I don't mean to be insulting here, but you wouldn't by any chance happen to be one of this Bill O'Reilly / Fox News / Republican crowd? Or something similar from a non-US country for that matter?

I don't see how it would be any more fair than paper currency, which just removes the haggling aspect. People with resources will acquire more resources and rise to the top where they continue to use their increased resources to perpetuate their ascent.

Uhh... Virtual currency (paper) does nothing to remove haggling. Shops could still put up products for "1 squirrel skin", "1 liter of water" and so on, and there'd be no haggling.

[Kalis]

That would go fairly.

As opposed to now, when pretty much useless people have amassed most of the "wealth" on this planet.

Let's see them barter once they run out of houses and cars.

In a barter system, the power goes to the people who can produce the most sheep, chickens, etc., which will be the people that have the most land - so you are just shifting who has the power, not equalising it.

In order to not have to carry their cows wherever they go, people would develop a system of IOUs that has a perceived value...or money, as we call it.

You're asking for the reset button to be pressed, which would cause untold human suffering until a stable system returns. That's not a step forward, it's huge leaps backwards.

[Felya]

The Federal Reserve's prime directive is to stop that from happening. You have fun with your yellow metal though. I'll buy things that actually earn money.

Yeah, I'll give you this gold dust for a pack of gum.

We should be like the Dutch and switch to orchids. Unlike gold and silver, growing flowers will account for an expending economy. /sarcasm

[darkwarrior42]

I don't see how it would be any more fair than paper currency, which just removes the haggling aspect. People with resources will acquire more resources and rise to the top where they continue to use their increased resources to perpetuate their ascent.

Not to mention without any standardized value or cost system, people who are skilled and great in all other respects but suck at haggling/negotiating will be getting far less value for the same product.

[Laize]

The real world? You mean the world where millionaires and billionaires keep hoarding up the currency, doing absolutely nothing with it, while calling themselves "job creators?"

Is that the "real world" you're talking about? I'm also curious, and I don't mean to be insulting here, but you wouldn't by any chance happen to be one of this Bill O'Reilly / Fox News / Republican crowd? Or something similar from a non-US country for that matter?

No, I happen to think Bill O'Reilly is the greatest con-artist in the world right now. The man has 2 master's degrees and a Harvard education. There's no way he actually believes half the shit he says.

And I said nothing about millionaires or anything. I said you had no idea how the real world works, and the regurgitated mess you call an argument bears that out.

Gold doesn't work as a currency system. It's been tried countless times and failed every time.

[Deleted]

In a barter system, the power goes to the people who can produce the most sheep, chickens, etc., which will be the people that have the most land - so you are just shifting who has the power, not equalising it.

In order to not have to carry their cows wherever they go, people would develop a system of IOUs that has a perceived value...or money, as we call it.

You're asking for the reset button to be pressed, which would cause untold human suffereing until a stable system returns. That's not a step forward, it's huge leaps backwards.

I'm not asking for any goddamn buttons to be pressed. I simply said a bartering economy would be more fair.

Yeah, the power would go to those who could produce the most food, the most water, the most anything useful. That's who should hold the power, that's who are actually the useful people on this planet. Not some rich billionaire amassing wealth in some luxury villa. He himself isn't doing anything, except existing. The farmers, the people securing the water, the people making clothing, the people making medicing, engineers fixing things, builders building things, those are the actually useful people.

Gold doesn't work as a currency system. It's been tried countless times and failed every time.

Where did I ever speak about gold?