What would it mean to “end the Fed”? Professor Larry White says that in order to know the effects of such a measure, we must first understand the role of “th…
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Should We End the Fed?
What would it mean to “end the Fed”? Professor Larry White says that in order to know the effects of such a measure, we must first understand the role of “th…
well explained.
E.T.F.G.N.
END.THE.FEDERAL GOVERNMENT NOW.
Finally a smart one. I got to say I got a ton of bites for this one, pretty good haul I'd say. 😀
lol trollbait
It was created by govt, and doing as intended, by govt. This conversation is a waste of time. It is the govt central bank. Now, an we move on, to their policies, arte you prefer to stay on a fuccking moot point, a distinction without difference.
I agree and did not attempt to make the case against markets, etc. I made the case against the idea that the Fed is the government; it is not. It was created and its monopoly on money is maintained by the threat of force, which is credible only because the government maintains a monopoly on the "legal" initiation of force. The initiation of force is wrong and the government should not use force, or threats of, to maintain the Feds monopoly on the issuance of currency. The government is to blame
Citing the fact businesses will allow goodies from govt is not a case against business, capitalism, or free markets, but of big govt, being permitted to influence it. The Fed is an agency, created by, and for the federal govt. It facillittates monetizing debt, which allows spending, without taxing.
The Fed acts in the interest of those who will fund the campaigns of the political class. The Fed scratches the back of the banker who scratches the back of the politician, who appoints the the board of the Fed, who then scratches the back of the banker, and so on. And, most importantly, they are not subject to an audit by the GAO. As such, there is no accountability to the public, because a non-government agency need not be accountable to the voter.
It may have been created by an act of Congress, but the Federal Reserve Act was written by bankers and special interests. One of the supposed "strengths" of the system is it's independence from government and politics. The returns generated from the Feds holdings are returned to the Treasury, but this is miniscule compared to the benefits provided to special interests by the Federal Reserve System. It does not only fix interest rates, it also generates new base money when it expands its BS.
The federal reserve is NOT a federal agency, everything else you said is invalid because you did not understand this or you are lying about it. Do a google search of "10 things that every American should know about the federal reserve." Learn the truth, don't listen to this guy.
4:07 He says the 5 things the Fed does can be done better by private institutions when it IS a private institution.
The Fed was created by the Federal Govt. It creates currency, made law by Federal fiat. It orice fixes interest rates on the Federally imposed currecny. It is run by an appointee, of the Federal Govt. It gives all profits back, to the federal govt, each year. This doesnt sound like Goldman Sachs, to me.
0:21 WTF! Really, you got it wrong in less than a minute. LearnLiberty needs to straighten this guy out. The Fed is not a government agency.
oh yeah, and also like 97% of the Fed's profits are paid BACK into the US Treasury (including profits made from foreign + private banks), so there's that, too – another good thing for the US, especially if its currency is in demand due to its status as the reserve currency of the world.
the only problem is right now the US has the reserve currency of the world, which is a HUGE advantage for the US as it can print more money with other countries devaluing their own to increase the value of their own reserve holdings & exports, & preventing hyperinflation, & the US gets to purchase commodities at a marginally lower rate due to transaction costs. If & when the US dollar's status changes in the future, then ending the Fed would be prudent. But until then – probably not a good idea.
"GLD", issued by State Street, (SPDR funds), has around $45 Billion vaulted gold assets, issuing paper shares against them. These shares are bought and sold, at an instant, with a click of the mouse. "SLV" also, being silver. This is an easy way to change dollars, into liquid gold backed paper. This isnt a bet, like a futures trade can be. But as the fund sells, or buys shares, the fund sells, or buys gold bullion, backing it up. State has total assets over $200 billion. ASSETS.
That's a silly argument, especially your thoughts on implication. Does any bank ISSUE gold? No. Gold is a commodity, and if gold were legal tender only weight and purity would matter. There is no such thing as issuance of honest currency.
END THE FED. RON PAUL 2016! ;)
That would include all gold, not just govt gold. Your point was, you disagree with bank issued currencies. That implies you see Central Banks as better. All gold in the US, is a not the same as Central Bank holdings. Your figure includes private, not govt. So, you are arguing against your previous post. Private banks could issue currency, if private gold were deposited. Central Bank cant back its currency, with my gold. See what I mean Now, why do you prefer Govt central banks?
The latest figure for all the gold in the world is 171,300 tonnes.
The world economy is a completely different ball game today. Back when our currency was backed by gold, we didn't have to worry about foreign product invading our market. As much as i hate the fed, we need an institution with some form of national interest on site. We can't leave our currency wide open in front of Chinese aggressive investors.
"anyone that says it should be abolished should be charged with treason."
Hey, maybe we could try this system that might be better than using a federal reserve.
TREASON!
I'm sure you think it's the same thing snowden did.
Yes, we do. Historically, we functioned without Central Banks too. We also had gold/ silver coins, which are not printed. So, although we have now a Central Bank, it ought to be obvious, it must be possible, to do without one. And, interest rates went up and down, as needed, directed only by market fores.
The US govt, which is the worlds largest holder, reportedly has 260 Million ounces, not enough for 1 ounce each. All the mining on earth can only increase supply of gold, by 3%, which is near economic growth potentials, in GDP.
What you fail to report, is the speculative bubble, caused by the BUS, previously.
We have a central bank. It's called the federal reserve
A central govt, and a central bank are 2 different things. A govt currency isnt the only way. Have you ever been taught how interest rates are set by market forces, going up and down, on their own? If not, are you interested in this? It is key, to understanding our current situation.
If these banks have their way, all transactions will become digital and paper and even coin will become obsolete before the decade is out.
Paper currency and fiat coin is inefficient, expensive and untraceable
If these banks have their way, all transactions will become digital and paper and even coin will become obsolete before the decade is out.
Paper currency and fiat coin is inefficient, expensive and untraceable
What they will not tell you in supporting a move towards "Total Digital" is that the Central (private) Bank will take a small interest fee from both sides of every single transaction that occurs in the country and maybe the globe.
This will enrich the banks, impoverish the population and fuel inflation, making banks the ultimate power over our lives.
It is also an effort to separate gold and silver from money as a competing currency, or so they think
Right at the beginning the presenter announces that the Federal Reserve is a governmental agency. It is not.. It is a cartel of private banks. This first false statement cast doubt on the rest of the report…
Curiously this public relations piece calls for more privatization of our currency but who would head it? The same big banks that received product placement in the graphics. It appears to be a bid for even more de-regulation.
As much as i hate the Fed, a central government is necessary. Not everything can be run and regulated by a free market economy.
I disagree with paper currency issued by private banks as it still injects money from debt into the system (the interest is never printed) and still creates expansion of the money supply. Enough gold exists currently for every human on the planet to have 1 ounce, let alone all the other precious metals. We are also mining more today than ever before, which represents a more natural supply expansion.
end it!
Well. I have to bring up what happened when Andrew Jackson abolished the BUS. Over speculation, panic, then recession.
Gee, swell. When will you deliver the case of Snickers bars? I will happily accept, as long as it`s not COD.
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That was a great video!
Thank you
I just started a petition at The White House We the People Website to abolish the federal reserve. Please sign the position at the following link and forward it to others.
petitions.whitehouse.gov/petition/end-federal-reserve/tP771SZ2
David Klingensmith
Banks are fractional reserve. So, they do increase the money supply, but once it is, they cant any longer, unless more money is created. Now, the fed gives it. If you give me a check, I deposit it, and fractiona reserve makes it expand. But, when the cash comes out of your account, it contracts. Not net change. But money is govt created. Free markets chose precious metals, That isnt printed.
Let's say the gvt isn't allowed to borrow at all, they must depend entirely on what the people produce and tax it. You think the people can't create inflation in this type of system we have ? The people borrow from banks that prints the money.
You think govt spending gives returns, like a business does? Thats LOL, LOL, LOL, LMAO. Fucking Canuk. Stop with the lol. How about FU? Printing money devalues it. I have no idea how old YOU are, but my first car was $1800 cash, brand new, tax and license. Thats what printing money does, and the Canadian dollar has a similar issue. What's the difference between a Frenchman and a bucket of crap? The bucket