Forum Post: The U.S. Federal Reserve is GOOD !! says Ben Bernanke !!
Posted 12 years ago on Nov. 11, 2011, 9:16 p.m. EST by Scout
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ZeroHedge is a fascinating site. Tyler Durden is theee man. Impeccable Infomation, always. Fast and Furious. Loved the article, thanks!
well it is a far more reliable site than the crappy news and coverage you get on mainstream media
“Banking was conceived in iniquity and was born in sin. The bankers own the earth. Take it away from them, but leave them the power to create money, and with the flick of the pen they will create enough deposits to buy it back again. However, take it away from them, and all the great fortunes like mine will disappear and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of bankers and pay the cost of your own slavery, let them continue to create money.” – Sir Josiah Stamp, Director of the Bank of England (appointed 1928). Reputed to be the 2nd wealthiest man in England at that time.
very well said! and take away the power from the bankers to create credit and people will soon learn that with half the stuff they buy today they don't really need in any case
We do need a medium by which we can trade goods and services, but the issuance and regulation of that medium should be in the hands of elected representatives as the U.S. Constitution authorized. The Federal Reserve is an unlawful fraud.
absolutely! And it is important that medium has very strict limitations on its supply so that more of it it cannot be created at the stroke of the computer keyboard if things get tough.that was the idea behind the creation of bitcoin which at least despite its shortcomings had a finite number which could ever be created.
Definately, that medium must have a limitation. When goods and services rise with the amount of currency there is neither inflation nor deflation.
At this time 99% of U.S, Currency is actually bank credit. Bills and coins make up only 7% of our currency and U.S. bills originate as loans from the Federal Reserve. The Federal Reserve creates the credit with keystrokes on a computer keyboard, based on absolutely nothing.
bastards !!
They are at the CRUX of our many problems !
very good :-))
Take Tim with him
after being water boarded perhaps
If Ben doesn't like tar and feather...better fly out to Ireland with Dodd.
Spring..Autumn..Winter..Summer....
Hell, it's the American season!
tar and feather..is much too good for this creep. I prefer Max Keisers remedy which is either the guillotine or the gallows.
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I think the real question is why it came into existence in the first place. True, it's origination was bent on wealth, but why? And in what form? Is stabilization an evil thing or a necessary thing?
now it's one of the most secretive and corrupt institutions in the world.I think they would have helped their cause considerably had they been more open about their dealings. Their extreme secrecy has only generated more questions and suspicions about their dealings and motives.
I'm not at all convinced that the Fed exists as a distinct entity. More, I believe there is need to regulate as a means of ensuring that the dollar remains as the world's reserve currency. There are other forces at work here... that would prefer we were not possessed of this obvious economic strategic advantage.
oh no not another advocate for more regulations ! cut out the cancer and then start again. If you are advocating more Fiat currency and more fractional reserve banking then you are no better than Ben Shalom Bernanke himself
I am advocating a means of maintaining a stable currency. There's an interesting thing going on in Europe in that adoption of the Euro has not eliminated an exchange rate. The value of the Euro in poorer communities is decidedly higher than in those of wealthier communities. I don't think I am qualified in this world. And either is the American public.
well the US dollar has so many things wrong with it that you can't possibly seriously suggest it can remain as the world reserve currency. It's had its day and it has been ruined by greedy people who abandoned the gold standard. It is only supported by promises and faith and can you honestly have faith in the rabble that today constitute the government on both sides of the aisle?
Our freedom is entirely dependent on the ability to print our own money. So yes I do advocate a continued use of the dollar as the world's reserve currency. If you have any questions on this, consult the Germans.
I think you would have second thoughts if you read the NIA forecasts of what food and groceries are going to cost in the not too distant future if the printing presses are not turned off. it doesn't bother me because I live in a country where there is an abundance of cheap food :-) it will bother people living in the USA very much eventually