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actionjackson
Joined: 30 Dec 2007
Location: Any place I'm at
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 Posted: Sun Oct 02, 2011 9:21 pm Post subject: Is this actually true? |
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With all the hoopla over Wall Street, recessions, and exchange rates, I came across this video and was wondering if all you people who probably know more about money than I do can verify it's content.
http://www.youtube.com/watch?v=Oe0fGXzKb1o |
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recessiontime
Joined: 21 Jun 2010
Location: Got avatar privileges nyahahaha
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| Posted: Sun Oct 02, 2011 10:53 pm Post subject: |
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| yeah the vid is true. What`s more tragic is that people don`t know about it and are not even capable of understanding it. |
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comm
Joined: 22 Jun 2010
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| Posted: Mon Oct 03, 2011 2:53 am Post subject: |
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hahaha
It's all true, and I wish there was a blood-stained smiley in BBCode to reflect the Comedian-esque horror of it all. The Federal Reserve was created in 1913 and the dollar began losing value, creating a stealth tax which gave politicians resources to buy votes without actually increasing taxes. The real driving force of the rich/poor gap and debt slavery came in 1971 with fiat currency, which massively expanded the Federal Reserve's ability to cause inflation.
Only one politician has opposed the Federal Reserve and Fiat Currency for 30 years, including a great summary in this 5 minutes of CSPAN from 2007. Only one politician literally wrote the book End the Fed. Some of us are big fans of his. |
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actionjackson
Joined: 30 Dec 2007
Location: Any place I'm at
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| Posted: Mon Oct 03, 2011 4:46 am Post subject: |
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| I've known for a long time that the fed was actually a private company, I just never knew the extent of how it all worked. It really is scary stuff. |
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jaykimf
Joined: 24 Apr 2004
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| Posted: Tue Oct 04, 2011 2:07 pm Post subject: |
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| How cute! A little teddy bear expert on the FED. Too bad the bear is spouting so much BS. |
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wintermute
Joined: 01 Oct 2007
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| Posted: Tue Oct 04, 2011 4:56 pm Post subject: |
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| jaykimf wrote: |
| How cute! A little teddy bear expert on the FED. Too bad the bear is spouting so much BS. |
Would you kindly condescend to tell us why?
Seriously - let's hear the counter-position. |
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radcon
Joined: 23 May 2011
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| Posted: Tue Oct 04, 2011 5:08 pm Post subject: |
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| For sure the teddy bear has an agenda, but can you tell us what exactly was untrue about what he said? |
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comm
Joined: 22 Jun 2010
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| Posted: Tue Oct 04, 2011 6:30 pm Post subject: |
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| radcon wrote: |
| For sure the teddy bear has an agenda, but can you tell us what exactly was untrue about what he said? |
None of it is untrue, which is why one would resort to name-calling in the first place. Though on the topic of teddy bears, this one may have said it best:
| Theodore Roosevelt wrote: |
| ... rulers of the exchange of mankind's goods have failed through their own stubbornness and their own incompetence, have admitted their failure, and have abdicated. Practices of the unscrupulous money changers stand indicted in the court of public opinion, rejected by the hearts and minds of men. True they have tried, but their efforts have been cast in the pattern of an outworn tradition. Faced by failure of credit they have proposed only the lending of more money. Stripped of the lure of profit by which to induce our people to follow their false leadership, they have resorted to exhortations, pleading tearfully for restored confidence....The money changers have fled from their high seats in the temple of our civilization. We may now restore that temple to the ancient truths. The measure of the restoration lies in the extent to which we apply social values more noble than mere monetary profit. |
While this teddy bear doesn't agree with his namesake's solution (the New Deal), I can certainly relate to his evaluation of the "money changers". And I can only imagine what that Teddy would have thought of the fiat currency introduced in 1971. |
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Kuros
Joined: 27 Apr 2004
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| Posted: Tue Oct 04, 2011 7:57 pm Post subject: |
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| wintermute wrote: |
| jaykimf wrote: |
| How cute! A little teddy bear expert on the FED. Too bad the bear is spouting so much BS. |
Would you kindly condescend to tell us why?
Seriously - let's hear the counter-position. |
He doesn't argue here. He doesn't like us. He just drops by to call BS.
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southern boy
Joined: 29 Sep 2007
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| Posted: Tue Oct 04, 2011 8:14 pm Post subject: |
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dp
Last edited by southern boy on Tue Oct 04, 2011 8:19 pm; edited 1 time in total |
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southern boy
Joined: 29 Sep 2007
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| Posted: Tue Oct 04, 2011 8:14 pm Post subject: |
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double post
Last edited by southern boy on Tue Oct 04, 2011 8:18 pm; edited 1 time in total |
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southern boy
Joined: 29 Sep 2007
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| Posted: Tue Oct 04, 2011 8:18 pm Post subject: |
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Very interesting.
In term of money supply, when inflation rises prices increase in turn consumers had to pay more for same commodities. This leads rise in interest rate, so ones who benefit from this are banks and FED, and they dont have to necessarily jack up taxes if they keep on doing this. Am I getting it right? |
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comm
Joined: 22 Jun 2010
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| Posted: Wed Oct 05, 2011 9:31 am Post subject: |
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| southern boy wrote: |
Very interesting.
In term of money supply, when inflation rises prices increase in turn consumers had to pay more for same commodities. This leads rise in interest rate, so ones who benefit from this are banks and FED, and they dont have to necessarily jack up taxes if they keep on doing this. Am I getting it right? |
Kind of. The Federal Reserve actually gets to decide what they think the interest rate should be, but low interest rates are only part of how politicians benefit. Politicians benefit in three ways:
1. The Fed creates money for politicians to spend, allowing them to provide gov't services without raising taxes. Of course, much of the interest must be paid to the private owners of the Fed...
2. The more money that is created in this way, the lower the value of the dollar is, making gov't services cheaper to hand out. For example: lets say you paid 5% of your income to Social Security over your adult life and that the dollar lost 50% of its value over that time. While you may get the same number of dollars back from Social Security that you put in (if you're lucky), the money you get back has less value than it did.
3. The massive... MASSIVE amount of money being given to the private owners of the Fed and other banks as interest on the national debt allows for huge campaign contributions to keep these f****kers in office.
For example, in 2008 some of the top contributors to John McCain's campaign were the PACs of Merrill Lynch, JPMorgan Chase, Citigroup, Morgan Stanley and Goldman Sachs whereas some of the top contributors to Barack Obama's campaign were the PACs of Merrill Lynch, JPMorgan Chase, Citigroup, Morgan Stanley and Goldman Sachs. |
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southern boy
Joined: 29 Sep 2007
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| Posted: Wed Oct 05, 2011 2:13 pm Post subject: |
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| Thanks for clarifying. |
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Steelrails
Joined: 12 Mar 2009
Location: Earth, Solar System
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| Posted: Wed Oct 05, 2011 2:33 pm Post subject: |
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| comm wrote: |
| radcon wrote: |
| For sure the teddy bear has an agenda, but can you tell us what exactly was untrue about what he said? |
None of it is untrue, which is why one would resort to name-calling in the first place. Though on the topic of teddy bears, this one may have said it best:
| Theodore Roosevelt wrote: |
| ... rulers of the exchange of mankind's goods have failed through their own stubbornness and their own incompetence, have admitted their failure, and have abdicated. Practices of the unscrupulous money changers stand indicted in the court of public opinion, rejected by the hearts and minds of men. True they have tried, but their efforts have been cast in the pattern of an outworn tradition. Faced by failure of credit they have proposed only the lending of more money. Stripped of the lure of profit by which to induce our people to follow their false leadership, they have resorted to exhortations, pleading tearfully for restored confidence....The money changers have fled from their high seats in the temple of our civilization. We may now restore that temple to the ancient truths. The measure of the restoration lies in the extent to which we apply social values more noble than mere monetary profit. |
While this teddy bear doesn't agree with his namesake's solution (the New Deal), I can certainly relate to his evaluation of the "money changers". And I can only imagine what that Teddy would have thought of the fiat currency introduced in 1971. |
Not to quibble, but I do believe you mean Franklin D. Roosevelt, not Theodore. |
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