Kucinich: Federal Reserve No More “Federal” Than Federal Express! Abolish it and let the U.S. government print U.S. money.
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Dennis Kucinich: Federal Reserve No More “Federal” Than Federal Express!
Kucinich: Federal Reserve No More “Federal” Than Federal Express! Abolish it and let the U.S. government print U.S. money.
Hahahahaha…you can not do that i control the hole world…get used to
it…
Dennis Kucinich: Federal Reserve No More "Federal" Than Federal Express!
According to this Internet's ebay, an "Orient Automatic CEM5Z008BS Wrist
Watch for Men" sells for $50.00. Thursday, April 4, 2013 (Common Era),
12:49 P.M. (Earth – Eastern Standard Time).
@jimmyrtle No, it isn't. Show me chapter and verse. The Constitution
mentioned the term dollar twice (once for a now-defunct slave clause and
the other for a bail of $20), which begs the question, what was a dollar.
The dollar, which was the old Spanish milled dollar, was defined as 371 1/4
grains of fine silver. The Coinage Act of 1792 later codified what was
already commonly understood. How do you COIN paper? "Weights and Measures"
is pointless for paper notes, i.e. bills of credit.
The point that the Fed has no real budget is part of the problem. Money
(real money, i.e. commodity money) represents the product of wealth
creation, i.e. goods and services in the economy. Whoever gets the Fed's
new funny money first gets it before prices have risen to convey the
increased money supply. The rest of us get AFTER prices have risen. Wages
prices rise a year or so after other prices. It's a loss of real wages. Who
gets the new money first? Financial services sector.
elect this man
@joepeeler34 You think audits should cover primary functions? I thought
audits covered buys/sells, profits/losses, revenue/expense, inventory?
@jimmyrtle No, the Federalist party created the central bank. The Democrats
who won the debate at the Constitutional Convention then ended it. LOL! The
Federalists wanted a much more nationalized government at the Convention.
The Jeffersonian/Madisonian position prevailed. You could just as easily
say that some of the Founders composed the Federalist party with them
passing the Alien and Sedition Acts making that law consitutional. It
wasn't anymore than a central bank.
Paul/Kucinich 2012 end the fed!
@jimmyrtle "Extinguished" is just another word for repaid in finance. They
are not accountable to Congress because no one can overrule them. You think
they are accountable because the President nominates the FED Board of
Governors and the Chairman. Yes, but the list that the president draws from
is a creation of the FED. And the Presidents of the Fed regional branches
are chosen by the banks that compose the Federal Reserve System. Isn't that
convenient!
@joepeeler34 You're smarter than President Washington and the Founders. LOL!
@joepeeler34 As far as I can tell, they can regulate the value of money any
way they choose. Via Central Bank or not. The Founders didn't want states
to issue paper money, but they were okay with the Federal government
issuing it. Yes, good for central, bad for states.
@jimmyrtle No, they can't change the exchange rate if they like. That's
price fixing. Silver and gold are commodities that have exchange rates set
by market transactions. It's like trying to set the price of bacon to eggs
at a fixed ration. It creates shortages and imbalances. Coinage Act was
created by Founders. Coinage Act merely codified what was already
understood. Just as the Constitution merely codified already existent
common/natural law and natural rights. It didn't invent them.
@jimmyrtle Mr. Washington's party disagrees with you. Jefferson, Madison,
Jackson, and the American people who threw the Federalists out disagree
with you. I guess the Alien and Sedition Acts were constitutional, too. To
be consistent, you must hold that position because your Federalist party
did that, too. Where in the Consitution does it say that a central bank is
to be created? Where does it say that a state-sanctioned banking cartel can
be given that power without amendment?
@jimmyrtle I don't have to amend it. That would be those who won't
intrinsically worthless paper to be a currency. It's not money by the way.
A money is a storehouse of value. A paper currency fails that test. It is
currency. I don't have to repeal paper because the laws of economics and
physics will do it for me. Historical fact: average life span of a fiat
paper currency is 27-years. This debt-based paper currency system is
collapsing before your eyes. You're too brainwashed to see it
@jimmyrtle I didn't say that the discount window was 0%. I was referring to
Fed Funds Rate. The FFR is how the Fed manipulated rates downward. It sends
a false signal that more savings exist than actually do. Real savings can
not be duplicated with artificial banking procedures. In interest rate's
economic function is to coordinate production across time. It should move
up and down based on the supply of available savings and the demand for
credit.
This informative video, 25K views. Cat licking its balls, 25 million. We
are in trouble.
@joepeeler34 Yes, "regulate the value of" means they can change the value.
The value was not fixed in the Constitution.
Can you answer me a few questions? Where does real credit derive? Can real
savings (delayed consumption) be replace by artificial banking procedures?
Can the Fed and its member banks create credit out of nothing by engaging
in fractional reserve banking or the Fed's magical ability to create credit
out of nothing by crediting member banks' accounts? What happens when those
rates are kept artificially low for a sustained period? What happens when
that pretend credit touches real capital?
@jimmyrtle The Constitution doesn't give sanction to fiat money. It doesn't
explitly prohibit the chewing of gum, either. Again, the Constitution
wasn't a list of all the things the central government couldn't do, nor was
it a list of all the things the states couldn't do. It was meant to empower
the central government in a limited sphere. If the power was expressly
given, then it was denied by default. A Constitution is by defintion
limited government. It's intended to limit.
@joepeeler34 The savings rate is at a multi-year high.
@joepeeler34 Yes, it simply meant create. The Congress had the power to
create money and the power to regulate its value. The Constitution did not
require money to be gold or silver. Paper was not prohibited either. The
dollar was not defined in the Constitution.
@jimmyrtle That's price fixing. It's as absurd as fixing the price of a car
to a bicycle independent of supply and demand. As I have explained, it is
in reference to a codification of market exchange rates. The govt. will
codify and attest to the exchange rate of various coins in the market. Gold
and silver are just tradable commodities. They have exchange values with
other goods. The govt. didn't create the pricing system anymore than it
invented money. They are emergent orders.
@hablerz we have an emergency. Ron Paul should oversee the fed. he is next
in line in his committee which oversees monetary policy. scumbag boener is
trying to stop him.
@joepeeler34 The Federalists have zero to do with the topic. The Founders
established the First Bank of the US in 1791. President Washington signed
the bill. The Democrats obviously lost the debate, because the Bank was
created. We're off a metallic standard for our money, does the National
Institute of Standards and Technology still exist?
@brainstorm310 – the federal reserve banking system is a quasi-governmental
agency; The Federal Reserve is not controlled by private banks, but by a
publicly appointed board of governors. Many confuse "owning" and
"controlling". Private banks, while they may own shares in the individual
Federal Reserve Banks, do not have any control over the Federal Reserve
System, much like how a private individual may own shares of a large
corporation, but has little say in the day to day operations.
@joepeeler34 Yes, it's a gift from the Fed to the Treasury.
@jimmyrtle Yes, the cost of the Fed monetizing govt. debt and banker debt
is payed for with inflation. Member banks must also pay fees. The Fed can
also purchase debt with money it creates out of nothing. The bond is then
payed for by money taken from the taxpayer. The Fed returns the money to
the Treasury minus operation expenses of the Fed. A budget is irrelevant
when talking about the Fed because it can create all the currency it wants
to bail out whoever it likes.
@jimmyrtle It has no budget by any definition that I understand. It can
create as much digital/accounting money as it wants out of thin air. The
Fed can buy Tsy's with money created out of nothing. When the notes are
payed, the Fed deducts the interest (on money created out of nothing) and
returns it to the Tsy minus operating expense of the Fed. It doesn't need a
budget because it can just credit bank accounts. See? The cost is payed for
by inflation. You call that a budget?
@jimmyrtle There was great debate about that central bank. Hamilton and the
Federalists (those who gave the people the Alien and Sedition Acts and run
rough-shod over habeus corpus) hated the limits placed on the central
government by the Constitution. They always tried to use their shock troops
in the federal courts to create a shadow Constitution. This is why the
people rejected the Federalists. Jefferson killed that central bank.
Jackson killed Biddle's bank 30-years later.
@jimmyrtle So, if the Congress passes a law that says that isn't authorized
by the Constitution, then it's legal because they said so. If that's true,
then why ever bother amending the Constitution? If the congress passes a
law prior to the 16th Amendment imposing an income tax, is it legal? Why
then would they have bothered with the 16th Amendment? Why did the Congress
bother with the prohibition amendment? Couldn't they have just passed a
law? Your argument is absurd. Try harder.
"New regulations." Yep, same old solution. The banking and health care
sectors are the most regulated by bureaucrat. They have been for decades.
There is no free market in either sector. Which areas are in permanent
crisis? You will have to regulate by bureaucrat when the market's
regulation by fear of loss is taken away. That is what the FED and
collectivized risk (FDIC) do to the banking sector. It is just that the
regulation by bureau won't make the system sound in that environment.
@joepeeler34 The video is full of errors. It's clear I know more than the
makers of that silly video.
@jimmyrtle Also, you have unwittingly, implicitly proved my point. You are
incorrectly claiming that the Congress's intent of "to regulate the value
thereof" is a license to manipulate the exchange rates of silver to gold
(or copper for that matter). What other "value" could you be referring to
other than commodity money. Paper currency couldn't be issued without a
link to commodity money, however distant in its past, because no exchange
rates for paper could exist without that connection