Forum Post: The Fed Eats the Roast Chicken for Free (part one) By Liu Dasheng

Liu Dasheng’s note: Any newspapers, periodicals, radios and television stations, wanting to publish this article (no matter full or in part), please obtain the consent of the author. The websites can share it free, without excision or remove. E-mail: qbsz@sohu.com

The Fed Eats the Roast Chicken for Free

Author: Liu Dasheng (Jiangsu administration institute, Nanjing, China, 210004) Translator: Fan Fu  (Jiangsu administration institute, Nanjing, China, 210004)

One day, a hooligan comes to a restaurant. ‘A roast duck !’ the hooligan tells the waiter. After a while, the waiter brings the duck on. The hooligan smells it and says ‘Give me another one! This roast duck smells not good enough.’ ‘But in our restaurant, all the roast ducks smell the same. It will make no difference to change another one.’ the waiter answers him. ‘Well, give me a roast chicken instead.’ the hooligan says. Then the waiter brings him a roast chicken.

When the hooligan finishes the chicken, the waiter asks him to pay the bill, but the hooligan refuses. He says ‘I used a roast duck to exchange your chicken. How can you ask me to pay it? ’ ‘But you didn’t pay for the duck.’ the waiter says. ‘Why should I pay the duck? You have taken it back! ’At last, the waiter doesn’t get the money and the hooligan eats a roast chicken for free.

What I told above is a storytelling I heard from the radio and the category of literature is fiction. But is there anybody always eat free roast chickens in our real life? The answer is yes. The Fed and the its bankers always eat the incremental printed paper money as free roast chickens and deny what they have done.

My banal work Who has the Ownership of the Incremental Printed Paper Money is written in order to prevent the Fed and its bankers from eating free roast chickens. Since published online, it has won many shitizens’[1] support. At the same time, it is also strongly against by some bankers.

A reporter from Shenzhen Economic Daily gives his comments ‘It is a big problem, a real one. All the economists haven’t discussed this problem before. It’s really a big blind spot.’ A netizen named ‘huanglin_stl’ says ‘Reading your work is like being filled with wisdom. I ’d like to struggle to protect our hard-earned savings.’ ‘I learn the crowning dignity of the legal system and rigorous analysis after reading the article Who has the Ownership of the Incremental Printed Paper Money.’ says a doctor of economics who has not yet been brainwashed. Boxuesky, a website reprints my banal work and changes the title to Flap the Deaf Hair! Rational Query! Who has the Ownership of the Incremental Printed Paper Money? [2]On the Kdnet, an online community, a netizen named lry369 says ‘Mr. Liu should win the Nobel Prize for his question. I insist that everyone should have the right to issue money, but Mr. Liu’s opinion is more realistic.’[3]

But in contrast to the shitizens, the spokespersons of Fed -- the bankers’ replies dumbfoundingly. Please look at the following conversation. Shitizen Liu Dasheng says ‘The incremental printed paper money is the product of living and manufacturing demand of all the nationals. The ownership of it should belong to all the nationals and it should be given to the nationals averagely. But in fact, it has been put by the Fed who is just an example of the central banks of all countries into its own pocket. It is quite unreasonable.’

The spokesman of Fed says ‘We didn’t put it into our own pockets, neither did we spend any incremental printed paper money. Instead, we exchange it into the government bonds and the IOUs of commercial bank.’
Shitizen Liu Dasheng says ‘But the government bonds and the IOUs of commercial bank must be repaid principal and paid interest on loans which is a great fortune. How can it be occupied by the central banks-- such as the Fed for free?’