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  1. #1
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    The "Federal" Reserve. Say what?

    The "Federal" Reserve is not actually owned by our government, it's just private bank, which we are most dependant on? This does NOT sound stable, or right:

    "Its primary responsibility is to maintain the stability of the national currency and money supply, but more active duties include controlling subsidized-loan interest rates, and acting as a lender of last resort to the banking sector during times of financial crisis (private banks often being integral to the national financial system). It may also have supervisory powers, to ensure that banks and other financial institutions do not behave recklessly or fraudulently." -Wiki.

    Thomas Jefferson, letter to secretary of treasury 1802:
    "I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."

    That sounds familiar.. Can someone explain to me how the fuck any of this works?


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  3. #2
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    It doesn't work, where have you been for the past year?
    "Astronomy offers an aesthetic indulgence not duplicated in any other field. This is not an academic or hypothetical attraction and should require no apologies, for the beauty to be found in the skies has been universally appreciated for unrecorded centuries."

  4. #3
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    Quote Originally Posted by BuckWeisel View Post
    It doesn't work, where have you been for the past year?
    Not paying attention obviously, lol. I just don't understand why we're not revolting against this control.. I want to fuck some politicians/bankers up right about now.

  5. #4
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    "Fed Reserve to be given sweeping powers”
    In other words, USA Pwned by Fed Reserve.
    “The plan is aimed to streamline and consolidate banking and securities regulation in one or two agencies —
    now is expected to sidestep most jurisdictional disputes and simply
    impose across the board standards to be applied by all financial regulators, according to administration and industry sources, ”
    The Washington Times-
    It seems, the Fed, which is already totally unaccountable to Congress, is to be placed in
    complete control of the entirety of the
    US financial system, to do as it pleases, without repercussion.
    As the LA Times reports, the government, in conjunction with the private Federal Reserve, would effectively have the clout to simply
    seize and take over any company it desires.
    The “heads” of nine of the biggest banks in the derivatives market, including JP Morgan Chase, Goldman Sachs, Citigroup and Bank of America, secretly lobbied
    to keep derivatives under Federal Reserve “oversight” and away from real scrutiny.
    The NY Times-
    "And the banks -- hard to believe in a time when we're facing a banking crisis that many of the banks created -- are still the most powerful lobby on Capitol Hill.
    And they frankly own the place," -Sen. Dick Durbin (D-Ill.)
    This is the same privately run entity that refused to comply with congressional demands for transparency and disclose the destination of
    Trillions of dollars in “bailout” funds.
    Bloomberg-
    It is the same privately owned entity that has withheld internal memos,
    in spite of freedom of information act requests. It is the same private entity, run for the most part by European banking elites, that has
    arrogantly refused to tell Senators and Congressmen which banks were in receipt of government loans.
    Bernanke is worried that the citizens of the U.S.A. will demand a Fed Reserve Audit.
    HR 1207's companion bill is in the Senate, S 604 The Federal Reserve Sunshine act
    Ron Paul's Campaign For Liberty has since reported that Sen. Jim DeMint (R-SC) has become the first cosponsor of S 604.
    Without support for S 604, the Senate may be able to block HR 1207 and other legislation seeking to audit the Fed
    The key Senators to pressure on this bill are:
    Kay Hutchison (R - TX) 202-224-5922 (on the Senate Banking Committee)
    Robert Bennett (R - UT) (202) 224-5444 (on the Senate Banking Committee)

    Other Senators on the Banking Committee can be found here:


    Use this site to contact your reps:

    List of all senators & contact information:
    If passed, HR1207 will ensure that the Fed make public the destination of the trillions in taxpayer “loans” that have been simply handed over to private banks without oversight.
    Last edited by Mebiusu; July 1st, 2009 at 05:39 AM.

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  7. #5
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    bernanke says if audited it would cause complete economic colapse for the US

    wooo ! err ;/

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    'Zeitgeist, The Movie' and 'Zeitgeist: Addendum' were created as Not-for-Profit expressions
    to communicate what the author felt were highly important social understandings which
    most humans are generally not aware of. The first film focuses on suppressed
    historical & modern information about currently dominant social institutions, while
    also exploring what could be in store for humanity if the power structures at large continue
    their patterns of self-interest, corruption, and consolidation.

    The second film, Zeitgeist: Addendum, attempts to locate the root causes
    of this pervasive social corruption, while offering a solution. This solution is not
    based on politics, morality, laws, or any other "establishment" notions of human affairs,
    but rather on a modern, non-superstitious based understanding of what we are
    and how we align with nature, to which we are a part. The work advocates
    a new social system which is updated to present day knowledge, highly influenced
    by the life long work of Jacque Fresco and The Venus Project.

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  10. #7
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    Quote Originally Posted by Edward Cherniga View Post
    Kay Hutchison (R - TX) 202-224-5922 (on the Senate Banking Committee)
    Robert Bennett (R - UT) (202) 224-5444 (on the Senate Banking Committee)
    Actually this falls to Barney Frank. A LOT of this mess falls to Barney Frank. Last time I checked he was sitting on the bill... and demanding TARP funds, and bullied banks into giving loans, and was hustling auto makers, etc.

    I'm glad some people in the MSN are finally starting to really talk about it. It's been a long time coming that everyone should know how the economy can be manipulated in such an adverse way. But MSN and polarized political fanaticism play a strange dynamics when it comes to what would seem like common sense.

    I want the fed audited, but am keeping my eyes on Cap & Trade a lot more.
    5 states make generate over 40% of our GDP. The most stable of these being Texas. Due to it's abundance of natural gases, oil, biomedic research, IT, and lack of blowing up housing prices; It's stayed and can stay above water. But, Cap and Trade's crony capitalism*key words is crony* can do serious harm to this.

    If anything, as bad as it would be in a recession; I think a flat carbon tax would be fine. It won't do anything for the environment (Cap & Trade would do even less) and it certainly won't help us except hopefully using less oil from the Mid East. Virtually everything would rise in price and that not what we need right now.

    Multiple front battle to get things back in order. Over-spending, the inevitable onset of inflation, cronyism, deals on the house floor, etc.

    Quote Originally Posted by seth1 View Post



    'Zeitgeist, The Movie' and 'Zeitgeist: Addendum' were created as Not-for-Profit expressions
    to communicate what the author felt were highly important social understandings which
    most humans are generally not aware of. The first film focuses on suppressed
    historical & modern information about currently dominant social institutions, while
    also exploring what could be in store for humanity if the power structures at large continue
    their patterns of self-interest, corruption, and consolidation.

    The second film, Zeitgeist: Addendum, attempts to locate the root causes
    of this pervasive social corruption, while offering a solution. This solution is not
    based on politics, morality, laws, or any other "establishment" notions of human affairs,
    but rather on a modern, non-superstitious based understanding of what we are
    and how we align with nature, to which we are a part. The work advocates
    a new social system which is updated to present day knowledge, highly influenced
    by the life long work of Jacque Fresco and The Venus Project.
    *sigh*
    Can we stick to facts and evidence vice speculation and cult movies?

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  12. #8
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    WAIT.. I thought this was common knowledge since... it was initiated?

    I mean, I'm not even from the states.

  13. #9
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    The "Federal" Reserve is not actually owned by our government, it's just private bank, which we are most dependant on? This does NOT sound stable, or right:
    This isn't true. The Fed is a government institution, not a private bank.

    And if it doesn't work, then it's been doing a poor job of failing over the last ~100 years.
    Last edited by Elam; July 1st, 2009 at 11:27 AM.

  14. #10
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    Quote Originally Posted by Elam View Post
    And if it doesn't work, then it's been doing a poor job of failing over the last ~100 years.
    http://en.wikipedia.org/wiki/Economic_bubble
    http://en.wikipedia.org/wiki/Real_estate_bubble
    http://en.wikipedia.org/wiki/Boom_and_bust
    http://en.wikipedia.org/wiki/Financial_crisis
    # Panic of 1819 - pervasive USA economic recession w/ bank failures; culmination of U.S.'s 1st boom-to-bust economic cycle
    # Panic of 1825 - pervasive British economic recession in which many British banks failed, & Bank of England nearly failed
    # Panic of 1837 - pervasive USA economic recession w/ bank failures; a 5 yr depression ensued
    # Panic of 1857 - pervasive USA economic recession w/ bank failures
    # Panic of 1873 - pervasive USA economic recession w/ bank failures, known then as the 5 yr Great Depression & now as the Long Depression
    # Panic of 1893 - pervasive USA economic recession w/ bank failures
    # Panic of 1901 - limited to crashing of the New York Stock Exchange
    # Panic of 1907 - pervasive USA economic recession w/ bank failures
    http://http://en.wikipedia.org/wiki/Bank_run
    http://en.wikipedia.org/wiki/List_of..._United_States
    http://en.wikipedia.org/wiki/Great_D..._United_States
    "Astronomy offers an aesthetic indulgence not duplicated in any other field. This is not an academic or hypothetical attraction and should require no apologies, for the beauty to be found in the skies has been universally appreciated for unrecorded centuries."

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  16. #11
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    Gee, you mean you have ups and downs? Life isn't perfect? Who knew.

    Since your clearly too lazy to click and read, the current Fed was set up after most of the recessions/panics you posted and was in fact was set up in response to those.

    Regardless, the overall graph trends upward, ergo, it's been pretty successful.

  17. #12
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    It's a funny bunny.

    Not only that, if they opened up the vault and gave away all the diamonds in reserve away everyone in the world would own a few but they would be worthless.

    But why then do they still dig these massive holes in the earth where trucks turn into dinky toy's is beyond me. Job creation?
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    Scetchbook: View the exhibitionist's stuff.

  18. #13
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    It is quasi-public and quasi-private. It is both, and neither. Not everything can be painted in pure blacks and whites, no matter how much we may feel compelled to try.

    The Fed existed in the nineties during that time of supposed deregulation that allegedly caused all this trouble. Interesting that people still think we can build a regulation so big that no crisis can surmount it. They must have gone to the same school that taught those government dike building guys. I wouldn't bank on the Fed being able to solve our way out of this economy (pun used knowingly).

  19. #14
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    well the various lobbys and the fed reserve bank and similair institutions around the globe are obviously doing a good job convincing people they're useful and represent the interests of the people... *sigh*

    Quote Originally Posted by Elam View Post
    Regardless, the overall graph trends upward, ergo, it's been pretty successful.
    upwards for whom?

  20. #15
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    Quote Originally Posted by Elam View Post
    Gee, you mean you have ups and downs? Life isn't perfect? Who knew.

    Since your clearly too lazy to click and read, the current Fed was set up after most of the recessions/panics you posted and was in fact was set up in response to those.

    Regardless, the overall graph trends upward, ergo, it's been pretty successful.
    I've read the FRA article. 1913.

    So because there was a greater length of time before the FRA than between 1913 and now means that it's working? You can't say that there are less recessions after it because there's not enough data yet.

    The economy is on a bubble system. Bubbles expand until they burst, then they start expanding again. When's the last bubble that burst? Yeah, 2008. So no, the FRA hasn't taken care of shit. Failing is still built into the economy. We will magically climb out of the hole we're in now and then bubbles will burst again.

    You know what other graph has gradually risen? National debt. Yep things are looking up for sure.
    "Astronomy offers an aesthetic indulgence not duplicated in any other field. This is not an academic or hypothetical attraction and should require no apologies, for the beauty to be found in the skies has been universally appreciated for unrecorded centuries."

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