Timothy Geithner to be named Treasury Sec

VINNY GOOMBA

pearljamfan1212 wrote:

I have yet to here of a viable alternative to the Fed. in other words, what would our economy look like with no Federal Reserve. care to elaborate?

The world without the Fed? Picture unicorns, sun, and rainbows all the time!!!

Well, for starters we'd have to return to a commodity based system backing our money. Some say silver more than gold, since so much of our gold is in the hands of these foreign bankers already. Either way, hard-backing our money only allows so much of it to be in circulation, and controls inflation. The Fed was brought in to stablilize prices and control inflation, and look what has happened-- since their inception, our dollar has lost 98% of it's value.

What do you expect from a BANK that controls our government? Is this not the biggest scam going?: I'm the Fed, I create money out of nothing and loan it to you, but it still acts as legal tender. I just gave you AIR, a piece of toilet paper, something of absolutely no worth-- but it acts as legal tender, to start up a business or buy a car, or whatever else. When you pay me back, aren't you paying me back with money you have earned, or in a really bad case, say if your business fails, out of your savings? Have I not just traded you AIR for actual money that you worked for? Are you not my slave at this point? Even if I lent you $100,000 and you could only pay me back $10,000, did I not just make $10,000, and maybe even seized your business? Remember, I really only gave you NOTHING to begin with!

It's no secret then, that the FED encourages spending beyond our means-- on war, welfare, BAILOUTS, whatever! They can't lose either way! In the end, they just gain control by stealing real wealth, and pretty much putting a nation in debt to them. Who's to say that this ISN'T how they are able to dictate both our foreign and domestic policies? That they even "buy" the right to make such policies, which again, encourage even more spending.

Politicians choose to borrow, rather than directly tax so they remain popular--but borrowing is just an indirect tax! It will be paid later, with interest! Who's to say that an organization that isn't audited, or regulated by any means, and can legally counterfeit all they want aren't paying off politicians "under the table" to keep such a system afloat. I mean, really, how could you catch them doing it. THEY ARE NOT AUDITED.

Also, this fractional reserve banking system created by the Fed needs to reform. Maybe factional reserve banking would be ok if the fraction was a lot LARGER. Instead of banks being to able to loan out 9 times what they actually have, maybe it should be only twice what they actually have? If banks are allowed to loan out 9 times the amount of money they have, and any amount of those loans are bad, are the banks not ALWAYS bankrupt themselves? When you think of the money that they don't have as a result of too many loans, and consider that some of those loans could be really BAD, banks are always in a precarious situation, aren't they? OR, Full reserve banking should be considered-- I know what you're thinking, that system would never work. Imagine a bank only being able to loan out what they have in reserve? Nobody would be able to get loans-- or very few anyway. Credit would really be pretty rare wouldn't it?

It's a crazy idea, but maybe that's how it's all supposed to be! Not being a slave to credit. When you buy things, YOU OWN THEM, with no strings attached. There was a time, not too long ago where prices weren't so incredibly inflated that people were actually able to take out PRIVATE mortgages on their houses! My parents did it, and it worked great for them... No closing fees, and other bullshit that comes with going through the bank.

The Fed, especially in it's current state is out of control-- They are recklessly inflating our dollar, and therefore indirectly taxing us with this inflation. And keep in mind, this is taxation without representation-- we have no say who's in the Fed, nor can we be shareholders of it.

So you want a solution? Go back to Congress and the Treasury regulating the money supply. That's how the Constitution called for it, and we at least have some say in the matter that way. Currency is backed by gold and or silver, to save us from the vicious tax of inflation. The Congress is far from perfect, but if we'd pull our head out of our asses a little, we could pressure them to act with our needs in mind-- unlike the Fed. The Federal Reserve is so legally detached from the people, that it doesn't matter what they what they do-- they are untouchable-- until they are removed altogether. Congress is seemingly untouchable, but it really, really isn't that way. Again, we just need to wake up, and start caring about controlling the country again. I firmly believe enough people are getting pissed off at this point, that we will see a peaceful revolution of sorts.

If nothing else... Even if in some universe, fiat money WAS a good idea, then why not just give the power directly to Congress or the Treasury to print money as they see fit and NOT CHARGE US INTEREST TO DO SO, as the Fed does. It would be like the current system except the bankers would not be in control. We the people would be in control (if we ever choose to be again), and we wouldn't be racking up interest payments on top of an currency that keeps losing value from inflation.

So in summary, of that last "solution" that could definitely replace the Fed: Congress and Treasury print Fiat Money as they see fit = Inflation (that we will pay for, BUT, we will actually have some say in who these people are, who choose to inflate our money)
Fed prints Fiat Money as they see fit = Inflation with interest attached (that we will pay for also, and we have no say in the matter).

Although, not a great idea, it is definitely better than the current system. I feel that the people of this country deserve a lot better, and should go back to a Constiutional system of money.

pearljamfan1212

thanks Vinny. I like that answer alot better then fuck the fed!!! the fed sucks!!! aahhhhh!! not imitating you personally but thats a typical response from a ron paulite.

VINNY GOOMBA

pearljamfan1212 wrote:

What would our economy look like with no Federal Reserve?

Well taxes would be a lot lower, just in the simple fact that there will be no interest to bankers attached to our taxes.

Wars, perhaps the most profitable enterprise of the Central Bank may even start to disappear. I don't think we'll ever see a world without war-- but we should see less of them. Someone will always find a way to make them happen and profit off of them. At least with Central Banks gone, the people with ALL of the money, and the power to create as much of it as they want will no longer exist.

Less wars would definitely equal less spending. Our country has enough weapons to destroy the world 10 times over. If we cut our military spending to stricly base maintenance and military salaries, We could save a boatload on defense spending, and make huge strides in chipping away at our debt.

We may see a rennaissance with regards to our stance on credit. We might spend less and save more, and see true prosperity-- not the false prosperity of a whole nation riding a wave of credit that is ready to crash and cause a tsunami.

We may encourage other countries in the world to use their own sovereign power to do the same, and help themselves out.

I think the more you look into this problem, that not only is it a problem, but it is THE PROBLEM. I know it all sounds like a big fairy tale, but I believe that we are maybe a million or 2 million awakened minds away from fixing the problem-- and how will it be done? It will be done on an election year, a month or 2 before November, we should all vote based on this issue as the main focus when we head to the polls. This isn't pro life or pro choice, this is liberty or tyranny for those who are here now, and those who will be born in the future. We can sort out those other major issues later once we free those who are here and breathing right now.

I think that is the bare minimum you will see by eliminating the Fed.

Ideally:

You may even see NO FEDERAL INCOME TAXES, or a more fair tax system-- if our government isn't encouraged to spend, we may actually save. If we save enough, our taxes may exist only at more local levels, and where things are more manageable. And if you don't like how your state, county, or town, is doing things-- move!

It's all so close, yet so far!

VINNY GOOMBA

pearljamfan1212 wrote:

thanks Vinny. I like that answer alot better then fuck the fed!!! the fed sucks!!! aahhhhh!! not imitating you personally but thats a typical response from a ron paulite.

I hear you 110%. This stuff tends to consume people like me-- we get worked up very easily, as we know that it is going to take sheer numbers, and numbers alone to make the change that we not only feel is good, but NECESSARY, before we really have the rugged pulled out from under us all. If I've even got you considering what I've said, then I've done the job a lot of other "Paulites" want to do, but end up losing people in their passion

I went to an End the Fed rally this weekend-- first time I've ever protested, and I have to say, it was a great feeling. It was pretty incredible how receptive a lot of people were to this idea-- everyone knows something is up right now, but the majority can't put their finger on it-- they're looking for answers to why we have this financial crisis. The can't be put squarely on the Fed, but if you do your homework, I think you'll find that you could attribute 90% of it to their very existence.

Of all the times I've seen people stand on the streets in the city, and saw people handing pamphlets to others, I don't think I've ever seen what I saw this past weekend-- People actually stopped dead in their tracks reading information about Ending the Fed-- usually, it's straight to the garbage can with this kind of stuff.

If not 2010, then 2012, if we all work hard enough, and do not scare away people like yourself with fits of anger, this should become a major issue in our upcoming elections.