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re: Will Trump Try to end the Federal Reserve?
Posted on 4/28/17 at 1:17 pm to TigersHuskers
Posted on 4/28/17 at 1:17 pm to TigersHuskers
I read an interesting article years ago about the creation of the federal reserve. It was a meeting of 4 or 5 big financial guys. They hashed out the details and before closing had to think of a title for it. The first 3 ideas contained the word 'Bank'. The chairman overruled 'Nobody likes banks.' So they settled on 'Federal Reserve.'
1
Posted on 4/28/17 at 1:27 pm to Zach
That reminds me of a Steven Wright line from one of his standup routines:
"I'm not allowed to tell you the name of the hotel I'm staying in but I can tell you there are two trees involved."
"I'm not allowed to tell you the name of the hotel I'm staying in but I can tell you there are two trees involved."
Posted on 4/28/17 at 2:31 pm to Hawkeye95
quote:
there is no universe where trump could get rid of the fed. It just wouldn't fly with congress.
it would also be terrible for our economy. I don't like the fed but a transition from our fiat based currency would SUCK.
There are some thinkers out there that have alternative ideas on how to manage the money supply and banking conundrum but it will never get past ideas because the folks who are running the Fed/Global banking system like it the way it is.
Posted on 4/28/17 at 3:18 pm to LSURussian
quote:
That reminds me of a Mitch Hedberg line from one of his standup routines:
"I'm not allowed to tell you the name of the hotel I'm staying in but I can tell you there are two trees involved."
Fify
Posted on 4/28/17 at 3:33 pm to Bass Tiger
quote:
here are some thinkers out there that have alternative ideas on how to manage the money supply and banking
oh, well we should definitely go ahead and scrap the system we have without delay then
Posted on 4/28/17 at 3:55 pm to 90proofprofessional
quote:
oh, well we should definitely go ahead and scrap the system we have without delay then
Who said that? My point was the folks in control are quite happy to continue with the current system regardless if an alternative idea had merit.
You think the elites running the banking system want a change? Here, I'll help ya answer, you think entrenched politicians who occupy the DC Brothel want term limits and lobby reform. See that was not hard at all, the answer to both ?'s is HELL NO!
Posted on 4/28/17 at 4:01 pm to TigersHuskers
I hear he is has it lined up right after he finishes labeling China a currency manipulator, withdrawing from NAFTA, achieving universal affordable health coverage, making Mexico pay for the wall, and ensuring ISP's can sell our data without consent.
We have some more waiting to do. Unfortunately he only got one of those things checked off the list so far.
We have some more waiting to do. Unfortunately he only got one of those things checked off the list so far.
Posted on 4/28/17 at 4:03 pm to Bass Tiger
quote:
My point was the folks in control are quite happy to continue with the current system regardless if an alternative idea had merit
Sounded an awful lot like you were disputing that the current system was worth keeping on its own merit relative to some alternative
Posted on 4/28/17 at 4:40 pm to 90proofprofessional
quote:
Sounded an awful lot like you were disputing that the current system was worth keeping on its own merit relative to some alternative
No, the current system may be the best we can do but we'll never know because the folks in control would not allow any other system that would end their reign.
Posted on 4/28/17 at 4:52 pm to Bass Tiger
Whose "reign" would end? The people who tell the fed to pursue low, stable inflation and full employment?
Posted on 4/28/17 at 5:01 pm to 90proofprofessional
quote:
Whose "reign" would end? The people who tell the fed to pursue low, stable inflation and full employment?
If you don't think there's a circle jerk between the investment/institutional banks and the Fed I don't know what to tell ya.
Posted on 4/28/17 at 5:02 pm to Bass Tiger
quote:
No, the current system may be the best we can do but we'll never know because the folks in control would not allow any other system that would end their reign.
What are some of the other alternatives?
Posted on 4/28/17 at 5:07 pm to crazy4lsu
quote:
What are some of the other alternatives?
Rather than trying to recall from my 58 yr old mind I would have to start Googling and reading again. I know after the 2008/2009 meltdown there were several articles and youtube vids offering various ideas on how the Fed could be eliminated or it's structure changed.
I'm heading out to dinner,, maybe when I get back this evening I'll see if I can find some links.
This post was edited on 4/28/17 at 5:08 pm
Posted on 4/28/17 at 5:26 pm to Bass Tiger
quote:
If you don't think there's a circle jerk between the investment/institutional banks and the Fed I don't know what to tell ya.
You could tell me what you even mean, for one. Are you alleging that they're not acting in accordance with their legal mandate, at the prompting of some banks?
Posted on 4/29/17 at 8:07 am to 90proofprofessional
quote:
You could tell me what you even mean, for one. Are you alleging that they're not acting in accordance with their legal mandate, at the prompting of some banks?
What the "circle jerk" means is that the FOMC quite often is comprised of ex-employees (Goldman Sachs is a favorite) of these investment/institutional banks and they will always have the best interest of those institutions ahead of the common man.
I go back to the bailouts of 2008/2009, there's no way we'll agree or know who is right but I say we would have been better off letting these investment/institutional banks take the bath on their CDO/CDS/MBS investment debacle.
For some reason Lehman Bros ended up being the fall guy for that mess but they were all complicit! Yeah I know, we were all told Lehman Bro was the worst of the worst, lol.
The folks who paid the price (wealth transfer) were the prudent savers (primarily retirees) when ZIRP was enacted. It was ZIRP and QE that allowed these "too big to fail" institutions to clear their bad debt from their books with help from the US government(me and you the taxpayers)and to some degree real estate investment companies who got bargain prices on distressed properties with cheap money. We were told we have to buy that shite to keep the economy from crashing.
The problem is there will be another scam and another and if the huge investment/institutional banks are involved (and they will be)they're not going down, the relief will come from the "people"!
And to answer your last question, I'm sure the Fed and the investment/institutional banks are operating within the law that their lawyers/lobbyists have worked doggedly for by currying favor with their favorite politicians.
This post was edited on 4/29/17 at 8:09 am
Posted on 4/29/17 at 8:20 am to crazy4lsu
quote:
Will Trump Try to end the Federal Reserve?
quote:
No, the current system may be the best we can do but we'll never know because the folks in control would not allow any other system that would end their reign.
What are some of the other alternatives?
I'm not going to research the details of the suggested alternatives to the Fed because I don't want to invest that much effort into something that will never happen barring the collapse of society.
Here's two links I found with 1 google search. First one is Ron Paul's ideas so I'm sure he has gold and silver in the mix somewhere.
One thing to keep in mind, the Fed/Global banking system hates bitcoin, well, until they control it! LOL!
Ron Paul's ideas to replace the Fed
Freedom Works idea to replace the Fed
This post was edited on 4/29/17 at 8:35 am
Posted on 4/29/17 at 11:55 am to TigersHuskers
"You're credit is fine...Mr Trump"
Posted on 4/29/17 at 1:33 pm to Bass Tiger
quote:
And to answer your last question, I'm sure the Fed and the investment/institutional banks are operating within the law that their lawyers/lobbyists have worked doggedly for by currying favor with their favorite politicians.
What exactly in their mandate is inappropriate in your view? What about it is not in the interests of "the common man"?
I'm not even going to bother addressing the rest of that spew of yours. It'd involve teaching you freshman-level econ, like all of it, for free.
Posted on 4/29/17 at 2:18 pm to 90proofprofessional
Teach me, I'm a quick study
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