Forum Post: You need to Occupy The Fed
Posted 13 years ago on Oct. 9, 2011, 10:01 p.m. EST by Powdrhound
(22)
This content is user submitted and not an official statement
This is where the fundamental cause of the problem is - the privately owned Federal reserve!!
Hmmm We don't have a privately owned central bank we are a lot smaller and more vulnerable to global markets than you and yet we only have a recession when you do. The situation you speak of has zero basis in fact in the modern world. So instead you prefer a system where americans are charged for every dollar produced + plus interest. The joke is that from the first dollar printed there is not enough american dollars to ever pay the debt. Your economy has for years led global markets not because of the fed - inspite of it. So in short, yes you should. You still need a central bank, One that works for the people of America not a privately owned bank that only serves its corporate owners interests
And what is your solution to ending the Fed ? Should we just go back to an economy that was totally stagnant and at the mercy of the global markets ? Me personally, one major recession every 10 years is enough. I don't think i could handle 2 years of recession followed by 1 year of economic growth like it was before we had the Federal Reserve.
see above for the my solution
Re read my original post for your response. And you could go look up the history of American recessions if you want proof.
I have re read it multiple times it does not change the fact that your arguement does not hold water the 10 year recession if You'd be happy with that can be achieved with a publicly owned central bank. like many other countries around the world have already.
Do you have a response to why any country should pay a private corporation to print their own money and charge them interest on it??
What part of my argument does not hold water ? Would you like me to link you to a site that lists all of the U.S recessions ?
http://en.wikipedia.org/wiki/List_of_recessions_in_the_United_States
http://video.google.com/videoplay?docid=-515319560256183936
There's your reason why the Fed should not exist "tr289".
Obviously you can not explain it yourself and don't fully understand it so you send me a link to a video. How do you know whats said in that video is correct ?
A normal person would perhaps watch the vid and decide for themselves. as you have come on here in support of the fed and have put forward an argument which has no basis in fact. I'd say you either don't understand the Fed and its impact or you have some other agenda
Go look up U.S recessions and then come back and tell me my argument has no basis in fact.
Maybe it's you and your stance on the Fed that has no basis or fact ?
I have looked it up as you suggested - nothing that wouldn't be solved by a state owned central bank as I suggested in my original reply.
have you watched the videos yet??
No i haven't. Not going to either. If you can not explain your solution to Ending the Fed i don't much care to watch a video you linked.
I don't support a corrupt of privatized central bank. I do how ever understand what a Central bank does and why one is needed in a global economy. We might actually agree on the Federal Reserve. It is how ever very dangerous to make blanket statements like END THE FED unless you truly understand what a Central bank is. We don't need to end the fed, we need to fix the corruption in it and remove it from the hands of private banks. Opening the books would be nice too.
You effectively said that without the privately owned Fed the US economy would be in an out of recession two years in three - even assuming your exaggerating, there are plenty of countries around the world that do not have a privately owned central bank. They are at the mercy of the global markets yet year upon year and experience good economic growth. They are not in and out of recession in fact they are only in recession surprisingly at the same time as you with your privately owned central bank. So to recap Yes your argument is BS and as it can be shown that you can have a central bank not in private ownership and will not be in recession every other year or anymore than any other country performing just ok. you should have no problem getting rid of the Fed. The idea that a country has to pay a private corporation to have it's own money printed and be charged interest on that is so jaw droppingly ridiculous. It would be like your employer paying you your own salary, charging you interest, then expecting you to pay it back with interest. You clearly have an hidden agenda
" You effectively said that without the privately owned Fed the US economy would be in an out of recession two years in three - even assuming your exaggerating"
I did not say that, you did. Since you obviously don't understand i will try to explain it.
I'm not supporting a corrupt or privatized central bank. I am merely supporting the need for a Central bank in a global economy. And please don't reply to me with some wacko economic theory. A resource based economy would be nice but not it's possible.
Oh and the countries that don't have a central bank use another countries central bank.
(edit) Don't assume i am exaggerating, go look it up for yourself.
Ok So we are violently agreeing a position I much prefer. I agree you need to have a central bank if you have a monetary based system, just not in private hands .
It could be possible to have a resourced based economy the question is how to get to one from here. It would require the support of other countries willing to trade goods for goods and some other monumental shifts in thinking. The first step is for enough people to acknowledge that it is a good idea so that the how can be looked at in enough depth in order to determine whether or not it is possible and what steps would be needed.
Yes agreed on your last point.
I get pissed off when i hear END the FED because most people don't even know what the Fed is much less why or what end the fed means. I had one person trying to tell me we need to End The Fed because it lost all our money investing in private stocks when the economy collapsed.
A resource based economy would be nice and all but assuming you mean going back to the gold standard, How would it work ? We import $900 billion per year in oil from countries that we export next to nothing to. We have roughly $11 billion in gold... See a problem ?
The more extreme versions of the resource based economy, The ones with robots doing all the work, Sounds great to me but i think we are a few years away from that being a reality. lol
Yes I'm not advocating a return to the gold standard. more of (and I know this will sound nuts or impossible to many) but a true resource based economy where needs and wants are satisfied based on what is good for society - no money full stop. In fact I think most people could have more than what they do now because theoretically there would be far better and more efficient use of resources. There would also be a focus on designing things to last. Much of that that even sounds nuts when I say it but that would be the ideal.
For anyone else reading I would agree with tr289 if you stick with a monetary based system you need a to have central bank. I also believe however that if you do you will run the risk of ending up back here someday. I live in New Zealand and although we are much smaller I see many of the same problems you are facing here too. I sincerely hope this movement brings real change that spreads beyond Americas borders.
((" I also believe however that if you do you will run the risk of ending up back here someday. ")) I don't think you run the risk of ending up in this situation again. I think it's inevitable. lol
As for the resource based economy, At this point in time, how realistic is it ? I'm kind of indifferent to a resource based economy because it's not something i think much about. I just don't see anything like it happening in my life time. Hell my grand children probably wouldn't see anything like it either. That's something the entire world would have to agree with and accept.
And forgive me for the slow response, was brutally mauled mauled by a 10 week old kitten. had to break out the Band aids and stop the bleeding. Those things are viscous btw !
We could live without the Federal Reserve with Local and State banks.
http://motherjones.com/mojo/2009/03/how-nation%E2%80%99s-only-state-owned-bank-became-envy-wall-street
Statistics on Bank of North Dakota http://finance.yahoo.com/family-home/article/112420/why-north-dakota-may-be-best-state-in-country-to-live-in
U.S. States That Are Considering Starting Their own Banks
http://ipsnews.net/news.asp?idnews=51277
http://www.energybulletin.net/stories/2011-06-10/report-public-banking-can-democratize-economy
http://www.shareable.net/blog/reviving-main-street-a-call-for-public-banks
http://www.thepeoplesvoice.org/TPV3/Voices.php/2011/05/20/what-a-public-bank-could-mean-for-california
Financial Permaculture http://appleseedpermaculture.com/8-forms-of-capital/
Time Banking http://timebanks.org/about
Barter http://www.u-exchange.com/barter-system
The answer is in the constitution, if am not mistaking, article 10 sections 1, 2, 3. The constitution authorize only congress to print our currency, so why is Goldman Sachs, one of the owners of the FED, in charge of printing our currency?
Exactly!!
Yes! and here is the solution. http://www.radiokazoo.net/OPV/