"""
And the continuing ignorance of the fractional reserve system is, frankly, frightening.
"""

Could that continuing ignorance stem from the American Federal reserve and its supposed fraudulent practices. Some think their ability to print money at will so to speak is akin to government sanctioned counterfeiting, which effectively pushes up inflation, lowing the value of peoples money, which they consider a form of theft.

Some would argue it's necessary, but is it fair? The Fed seems to do quite well out of it at the expense of everyone elses hard work.

There's no doubt in peoples minds that money shufflers make plenty without really doing it tough and contributing to societies benefit.
In fact it's got so out of control, they've shifted all the worlds money into the hands of a few, which is now why so many are complaining and feeling hard done by. Are they wrong to feel that way?

It seems to me that alot of people are confused by the many kinds
of "banks".

We have merchant or investment banks, then reserve banks and then
your vanilla kind of deposit taking institutions. They really
all play quite different roles.

The role of reserve banks is designed to keep them at arms length
from political pork barreling, which could easily happen if
politicians directly controlled the printing presses. Their mandate
is to keep economies ticking along as best as possible, no matter
what political disasters are happening at the time.Any profits which
they make, are finally returned to Govt treasuries.

To cut a long story short, the US Fed faced a similar situation as
to that now being faced by the ECB. If you play the whole scenarios
out, either you print money or you face a depression. IMHO the
ECB, will keep kicking the can down the road for some more months,
until they finally face the inevitable and do just what the Fed did,
ie print money, as its the easier option all round.

So what do you think they should do RawMustard, of the two options?

It is ok to have an opinion of your own, RawMustard.

>>...the American Federal reserve and its supposed fraudulent practices...<<

Do you suppose they are "fraudulent practices" Or is that your way of saying "I saw somewhere, someone said..."?

>>Some think their ability to print money at will so to speak is akin to government sanctioned counterfeiting<<

Who are the "some" that you talk about? And do you yourself believe it is "sanctioned counterfeiting", or is that just a phrase that sounded good to you?

>>...they consider a form of theft<<

Who are "they"? And do you personally believe that inflation is a "form of theft", or is it just another sound-bite-cum-cliché?

>>Some would argue it's necessary, but is it fair?<<

It's those "some" again. Is that "some of us" or "some of them"? What constitutes "fair" in this context?

>>There's no doubt in peoples minds that money shufflers make plenty without really doing it tough...<<

Which "people"? And just how relevant is "doing it tough"?

>>...so many are complaining and feeling hard done by<<

What about you? How do you feel "hard done by", and by whom?

I wouldn't normally bother, but your post is riddled with half-truths, veiled accusations and innuendo, to the point where it becomes nothing more than a cut'n'paste moan-fest.

Are you by any chance a journalist?

I was asking genuine questions. I don't have all the answers to the worlds financial woes and as you said, we're all entitled to our own opinion.

"""
Do you suppose they are "fraudulent practices"

@ Yabby So what of the two options?
"""

To my way of thinking, I'd let the dice roll and see where it lands, the Fed uses a loaded dice, you do the math!

"""
Who are the "some"?... And do you yourself believe it is "sanctioned counterfeiting"
"""

We are the some, Pericles, as well as some politicians and economists!
What do you call quantitative easing(Short for "print money out of thin air") Why is counterfeiting illegal, Pericles? Why is it ok for a private corp to do it?

"""
And do you personally believe that inflation is a "form of theft?
"""

Well isn't it? If I have a 100 cents in my pocket and you take 75 of them without my knowing, it's call pick pocketing(theft).
If you print money out of thin air and devalue my 100 cents to 25. I'm in the same boat, I only have 25 cents, 75 of which I didn't spend. Call it what you want, I call it government sanctioned theft!

"""
"some" again. What constitutes "fair" in this context?
"""

Pffft, waist of CO2, another theft!

"""
Which "people"? And just how relevant is "doing it tough"?
"""

Are you honestly going to tell me money shufflers do it tough? Those that got it because they were bred from sacred sperm?

"""
What about you? How do you feel "hard done by"
"""

Don't feel hard done by at all, quite content actually, but always thinking it didn't need to be as hard as it was to get somewhere and am a bit sick and tired off giving it to those who don't deserve it!

"""
I wouldn't normally bother...
"""

Well you're certainly entitled to your own opinion :)
But it would seem I hit a raw nerve, Pericles?

"""
Are you by any chance a journalist?
"""

Are you a money shuffler?

Just out of interest, Pericles. If you're up to it, could you give us all ("in your opinion") a rundown of this interview?

Ron Paul's Greatest Interview - Gold & Silver With Mike Maloney.
http://www.youtube.com/watch?v=q3SOlXxUBLk

Do you have a transcript?

>>Just out of interest, Pericles. If you're up to it, could you give us all ("in your opinion") a rundown of this interview?<<

Forty minutes on YouTube with Ron Paul is for rusted-on Austrian school fanbois only, I'm afraid.

But - just out of interest - which one of his wacky ideas appeals to you most?