The National Forum   Donate   Your Account   On Line Opinion   Forum   Blogs   Polling   About   
The Forum - On Line Opinion's article discussion area



Syndicate
RSS/XML


RSS 2.0

Main Articles General

Sign In      Register

The Forum > General Discussion > Abraham Lincoln predicted theis economic collapse

Abraham Lincoln predicted theis economic collapse

  1. Pages:
  2. 1
  3. Page 2
  4. 3
  5. 4
  6. 5
  7. 6
  8. All
Pericles,the doubling of the money supply in the US in 8 months is a direct quote from Dr Ron Paul,the Congressman for Texas.I would not believe anything the US Federal Reserve Says ,since they are responsible for this debacle.The US Govt is currently in debt to the tune of $11 trillion or $36,000.00 per working person.

The more you defend the US Federal Res Pericles, the more suspicious I am of your motives.The US Fed is an abomination whose power must come to an end!
Posted by Arjay, Wednesday, 20 May 2009 6:50:24 PM
Find out more about this user Visit this user's webpage Recommend this comment for deletion Return to top of page Return to Forum Main Page Copy comment URL to clipboard
Arjay, this is becoming tedious and pointless.

I strongly suspect that you have absolutely no idea what you are talking about, and are simply parrotting excerpts from web sites that you don't really understand, on the gorunds that it all sounds really neat, and confirms your own malformed prejudices.

>>Pericles,the doubling of the money supply in the US in 8 months is a direct quote from Dr Ron Paul,the Congressman for Texas.I would not believe anything the US Federal Reserve Says ,since they are responsible for this debacle.<<

You may have noticed that in my last post on this topic, I gave you the courtesy of including a reference to a formal, recognized information site.

You might like to provide either a similarly authoritative source, or some reason why we should believe that the Fed is lying to us.

And if you really think that the Fed is "responsible for this debacle", then please tell us how they managed to achieve this.

It's late at night, and I'm fed up to the back teeth with trying to educate you in the concepts of economics 101.

Either put up, or shut up.

Facts. Sources. Reality.
Posted by Pericles, Wednesday, 20 May 2009 11:26:20 PM
Find out more about this user Recommend this comment for deletion Return to top of page Return to Forum Main Page Copy comment URL to clipboard
Pericles,Who provided all this inflationary money in the US.Who is in control of the US economy?What is the most fundamental pillar of economic philosophy? It is the reponsible supply of liquidity and the US Fed Res has failed on all counts.

Presently Ron Paul is trying to audit the Fed.The Fed loans all the money to the US Govt.The US Govt conjures up bonds which are really a promise to repay the loan.The $ billions in bailout money are loaned to the US people to rescue failed corporations.The fed being the distributor of money then take control of tax payer debt money.The US Congress cannot find out is,what the Fed has done with their debt money.This is why congress wants and audit.Would you give your debt money to any institution without any accountability?

The reality is this.The US treasury issues a bond,the Fed creates money not based on productivity in their computers,then loan it to the US people,who then pay interest on money that is not backed by productivity.It is akin to your neighbour stealing from you,then loaning this stolen money back and then charging you interest on stolen goods.

I don't care how bored or weary you become.This is moral injustice of the grandest proportions.If you cannot see this,then it is you who have the problem.
Posted by Arjay, Thursday, 21 May 2009 12:10:15 AM
Find out more about this user Visit this user's webpage Recommend this comment for deletion Return to top of page Return to Forum Main Page Copy comment URL to clipboard
Arjay is correct in his summary of how the Fed creates money.

Here's a reasonable summary -

http://www.chrismartenson.com/crashcourse/chapter-8-fed-money-creation

but Pericles is also correct to suggest that there's no "conspiracy".

More of an inevitability.
Posted by rache, Thursday, 21 May 2009 2:28:01 AM
Find out more about this user Recommend this comment for deletion Return to top of page Return to Forum Main Page Copy comment URL to clipboard
rache, all that your reference tells us is that governments borrow money.

They issue T-bills, which will need to be repaid.

You can describe this as "creating" money if it takes your fancy, but it is no different from you or I borrowing money that we don't have.

I am broke.

I go into a Bank. They lend me a billion bucks. They consider me a good risk, so they don't ask for collateral. I promise to pay back at some point in the future.

I have just "created" a billion bucks.

Incidentally, Arjay, it would be nice if you answered some of my questions, rather than keep avoiding them.

It's the polite thing to do.
Posted by Pericles, Thursday, 21 May 2009 6:00:17 AM
Find out more about this user Recommend this comment for deletion Return to top of page Return to Forum Main Page Copy comment URL to clipboard
Rache,
Truly inevitable, especially when you consider that the USA is bailing out it's economy by creating the money in the same way.

Most people consider normal banks to be like Money-Lenders or Loan Sharks, lending out some of the cash they hold on deposit.
Actually the Fractional Reserve Banking system we use means that they can legally loan ten times that amount by creating wealth from debt in much the same way that the US Federal Reserve does.

Deregulation and greed has allowed this to creep up to thirty times the deposit rates in some cases so we all are saddled with that virtual debt and that's partially the basis for the current crisis.

(Pericles, the money you "create" doesn't actually exist yet. It exists only as debt until repaid. If you fail to pay it back, somebody else has to. That's what happened to many mortgages in the USA and it spread through the whole Banking system).

It reflects how there are so few people actually producing real wealth in the community and must suppor a growing number who produce little or nothing, yet are paid vast sums.

The "miracle" of the wealth of Capitalism is just an illusion and a constant game of musical chairs.

This time when the music stopped, they took away more chairs than usual.
Posted by wobbles, Thursday, 21 May 2009 8:43:56 AM
Find out more about this user Recommend this comment for deletion Return to top of page Return to Forum Main Page Copy comment URL to clipboard
  1. Pages:
  2. 1
  3. Page 2
  4. 3
  5. 4
  6. 5
  7. 6
  8. All

About Us :: Search :: Discuss :: Feedback :: Legals :: Privacy