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

[lockedout]

"As we look back over the past hundred years, America has experienced the Great Depression, multiple recessions, stagflation and the loss of 99% of the dollarʼs purchasing power - none of it wouldʼve been possible without the Federal Reserve, creating bubbles and bursting them, enslaving us with debt and destroying our purchasing power through inflation

Yes, itʼs been a wonderful lie — for the banksters

And many Americans are left like George Bailey. Facing the collapse of their dreams and financial ruin

There are striking parallels in Frank Capraʼs Itʼs a Wonderful Life to lies and tricks of the modern banker elite. Human nature doesnʼt change and the greedy elite of 1913 and 2013 look much like Potter."

[Skroe]

Why do I have the feeling lockedout doesn't have a single investment to his name.

People who understand and make money don't post anti-Fed manifestos in video game forum threads using Youtube videos full off all your favorite Ron Paulisms.

Christ, it's gonna take years to clean up after that demented fossil.

[Deleted]

No. Just, no. Compare the number bank runs before and after the creation of the Federal Reserve. In the 20 years before it was created, you had 5 major bank runs. Post-creation, you had a grand total of two - both of which could, and should, have been averted by the politicians.

[Skroe]

No. Just, no. Compare the number bank runs before and after the creation of the Federal Reserve. In the 20 years before it was created, you had 5 major bank runs. Post-creation, you had a grand total of two - both of which could, and should, have been averted by the politicians.

Please no! Stop making sense. Don't worry. Lockedout is on the case! He will tell you why we should all be Austrians!!!!!

[lockedout]

Why do I have the feeling lockedout doesn't have a single investment to his name.

People who understand and make money don't post anti-Fed manifestos in video game forum threads using Youtube videos full off all your favorite Ron Paulisms.

Christ, it's gonna take years to clean up after that demented fossil.

Some people think differently than you, shocker I know.

[Lurkerqt]

Why do I have the feeling lockedout doesn't have a single investment to his name.

People who understand and make money don't post anti-Fed manifestos in video game forum threads using Youtube videos full off all your favorite Ron Paulisms.

Christ, it's gonna take years to clean up after that demented fossil.

It's people like you who don't understand the dangers of having a central bank that creates money out of debt. How is America ever going to escape bankruptcy when every USD that has ever existed Is not sufficient enough to pay of the debt to the Fed? The Fed Is a perfect example of how you can build a nation full of debt slaves that are slowly dying working for a living. The Fed has allowed the elite to purchase the real wealth of the US's land, resources and properties with monopoly money printed out of thin air at their discretion via the orchestration of stock market crashes. It's the biggest scam in history.

"It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."
-Henry Ford

"Whoever controls the volume of money in any country is absolute master of all industry and commerce."
-James A. Garfield, President of the United States

"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered."
-Thomas Jefferson

[satimy]

I commend the OP for bringing up this topic but be prepared of the statist authoritarian pigs that will come in here shilling the thread up.


God Speed


[Infracted]

[OneSent]

Thanks for posting!

I love this kind of stuff!

[Deleted]

"It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."
-Henry Ford

Two things to note:
1) There's no source for that quote. Indeed, it would be remarkable that Ford made that statement, given that..
2) Ford was a fanatic anti-semite who believed the banking system was being run by the jews, and he had published a paper with those views. This led to a number of libel suits that resulted in Ford issuing an apology in 1929 - the same year the above quote was made.

"Whoever controls the volume of money in any country is absolute master of all industry and commerce."
-James A. Garfield, President of the United States

Another non-sourced quote, although it mimicks another quote he gave, which was against making the Government the sole money printer in the US.

It would convert the Treasury of the United States into a manufactory of paper money. It makes the House of Representatives and the Senate, or the caucus of the party which happens to be in the majority, the absolute dictator of the financial and business affairs of this country. This scheme surpasses all the centralism and all the Caesarism that were ever charged upon the Republican party in the wildest days of the war or in the events growing out of the war.

"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered."
-Thomas Jefferson

Good thing the Federal Reserve isn't a private bank then...

[darkwarrior42]

It's people like you who don't understand the dangers of having a central bank that creates money out of debt. How is America ever going to escape bankruptcy when every USD that has ever existed Is not sufficient enough to pay of the debt to the Fed? The Fed Is a perfect example of how you can build a nation full of debt slaves that are slowly dying working for a living. The Fed has allowed the elite to purchase the real wealth of the US's land, resources and properties with monopoly money printed out of thin air at their discretion via the orchestration of stock market crashes. It's the biggest scam in history.

"It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."
-Henry Ford

"Whoever controls the volume of money in any country is absolute master of all industry and commerce."
-James A. Garfield, President of the United States

"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered."
-Thomas Jefferson

Bold statements with zero evidence, followed by three quotes which are either completely irrelevant or a blatant appeal to authority fallacy.

Somehow I'm not persuaded.

There are two possibilities:
1) You're trolling.
2) You're a zealot who's so blinded by your own views that you cannot understand how others do not agree with you; therefore, instead of actually presenting facts and reasonable arguments in support of your position, you simply state it outright in such a fashion that you can deride anyone who disagrees as foolish, or a shill, or some such.

(It is remotely possible that the video presents such arguments, but I tend to doubt it, and if the OP can't be bothered to make his own arguments I see no point in debating the matter with him. If I care enough to debate the points in the video, I'll take them up with the creator of the video.)

[Deleted]

Selling and buying shares always looks like gambing to me, except that the shareholders are playing with other people's jobs and lifesupport when gambling.
The stock market is a dangerous way to manage our economy and it rewards shortterm profit at ecologic cost instead of rewarding sutainable longterm investments.

So yeah, people who make a living only from buying and selling shares are leeches to the economy as they add nothing and just take away from it.
To those people, fuck you, get a real job.

[Hypasonic]

Yeah most people don't have a clue how the monetary system of today works, and that's how they want to keep it

[MerinPally]

People who hate on banks without having a close personal tie to them are just infuriating. They aren't some malignant evil. The majority of the time it's pure ignorance/misunderstanding. Sure there are bad bankers but there are bad doctors as well. Both cause catastrophic amounts of damage but they;re so few in number as they're found out quickly.

[dejaa]

Good thing the Federal Reserve isn't a private bank then...

It is neither private, nor public.

The stockholders in the 12 regional Federal Reserve Banks are the privately owned banks that fall under the Federal Reserve System. These include all national banks (chartered by the federal government) and those state-chartered banks that wish to join and meet certain requirements. About 38 percent of the nation’s more than 8,000 banks are members of the system, and thus own the Fed banks.

The concept of "ownership" needs some explaining here, however. The member banks must by law invest 3 percent of their capital as stock in the Reserve Banks, and they cannot sell or trade their stock or even use that stock as collateral to borrow money. They do receive dividends of 6 percent per year from the Reserve Banks and get to elect each Reserve Bank’s board of directors.

The private banks also have a voice in regulating the nation’s money supply and setting targets for short-term interest rates, but it’s a minority voice. Those decisions are made by the Federal Open Market Committee, which has a dozen voting members, only five of whom come from the banks. The remaining seven, a voting majority, are the Fed’s Board of Governors who, as mentioned, are appointed by the president.

- http://www.factcheck.org/2008/03/fed...bank-ownership

[Deleted]

Since 1913 (guess what country earned the most from WW1 and WW2 aswell) the US is run by private bankers and stockholders, goverment is just a puppet show for people to maintain the illusion of liberty and freedom. Keep living in your dream world fellow US citizens.

Dollar lost 99% of its value since 1913 (must be coincidence ofc!!) , that speaks for everything, also debt etc.

[Heathy]

this is what i don't get about countries saying 'we must lower our debt' if all money is borrowed from a central bank at interest you'll never be able to repay it out of principle. because the interest makes the debt more than what has been borrowed.

[Deleted]

this is what i don't get about countries saying 'we must lower our debt' if all money is borrowed from a central bank at interest you'll never be able to repay it out of principle.

You would be surprised that 90% of ppl dont understand that "principle" and think that everything is fine, especially on these boards. The debt cannot be repaid ---> a simple fact.

[The Stormbringer]

You would be surprised that 90% of ppl dont understand that "principle" and think that everything is fine, especially on these boards. The debt cannot be repaid ---> a simple fact.

This system represented by the sickle and star isn't exactly a good one either. The truth is we're probably screwed, but nothing short of a complete system overhaul could fix it. Not everyone can make investments or diversify. Our educational system doesn't even have our nation's economics as required learning. Hell, if they had a list of things that said, "Go out and learn these in your free time, they're very important and you'll be fucked without them." it would be a leg up to what they have now.

But I'm getting on a tangent.

[Deleted]

This system represented by the sickle and star isn't exactly a good one either. The truth is we're probably screwed, but nothing short of a complete system overhaul could fix it. Not everyone can make investments or diversify. Our educational system doesn't even have our nation's economics as required learning. Hell, if they had a list of things that said, "Go out and learn these in your free time, they're very important and you'll be fucked without them." it would be a leg up to what they have now.

But I'm getting on a tangent.

The 1st step is to put all debt on those who created it, imprison every banker, politician and their lackeys who put debt on their countries (put debt of whole country on them and make them work that out in work camps in quarries, mines, etc), create one bank per country which would create money (loans and debt) with 0% interest, the bank would sustain itself from payments for bank account from ppl, it would be non-profit organization as it should be.

[Heathy]

The problem with just writing off all debt afaik it creates the same problem as dumping a load of cash into poor a economy (like attempting to cure world hunger by throwing money at the problem), or mass printing money, you wake up one day and it costs 1 million bucks for a loaf of bread.

you'd also in a 'free' country have to let the bankers go because you can't just change a law and say 'hah your doing it right now off to jail you go'. that would be tyrannical.

the zero interest central bank would of been a good idea in the beginning i guess but i'm not an economist so i have very little common knowledge on the subject and the actual effect that would have. all i know is its a balancing act of keeping a countries money worth something.