jecht8

8 Important Facts About the Federal Reserve

Nobody's arguing with the use of a currency here (at least I won't be).
The problem is the ability of the Fed to print up the money for the use of the US Gov't to finance their overspending, and then charging interest on it. Since the interest doesn't exist, it will continue to increase exponentially no matter how small the % rate is. One doesn't have to look to deep to see the problems here.


On Jan 20 10:38 PM Lokonomist wrote:

> In the video.google.com/video... you will see that the revolutionary
> colonies would not have won the revolution had it not printed paper
> money to finance the struggle. It was called "colonial script" with
> hardly any equivalent reserve. They did what the Bank of England
> did, like what the Federal Reserve had done --exercise the power
> the people had delegated through Congress to print paper money to
> spend for development, which made this nation the greatest on the
> planet! Borrowing is not like Medusa's head that turn everyone to
> stone! In this regard, only the ignorant jumps into an empty swimming
> pool.
>
> Is there a downside to this exercise of power to print money to build
> the great railways and the incomparatble U.S. highways that linked
> all states in the country, constructs our tallest skyscrapers and
> create our multibillion-dollar institutional infrastructures, etc.
> for the good of the commonseal or to make how this nation looks like
> today? Of course there is always a downside, part of the material
> and social capital costs -- every exercise of power has. But the
> Fed also administers relief as a result of unavoidable foul-ups.
> Besides, take note that corruption thrives in honesty, just as in
> corruption there can be also an exceptional honesty.The complaints
> of the people in fringe are louder in the outback. When the economy
> is sick, the remedial pill is always bitter to swallow. But let's
> live in the real world, not in the world of the Wizard of Oz. There
> will be no collapse of the economy that toothless tigers pictured
> worse than that of the 1920s. That's fantasy in a science fiction
> story that could win this year's Academy Award!