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End the Federal Reserve and I applaud Arizona...

Posted on 3/6/17 at 2:00 pm
Posted by reo45
Member since Nov 2015
6362 posts
Posted on 3/6/17 at 2:00 pm
I absolutely detest the Federal Reserve. A discussion of the Federal Reserve would be an injustice over the internet alone, so I won't bother with any discussion.

I will just post this article. This is written by Ron Paul and it speaks about what is going on in Arizona.

Last week I spoke in a post literally about this very idea--States bypassing the federal reserve allowing gold, silver, and other precious metals to be allowed as legal tender.

States can't issue notes of legal tender, but it is constitutional to allow gold and silver to be used as legal tender in states within the union. Forefathers were more clever than we may ever give them credit for.

Here is the link:

LINK
Posted by zatetic
Member since Nov 2015
5677 posts
Posted on 3/6/17 at 2:02 pm to
Utah is ahead of the game. You should look into that if you are interested in that sort of thing.
Posted by Aubie Spr96
lolwut?
Member since Dec 2009
43287 posts
Posted on 3/6/17 at 2:07 pm to
Wonder where you get new coinage?
Posted by Zephyrius
Wharton, La.
Member since Dec 2004
8625 posts
Posted on 3/6/17 at 2:14 pm to
How does paying with gold/ silver work?

Is Walmart forced to take my gold or is it up to the retailer/ service?
Posted by chongo
Member since Oct 2014
199 posts
Posted on 3/6/17 at 2:15 pm to
Yes, end the Fed. Let us place a cap on the amount of "money" in the world by tying it to an element on the periodic table. Growth is bad. Extreme volatility in the economy is wonderful for all! Death to the evil Fed!

Also, I have tinfoil hats for anyone who has a M.D. and doesn't understand financial markets and their societal utility.
Posted by reo45
Member since Nov 2015
6362 posts
Posted on 3/6/17 at 2:15 pm to
We shall see.

People own coin and bars. If someone outside the state wishes to buy something within state lines they will probably be able to settle the debt with the same principle if they wish. It isn't going to destroy the dollar, but it allows the people more freedom of choice in settling a transaction or legal debt with the government or private entity.
Posted by Helo
Orlando
Member since Nov 2004
4666 posts
Posted on 3/6/17 at 2:23 pm to
I'd rather just drive around with a refrigerated van full of pork bellys to buy my stuff.

Stop at Dillard, get a shirt = 3 pork bellys
Drop by ABC liquor for a 12 pack = 1 pork belly
Swing into the drive through at Chick-fil-a for a chicken sandwich = hand them 1 pork belly and wait for my 2 dozen eggs for change.
This post was edited on 3/6/17 at 2:24 pm
Posted by the LSUSaint
Member since Nov 2009
15444 posts
Posted on 3/6/17 at 2:25 pm to
Bitcoin brah...sounds like it's in a perfect position
Posted by reo45
Member since Nov 2015
6362 posts
Posted on 3/6/17 at 2:31 pm to
quote:

Yes, end the Fed. Let us place a cap on the amount of "money" in the world by tying it to an element on the periodic table. Growth is bad. Extreme volatility in the economy is wonderful for all! Death to the evil Fed!

Also, I have tinfoil hats for anyone who has a M.D. and doesn't understand financial markets and their societal utility.




What does a tinfoil hat have to do with money??

You ok?
Posted by reo45
Member since Nov 2015
6362 posts
Posted on 3/6/17 at 2:33 pm to
It isn't that the Fed is evil..

It is that they are unconstitutional lol..

If you disagree with that, then you can feel free to not comment as I won't say another word on the matter.
Posted by Aubie Spr96
lolwut?
Member since Dec 2009
43287 posts
Posted on 3/6/17 at 2:45 pm to
We need competing currencies. I like BitCoin, but gold and silver are good too.
Posted by CelticDog
Member since Apr 2015
42867 posts
Posted on 3/6/17 at 2:48 pm to
quote:

Bitcoin brat...sounds like it's in a perfect position


sure if you have drug money to launder. otherwise the specter of hackers looms.
when they get into your bitcoin company vault, there is no tracing them or your mythical money.
Posted by 90proofprofessional
Member since Mar 2004
24445 posts
Posted on 3/6/17 at 3:01 pm to
quote:

If you disagree with that, then you can feel free to not comment as I won't say another word on the matter

Don't mind OP, he's just throwing out a bunch of stuff that he refuses right upfront to defend.
Posted by chongo
Member since Oct 2014
199 posts
Posted on 3/6/17 at 3:11 pm to
quote:

If you disagree with that, then you can feel free to not comment as I won't say another word on the matter.


Nah, bruh. I'm super stoked. I finally have somewhere to spend all the gold schmeckles I've been burying in various locations. What is one gold schmeckle worth though? I say 500 blueberries. That should be the standard. 1 gold schmeckle=500 blueberries. Everything else can sort itself out.
Posted by chickenpotpie
Member since Aug 2013
1161 posts
Posted on 3/6/17 at 3:14 pm to
The Federal Reserve is a private corporation. A private entity should not be in control of our nation's economy with the ability to crash it whenever they choose.

Every dollar printed has attached debt. Our nation should not have to go in debt to private bankers to print money.

The Federal Reserve is not a good thing. The shady methods that had to be used to pass the act clearly indicate that it was not popular with the majority.
Posted by MrCarton
Paradise Valley, MT
Member since Dec 2009
20231 posts
Posted on 3/6/17 at 3:15 pm to
quote:

Nah, bruh. I'm super stoked. I finally have somewhere to spend all the gold schmeckles I've been burying in various locations. What is one gold schmeckle worth though? I say 500 blueberries. That should be the standard. 1 gold schmeckle=500 blueberries. Everything else can sort itself out.



This is probably the dumbest argument I've heard against competing currencies cryoto currency, or metal based currency. So. fricking. dumb.
Posted by chongo
Member since Oct 2014
199 posts
Posted on 3/6/17 at 3:28 pm to
quote:

The Federal Reserve is a private corporation. A private entity should not be in control of our nation's economy with the ability to crash it whenever they choose.


Why? Would you rather a public entity? Government works so well already, lets let them control our money supply too? Is that what you're arguing??? Or would you rather live in an anarchic environment with no controls on the money supply. Create a finite money supply with no central entity governing interest rates so when there is a credit crunch all the banks dry up. Runs on banks are a good thing, right?

Also, calling the Fed a corporation is hilarious. You obviously have no understanding of legal business relationships. It's more akin to an LP, with the member banks acting as limited partners and the Gubment acting as the general partner.
Posted by ZappBrannigan
Member since Jun 2015
7692 posts
Posted on 3/6/17 at 3:53 pm to
I'll bite, since this always thrown around in these threads. Why is the Federal Reserve unconstitutional?

I'm not debating if it is or isn't I just want to see into mouth of madness.
Posted by chongo
Member since Oct 2014
199 posts
Posted on 3/6/17 at 4:07 pm to
quote:

I'll bite, since this always thrown around in these threads. Why is the Federal Reserve unconstitutional?


So the general theory from Fed detractors is Ar. I Sec. 8 gives Congress the power "[t]o coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures." The Fed doesn't do this directly, the Treasury does. The Treasury prints the money and then sells it to Fed. The issue of a national bank was settled in 1819, 100 years before the creation of the Federal Reserve, in McCulloch v. Maryland. People who argue that the Fed is unconstitutional have some combination of the following: they didn't go to law school, they failed their ConLaw exam, or they are just plain stupid.

Edit: decided to look at the Fed's balance sheet and income statement. I'm sure everyone knows this, but they are nonprofit, so any money they generate goes to offset Gubment spending. Last year the Fed made $92 Bil, $100 Bil the year before. For comparison, Apple, the most profitable company in the world made $53 Bil in 2015. All that Fed money goes to Gubment spending which offsets your tax bill indirectly. Death to this profitable money machine!!! Literally the most profitable "company" in the world... Let's kill it dead.
This post was edited on 3/6/17 at 4:29 pm
Posted by HempHead
Big Sky Country
Member since Mar 2011
56314 posts
Posted on 3/6/17 at 4:21 pm to
quote:

when they get into your bitcoin company vault, there is no tracing them or your mythical money.



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