Forum Post: For all those advocating to end the Federal Reserve...
Posted 12 years ago on Oct. 14, 2011, 6:09 p.m. EST by Lork
(285)
This content is user submitted and not an official statement
...please read these links.
Supervision and Regulation - (also covers Acquisitions and Mergers)
http://www.federalreserve.gov/pf/pdf/pf_5.pdf
Consumer and Community Affairs - (See - Consumer Protection)
http://www.federalreserve.gov/pf/pdf/pf_6.pdf
The Federal Reserve in the US Payments System - (See - Financial and Fiscal Agency Serices)
http://www.federalreserve.gov/pf/pdf/pf_7.pdf
Wen need to TAKE BACK the FED not abolish it. Abolishing it would be as stupid as blaming government rather than Wall St.
Wall St = The Shooter
Govt and FED = The gun
Buttfuck Policies and corruption = The Bullet
Get it right guys!
Thank you thank you thank you. There's a reason Texas oilmen want to abolish the fed. The central bank was created to deal with all of the collateral damage the real economy felt from the numerous banking crises during the late nineteenth century and early twentieth. The Fed might sleep too close to wall street, but they provide a valuable function to main street
I haven't gotten to many people here - (one person even downright condescended me...and then linked me to some conspiracy video) but maybe this will make people think some more.
The problem becomes - The FED is DEFINITELY corrupt. We can't deny that.
The hard part is - How do we clean the FED?
for that matter, all of the regional fed banks. it's just that the NY Fed has a seat at all fomc meetings and is thus the most powerful regional fed bank
Let's change the way the NY Fed is structured. We really shouldn't have heads of private institutions, whether banks, unions, or universities, in leadership positions at the Fed. The Fed also needs to have stricter rules about communications with those who work for private financial instituions
Yes! Let's do this!
Yeah! someone else who realizes that a central bank has progressive origins as a response to the gold standard policy during Gilded Age!
Please don't end the Fed. That would bring us backwards.
word to that. you got it right man.
Nationalize the Fed!
lol
Well said, thank you! People need to look a little bit deeper into how the economy works before just calling for abolishing the Fed... this is in line with throwing out the baby with the bathwater. Reform, not insanity please.
If you do remove the rights of the fed to establish the value of the currency through Wall Street than they can still print our currency as long as they want to.
Agreed! Thank you! The Fed should NOT be abolished. It performs currency control and oversees stabilizing monetary policy. However it is corrupt.
I propose demanding the Federal Reserve to be audited quarterly and demand to nationalize it or convert it into a non-profit entity.
What we also need to be discussing as a people is what we are going to fill the void with once the Phed is done away with. Keep posting, you did an awesome job, keep up the good work!
http://occupywallst.org/forum/are-we-sure-we-want-a-revolution/
Please, PLEASE let us not fracture this movement with a fed fight.
Too late.
I posted this because a lot of people were saying that the OWS supports "ending the FED".
Take back the fed? The whole point of the Fed is that it was an arbitrary central bank, apart from the people, to begin with! We never had it!
Yeah it's not that easy I know.
But do you really want a repeat of this -
http://en.wikipedia.org/wiki/Panic_of_1907
That being said - they ARE corrupt.
I'm ok with bank runs. Keeps people honest.
http://occupywallst.org/forum/remember-the-progressive-origins-of-the-federal-re/#comment-101484
I am a fan http://en.wikipedia.org/wiki/Moral_hazard
I beg to disagree, it should be abolished because all these miseries happened when the Fed was established. US Federal Reserve Bank is a misnomer and a deception even in its name. US - First it is not a US entity, it is owned by the richest individuals mostly from Europe and a few from America which includes the Rockefellers. Federal again it is not Federal because it is not a government entity, it is private. Reserve - it does not have any reserves. It screws us through cheating by creating money out of nothing. Lastly, Bank - it is not a bank.
if you want something similar to Federal Reserve with Central Bank like powers then a new entity owned by a government should be established so it will work for the good of the public and not for the benefit of the few elite people who owns it.
Another thing, we should go back to the gold standard.
Since we moved off from the gold standard all these economic evils began to take place. Gold is the only form of money which cannot be easily manipulated by the government in a way they can with fiat currency (paper money).
You did not read my post. I said TAKE BACK. Not ABOLISH. The FED is there to stop people like George Soros (shortselling the pound) -
http://www.stock-investment-made-easy.com/george-soros.html
Ironically enough...well you know. xD
I agree. The Fed is not the problem just some stupid slogan Ron Paul supporters have without thinking about the implications it may have.
THE FED IS NOT THE PROBLEM????? Are you serious? You obviously know nothing about the fed or Ron Paul for that matter. Who do you support for president?
Agree w/ TR289. End the Fed means to change the way money works. We need to completely abolish our debt-based currency system and eliminate fractional reserve FIAT currency and compounding interest. Until we do that, we accomplish nothing.
http://www.collapsenet.com/154.html
The End the Fed people have an ulterior motive. End the Fed is code word for changing the monetary system to a commodity based system of some sort.
I'm not disagreeing with any one that say's the Fed is corrupt and needs to be fixed. You just have to be careful of these misleading slogans designed to do exactly that , mislead you.
There is no need for a commodity based system of any sort its called the gold standard the government can only print the amount of money they have hard currency to back. No more imaginary debt based monetary system. As it is now every time the government needs money they ask the Fed, Which is a private bank not a government agency, the fed then tell our U.S. department of treasury to go ahead and print X- amount of money. They then give it to the government to spend and collect interest on it which is how they make their money. But the money they print is not even theirs its ours. They are a for profit financial institution which all the forefathers warned us against. Yet here we are with the uneducated people claiming we need it... For what to manipulate or economy. Because when you control the currency you can make boom/ bust cycles which you can profit off of tremendously. This is all simplified version of course but you get the idea. They also do not get audited, do not pay taxes, and are not help accountable for their actions. Call me crazy but this is what I though OWS was fighting against there is no bigger more corrupt entity.
Ushering in a return to the Gilded Age after they "abolish all government"
http://www.digitalhistory.uh.edu/database/article_display.cfm?HHID=144
U.S. Constitution - Article 1 Section 8
The Congress shall have Power To ... To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures
U.S. Constitution - Article 1 Section 10
No State shall ... make any Thing but gold and silver Coin a Tender in Payment of Debts
Now, what gives "money" (a medium of exchange) it's value is one of three things:
Intrinsic value, i.e., the medium of exchange actually has worth in and of itself (people want that thing, for whatever reason)
Redeemable value, i.e., the medium of exchange can be redeemed for the thing it is backed by (redeem your paper for the thing with intrinsic value - beans and rice, fuel, medicine, gold and silver, etc). Redeemable paper is a promise to pay the bearer on demand.
Faith, i.e., your belief that that paper, check, IOW is worth something. I can write you a bad check and if you believe it's good, you have put faith in that check and accepted it as good. If you never try to cash it, you're never the wiser.
Money based upon faith is circulating debt, meaning, like my bad check example, you are now stuck with having accepted something that not only doesn't have value, but it represents that YOU now owe a debt. In the case of Federal Reserve notes, every one represents the debt that you owe to the Federal Reserve Bank. That debt is our national debt. Instead of using money that has intrinsic value, the Federal Reserve Bank issues us paper, adds that to our national debt balance sheet, charges us interest on it, and we are forever indebted to the banksters. That's called debt slavery. The more they inflate the currency (print more paper, issue more credit), the higher the debt goes and the more we owe in interest. The Fed has no money of it's own. It creates the money out of thin air - via the printing press or digits in cyberspace. Did you get that? Our congress (in 1913) gave a private cabal of international financiers the power to pass bad checks and charge the American people interest on it. In return for the favor, the Fed issue gobs and gobs of this funny money for stuff like wars, which the government just loves to get involved in! We the People have to pay the interest, but the banksters reap huge profits, and the politicians and their pals in the military-industrial complex get filthy rich. Isn't that nice for them?! It is by this mechanism that the elite loot the We the People. All they need is our consent and our FAITH.
So, you misunderstand what a commodity based currency means. That's REAL wealth in the hands of the people and is yours to exchange for any other thing of value that you need. 50 dollars in silver will buy today what it did in 1900 because it's value is intrinsic and remains steady. 50 dollars of paper today will NOT buy what 50 dollars did in 1960 because the Federal Reserve Banks prints those fuckers like crazy, causing inflation and driving up prices.
Before NATO attacked the Libyan people, Gaddafi had met with other representatives of the African Union. Their plan was to issue a gold dinar (their dollar). All of the paper would be replaced with gold. All African exports, including oil, would be required to be payed for in gold. This would have put real wealth in the hands of the poorest of Africans. After all, they are giving resources of intrinsic value (minerals, oil, etc). Shouldn't they be compensated with something else of real value, something accepted as such all over the world? Well, it was a great idea but instead of gold they're getting the shit bombed out of them because there is no way in hell that the oligarchs of the west are going to give Africans anything of real value for their natural resources. Hence, the propaganda campaign against Gaddafi and the false justification to control their resources.
So, "money" is an interesting topic that very few regular folks really understand. They should, though. Especially any group of people who are protesting banks robbing us blind.
So are you disagreeing with me or agreeing ? That big long post basically said END the FED because when we do we have to move to a commodity based system.
Read it and find out. Sorry it requires more than a sound bite size of text to convey what money is.
I know what money is, i have a basic understanding of economics. I was not debating economics though. I merely said End the Fed is really Code word for a commodity based economy.
"End the Fed" is not code for anything, including a commodity backed currency. It means end the privatization of the nation's money supply and stop paying private business to create our currency, which we can do, as a nation, interest free.
I couldn't reply directly to your last post for some reason ...
Anyway, History shows that we would have to recreate a new Central bank or we would be at the mercy of the global markets. This is just fact and all you have to do is look up U.S recessions if you need proof. This is assuming we stay with out current monetary system.
I'm failing to understand exactly what you mean by issuing our own currency interest free.
Prior to 1913 we issued our own currency.
You are correct, we can do that. Now, once we dissolve the Fed, what do we do ?
Issue our own currency, interest free. It's up to congress to establish a national bank, but it doesn't have to be done. The mints make the coins and the Bureau of Engraving and Printing make the bills.
Nah uh!!!
TDW =Tear down the Wall CTF =Collapse the Fed
Instead of taking the low hanging fruit by taking an easy jab at your name I will ask you this -
Did you even -read- the links? Or are you just too stubborn to admit that maybe you -may- need to refine your approach a bit?
Nah uh . . me no understand how big bank take all my money . . I go bam bam
...>.>
So you think I'm calling Libtards a bunch of sophomores right? The way you're acting you're not proving me wrong.
Seems like you didn't even read the links either.
umm . .you mean the blue thingy?
-sigh-
So I suppose that you want a return to the Gilded Age?
http://www.academicamerican.com/recongildedage/topics/gildedage2.html
http://www.digitalhistory.uh.edu/database/article_display.cfm?HHID=142
lighten up dude . .one small step for OWS is giant boot up the arse for wall street
Not if you fight for the wrong side.
You need every dollar that is created to actually be debt that you owe, even before you earn your first one?
Koolaid.
Oh, and here's a message for you, you willing slave:
IT'S NOT MY DEBT, AND I AIN'T PAYING IT.
Put that in your pipe and smoke all 14 Trillion of it.
Take the fed back? It was never ours to begin with it has always been a private for profit group
http://occupywallst.org/forum/for-all-those-advocating-to-end-the-federal-reserv/#comment-101019
In the United States, the Fed is the central mechanism whereby the wealth of the many (the People) is transferred to the few (the uber rich banking dynasties). On an international level, the looting operations are carried out by other central banks and the IMF. The reason "end the Fed" is a marginal issue with OWS is because so few are educated about what the Fed is and what it does. The OP is taking advantage of that lack of knowledge and is shilling for the very institution that is stealing America blind. How curious!
Audit: Fed gave $16 trillion in emergency loans
The U.S. Federal Reserve gave out $16.1 trillion in emergency loans to U.S. and foreign financial institutions between Dec. 1, 2007 and July 21, 2010, according to figures produced by the government’s first-ever audit of the central bank.
Last year, the gross domestic product of the entire U.S. economy was $14.5 trillion.
Of the $16.1 trillion loaned out, $3.08 trillion went to financial institutions in the U.K., Germany, Switzerland, France and Belgium, the Government Accountability Office’s (GAO) analysis shows.
http://www.rawstory.com/rs/2011/07/21/audit-fed-gave-16-trillion-in-emergency-loans/
Here most people thought the bailout was a measly 700 billion. How did the Fed come up with this insane amount of "money" for their partners in crime? By inflating the currency. Who pays for that? WE DO.
Just by failing to meet it's mandate alone is enough to put the Fed under complete scrutiny. It's supposed to control inflation and maximize employment.
Did it do that?
Bwahahahahahah!
No.
Instead inflation when bonkers. Why else would people elsewhere worldwide riot when food prices and fuel prices sky rocketed?
Take care of unemployment? Unofficial stats, which includes things like people dropping out of the work search because there's no work or underemployment shows it at 16% to upwards 25%.
If the Fed were actually a corporate arm that had a mission to control inflation and maximize employment, I'd cut that arm off. It can't even do the job right. Time to seek out alternatives to the Central Banking model. And quite frankly, the Fed's not the ONLY one that's failed. Central Bank of Japan failed, the European Central Bank has failed, even China's Central Bank failed. Right now they're dumping yet ANOTHER stimulus into their markets. All of them have the same premise, mechanisms, and methods as the Fed.
At the core of it, Central Banking as a system has failed.
Time for alternatives.
And, of course, that alternative is found in our own constitution :-)
U completely discredit Urself saying $16.1 Trillion. The report at the link does not mention that.
This end the fed stuff is disinformation, I'll bet Ron Paul actually believes it and that ending the fed would benefit the banks, not us.
Paulians are misled, brainwashed.
Man, lol. Uh, yes it does say that and if don't like Raw Story you can Google the information, get it from your congress critters - whatthefuckever.
It's one thing to be uniformed. We all have to educate ourselves. It's another to be lazy and willfully ignorant. That would be you.
All the loans were backed by collateral and all were paid back with a very low interest rate to the Fed -- an annual rate of between 0.5% to 3.5%. http://money.cnn.com/2010/12/01/news/economy/fed_reserve_data_release/index.htm
You're talking about TARP. The audit of the Fed, only pertaining to TARP, showed they loaned out 16 TRILLION. Do do that, they engaged in quantitative easing which is inflating the money supply. That makes the money of We the People worth less. Inflation is a hidden tax, on us. It's public risk for private profit. When the Fed gets paid back, we don't. We have to eat our losses. Because of these loans, the banks are sitting on enormous sums of money, deposited with the Fed, upon which they are "earning" interest. One of the chief complaints of Main Street businesses is that the banks are not making this money available for loans. Remember, anything that the Fed loans comes out of our hides. So, they took the money from us through inflating the money supply, loaned it within the bankster syndicate, they get paid back, all the banks make a fortune, and we get higher prices. It's called TRANSFER OF WEALTH from the many to the few.
No, I'm not talking about TARP. Total under TARP was less than a trillion: http://en.wikipedia.org/wiki/Troubled_Asset_Relief_Program#Expenditures_and_commitments
QE is NOT these loans and only amounts to $2-trillion. The Fed printed up the money to buy Mortgage Backed Securities, Treasuries & bank debt. QE if done right won't cause significant inflation. http://en.wikipedia.org/wiki/Quantitative_easing#Amounts
Why are you here arguing FOR what OWS is protesting against? I don't get it.
The Fed loaned 16 TRILLION by inflating the money supply. I've explained, it's a matter of public record.
The money supply (M3) has never been over $15-trillion so how could they have inflated the money supply $16-trillion? They lent $16 trillion by giving an overnight line of credit to the banks -- the banks put up collateral -- most of the $$$ has been paid back. Bernie Sanders (who came up with the $16-trillion figure) never told the whole truth. More: http://www.huffingtonpost.com/2011/08/22/federal-reserve-12-trillion-loans_n_933615.html
...
And I suppose that FSIS and the FDA was responsible for the E.coli outbreak? Instead of the (both parties just remembered Clinton) that neutered those organizations through either defunding or putting in inside men?
I shall repeat...
Wall St = The Shooter
Govt and FED = The gun
Buttfuck Policies and corruption = The Bullet
Get it right guys!
The problem is that you have no idea what you're talking about, lol. You have made an analogy to two regulatory agencies (which are controlled by the industries they allegedly regulate). The Federal Reserve Bank (which is neither federal nor has any reserves) is not a regulatory agency. It is a private central bank, owned by it's member private banks. The Federal Reserve is not subject to any regulation or oversight by congress. Thanks to Ron Paul's audit the Fed legislation, we got one audit of the TARP bailout. 16 trillion to it's partners in crime, all at the expense of the American people.
Oh and they are there to regulate people like George Soros -
http://www.stock-investment-made-easy.com/george-soros.html
Isn't it ironic how he funds OWS? Or maybe makes sense.
Therefore it SHOULD be "Take back the FED". Because right now I do agree - they are all criminals.
Well yes that was my point. I was saying we NEED to take those agencies BACK. We NEED to take those politicians BACK. We NEED government to be FOR THE PEOPLE not abolish it for a full-blown corporatocracy.
The FED is there for a reason. They fund social programs like Medicare and they distribute the money. What happened NOW is that they got corrupt.
Also from the first link -
"The Federal Reserve has supervisory and regulatory authority over a wide range of financial institutions and activities. It works with other federal and state supervisory authorities to ensure the safety and soundness of financial institutions, stability in the financial markets, and fair and equitable treatment of consumers in their financial transactions. As the U.S. central bank, the Federal Reserve also has extensive and well-established relationships with the central banks and financial supervisors of other countries, which enables it to coordinate its actions with those of other countries when managing international financial crises and supervising institutions with a substantial international presence." (Except that the banksters control the FED now)
You did not read any of my links. I am sad.
Blame the shooters not the gun.
Don't be sad. This is bullshit from the Fed to hoodwink you. They are not a regulatory agency. They are a self policing cabal, like the Mafia. They are a private financial syndicate of world class pirates who have been at this game for centuries.
Once again, the American money supply, that is, our collective wealth as a nation, was privatized and stolen from us in 1913.
http://en.wikipedia.org/wiki/Panic_of_1907
And the FED was mostly created to stop people like... -looks around-
...from pulling off a stunt like when he shorted the British pound in the 90s.
http://en.wikipedia.org/wiki/Black_Wednesday
http://www.telegraph.co.uk/finance/2773265/Billionaire-who-broke-the-Bank-of-England.html
We do not "take back" the Fed. We had control over our sovereign wealth before the creation of the Fed. The Fed was created to take that control AWAY from us and to transfer the wealth of the People to the rich.
The Fed does not fund anything. WE DO. We can issue our own currency, interest free. We don't need to have private business do it and charge us interest and fees. In 1913, CONgress privatized the American money supply.
Just for clarity, OSHA is not responsible for food safety, so OSHA could not have been responsible. Two federal agencies that have a role in food safety are:
Food Safety and Inspection Service (FSIS) US Food and Drug Agency (FDA)
Just helping with the alphabet soup.
Ah thank you schnitzle. Well my point still stands.
And OSHA -could- be sort of responsible. Like - if an employer makes a sick worker work then the food could get contaminated.
I will edit it regardless.
I wasn't commenting on the intent of your statement. Just that OSHA deals with worker/workplace safety and has no role in food safety. As I said, it was just for clarification.
what you claim to be antisemitism is the truth....I've learned that people hate hearing the truth, no matter how accurate or harsh it may be....
First off - Use the damn reply function.
Second off - Middle Easterners are also Semitic.
Third off - The occupiers of Israel aren't truly Semitic - they are European
Fourth off - I just realized that it was -me- who first used "anti-Semitism" so maybe I should watch my Political Correctness.
Fifth Off - Talking to you is entertaining. And it bumps up my post. Which I want all the Libtards or the people falling for the Libtards to read.
Lork...political correctness means nothing....who cares? We are all adults....we should be able to challenge the Holohoax, Israeli Policy - since they steal our money, the ADL, jewish bankers, etc.....most jews in the Middle East are euro but almost mostly of communist russian roots....makes sense, considering Israel is not a democracy. It seems like alot of occupy wall streeters are young and ill-informed....
I wasn't against your right to say stuff.
I just don't want to be the next Rick Sanchez. Yeesh!
hahaha!
Lork, you're a sweetie, I can tell. I know your heart is in the right place. I have studied the Fed since 1980, so I know what I'm talking about. I want you to know, too. I had to learn and you can learn. You need truthful information to sort out the bullshit from the facts. Because you seem to have a genuine interest in what the Fed is, please take the time to watch this video. Once you watch it, try to follow up with reading The Creature From Jekyll Island, which is the history of the Fed, how it came to be and what it really is.
http://video.google.com/videoplay?docid=6507136891691870450
Thing is jews have made it that any criticism of Israeli Policy, the Holohoax, the FED, Bernie Madoff etc - is antisemitic...meanwhile they keep murdering and imprisoning Palestinians....
Let's keep the topic exclusive to dealing with the FED...I don't want any flame wars.
...
...although your anti-Semitism may just bring attention to this thread.
The FED is run by jewish folks......we need to create a deb-free currency....if we are to keep a "FED" it needs to have equal representation - ie not all jewish BODs - we need to have gentiles....
...
One - Was that "End the FED" or "Clean up the FED"? If it was "clean up the FED" then I agree.
Two - I hate that colonialist invader called Israel as much as you guys and it was uncalled for for Runmymouth Sanchez to get fired (overreacting), but that is as far as it goes. I don't condone any sort of Neo-Nazism or that crap, although the Tee Pees and the Righties may think otherwise.
Exactly, but many more people will come to your side when you are proactive (for “new” Business & Government solutions), instead of reactive (against “old” Business & Government solutions), which is why what we most immediately need is a comprehensive “new” strategy that implements all our various socioeconomic demands at the same time, regardless of party, and although I'm all in favor of taking down today's ineffective and inefficient Top 10% Management System of Business & Government, there's only one way to do it – by fighting bankers as bankers ourselves; that is, using a Focused Direct Democracy organized according to our current Occupations & Generations. Consequently, I have posted a 1-page Summary of the Strategically Weighted Policies, Organizational Operating Structures, and Tactical Investment Procedures necessary to do this at:
http://getsatisfaction.com/americanselect/topics/on_strategic_legal_policy_organizational_operational_structures_tactical_investment_procedures
Join
http://finance.groups.yahoo.com/group/StrategicInternationalSystems/
because we need 100,000 “support clicks” at AmericansElect.org to support a Presidential Candidate -- such as any given political opportunist you'd like to draft -- in support of the above bank-focused platform.
Most importantly, remember, as cited in the first link above, that as Bank Owner-Voters in your 1 of 48 "new" Business Investment Groups (or "new" Congressional Committees) you become the "new" Congress replacing the "old" Congress according to your current Occupation & Generation, called a Focused Direct Democracy.
Therefore, any Candidate (or Leader) therein, regardless of party, is a straw man, a puppet; it's the STRATEGY – the sequence of steps – that the people organize themselves under, in Military Internet Formation of their Individual Purchasing & Group Investment Power, that's important. In this, sequence is key.
Why? Because there are Natural Social Laws – in mathematical sequence – that are just like Natural Physical Laws, such as the Law of Gravity. You must follow those Natural Social Laws or the result will be Injustice, War, etc.
The FIRST step in Natural Social Law is to CONTROL the Banks as Bank Owner-Voters. If you do not, you will inevitably be UNJUSTLY EXPLOITED by the Top 10% Management Group of Business & Government who have a Legitimate Profit Motive, just like you, to do so.
Consequently, you have no choice but to become Candidates (or Leaders) yourselves as Bank Owner-Voters according to your current Occupation & Generation.
So please JOIN the 2nd link, so we can make our support clicks at AmericansElect.org when called for by e-mail from the group in the 2nd link, and then you will see and feel how your goals can be accomplished within the strategy of the 1st link as a “new” Candidate (or Leader) of your Occupation & Generation.