Pericles "How is the Fed responsible for this economic debacle?" This is what I've been rabbiting on about in all my posts.It is the creation on inflationaary debt money,that cause the share market to feed off itself and also cause the over inflated values of property.

I cannnot help those who refuse to understand and can only assume that there are personal interest agenda's here.There are a minority of people who have and are still making a fortune off the creation of legalised counterfeit money by our banking system.

The creation of money in computers dilutes the wealth of the rest of society.This is why counterfeiting is illegal.During WW2 countries actually dropped plane loads of cash on each others cities in order to ruin their economies.The only difference today is that the Fed does it relatively slowly but nearly always surrepticiously.

Inflationary money destroys economies but perverting their true productive capacity.There is the real economy in which ordinary folk produce by having a job and the casino called the sharemarket fuelled by excess worthless money.

Arjay, you are starting to scrape the bottom of the barrel.

Let's start with this piece of nonsense.

>>During WW2 countries actually dropped plane loads of cash on each others cities in order to ruin their economies.<<

This did not happen.

For any number of reasons, it would be a fantastically stupid thing to do. You'd ruin your own economy before having the slightest impact on the target country. Just think how much you'd need to raise in order to have any impact.

Go check your sources again, if you have any.

Ludicrous.

And on this occasion, have the courage to admit you are wrong, instead of simply walking away as you did when I challenged your "doubling of the money supply in eight months" canard.

>>inflationaary debt money,that cause the share market to feed off itself and also cause the over inflated values of property.<<

As I have already pointed out, everyone agrees that the lending of money to people who could not afford the repayments, coupled with the Bankers' zeal to package these into derivative instruments until their underlying value was obscured, was wrong, and should have been prevented by better governance.

But what makes you think that it is the Fed that is holding the smoking gun?

The creation of debt, as I have explained on any number of occasions, is a bottom-up thing. You seem to believe that it is fairy dust, that is somehow poured into the top, and finds its way down the line. The reality is exactly the opposite.

Could the Fed have done more to slow down the excesses? Quite possibly.

But running off at the mouth that it is "akin to your neighbour stealing from you,then loaning this stolen money back and then charging you interest on stolen goods" is grasping the wrong end of the stick with such precision, as to be comical.

Try using facts for a change.

Do some research. Learn about the basic economics of money. Provide references for your claims and theories.

Otherwise they will remain as they are right now. Wild-eyed fantasies masquerading as drama.

As I said before Pericles,you like many others have been making easy money on the back of real productive capacity.Congressman Dr Ron Paul now has 175 members of Congress backing his bill HR 1207 to audit the US Federal Resreve.This has grown from 55 within 2 months.Soon the audit will reveal the perversions of this abomination of a banking system.

Your moral compass is buried deep beneath your banking shares.

Once again, Arjay, you demonstrate the paucity of your ideas by resorting to slogans and speculation.

>>you like many others have been making easy money on the back of real productive capacity<<

I have simply been presenting you with facts and reality, now you have nothing left except snide remarks and baseless innuendo.

As it happens Arjay, you and I have probably benefitted absolutely equally from the boom times, and will be discomifted equally by the present problems.

>>Congressman Dr Ron Paul now has 175 members of Congress backing his bill HR 1207 to audit the US Federal Resreve<<

Errr - wasn't this the guy who supports your assertion that "The amount of money in the US has doubled in 8 months"?

Could you now point to the evidence?

Do you - or does he - actually present any?

I don't particularly have a problem with an audit of the Fed, except that it will make some sleazebucket accountant several tens of millions of dollars in fees.

But if you are looking for that smoking gun, you won't find it there.

>>Your moral compass is buried deep beneath your banking shares<<

That is actually an insult, Arjay, so I shall respond in kind.

Your momma... no, sorry, wrong script.

Your knowledge of banking systems, how the economy works, and how money is created and accounted for, could be engraved on the head of a pin with a pneumatic drill.

But I suppose I can't blame you entirely. It is probably extremely difficult to hold an intelligent conversation with anyone, when you talk from so far inside your own arsehole.

Arjay, I know that you don't want to hear it, but Pericles is
correct about money, the banking system and how it functions.

It seems to me that many of the lay public have false perceptions
about how the whole thing works, so they jump to all these
conspiracy theories.

I've just been sitting by the fire, rereading sections of an
Economics textbook from the late 80s, that I once picked up at a
sale. You can usually buy them from University bookshops etc.

Quite interesting, I was not aware that in the 19th century
American banks used to print their own bank notes, which was
derived from the old goldsmiths deposit notes.

Anyhow, you seem interested in the subject, so why not buy a book
and educate yourself? University textbooks are great for explaining
these things, because many of the graduates are not the brightest,
so they are written in a language that we can all understand.

At the moment, you are simply shooting the messenger

So the brightest like the Ben Bernanke the present Chairman of the Fed and the Godfather Alan Greenspan had it is right?Give me a break.Their medicine is more of the same.More borrowing,more debt for both the US people and us.How could anyone back an international banking cartel that has so much power that our Govts bow to their every wish?

The revolution has begun and a new monetary sysetm will rise from the ashes which will see a fairer society released from the chains of debt created by theft of the commonwealth.Ron Paul is no communist.He believes in small Govt individual freedom and the operation of the free market.