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Replies: 20 / Views: 2,466 |
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Pillar of the Community
United States
830 Posts |
Quote: Could we not have the Treasury Department and Congress responsible for "Issuing Currency" our own Debt Free Currency. instead of Borrowing it from the Federal Reserve Bank At Interest Yes! Abe Lincoln did it, Ben Franklin did it, Thomas Jefferson wanted to do it. Anyone that doesn't understand this needs to watch this: http://www.youtube.com/watch?v=7qIhDdST27g
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Valued Member
United States
384 Posts |
I saw your article after posting. And I beleive we already do that today. If you look at the dollar bill, it says federal reserve note, and that it has full legal tender. Only it is not backed by gold, because we do not have enough gold to back all of today's money.
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Pillar of the Community
United States
830 Posts |
Quote: And I beleive we already do that today. Nope, we now have a debt based monetary system.
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Valued Member
United States
384 Posts |
I was talking about the above article by stewart, I have yet to see the video, and what it says. Sorry for the confusion.
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Pillar of the Community
 United States
1126 Posts |
I can understand your confusion on the matter AlmostCollectable
It is understandable because they way it is set up now it is meant to be confusing. a "Federal Reserve Note" is a note from the Federal Reserve BANK. It is a for Profit Private Corporation. It is no more Federal than Federal Express. Once I got my head wrapped around that. Things started getting easier to understand
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Pillar of the Community
 United States
1126 Posts |
Quote: Yes! Abe Lincoln did it, Ben Franklin did it, Thomas Jefferson wanted to do it. Exactly What I am Talking About
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Pillar of the Community
United States
3670 Posts |
Here is a simple question. Are the big investors buying these Federal issued bonds for example (QE-whatever), getting payed with interest in due time? I imagine they are for them to be planning to do more, but is that payment from just more over printed, over extended dying dollars?
Edited by Silverhawk74 06/22/2011 11:26 pm
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Moderator
 United States
16679 Posts |
Ronald Reagan's famous 8 words to fear: "I'm from the Government, and I'm here to help."
swcoin.ecrater.com
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Pillar of the Community
 United States
1126 Posts |
SilverHawk,
Great question, and I fear that you are right in the thought that will do and want more than just interest on their investment. Just imagine for a moment is you personally could control the money supply of a country. With that ability you could approach the president and congress and ask them to pass favorable laws for you and your friends businesses. And if it was determined by the president or congress that these new laws you are proposing is not in the best interest of the country. You could threaten to though the country into a depression simply by contracting the money supply. (making the money supply smaller) less money circulating then the remaining money becomes scarce and is hoarded bringing normal commerce to grinding halt. No commerce, No economy. Prices drop dramatically and you would be able to move in and scoop up real assets (Real Estate, Operating Businesses) for pennies on the dollar, Because you know exactly when you plan to loosen up the money supply and watch prices rise again. And if you really want to profit obscenely you could over supply the country with money. Driving prices up dramatically for the same assets that you just gave pennies on the dollar for a year or two earlier and sell at the inflated prices. Because you know that the Dollar is worth less than it was earlier. BUUUUUT not for long because you plan on contracting money supply again (Raise Interest Rates) and starting the whole Boom and Bust cycle all over again. Right now they are picking up real estate at incredibly low prices. I managed a Mortgage Company back in 2000-2002 time frame and properties that were appraising in the 50-75,000 and as high as $125,000 range I have been seeing them sell at foreclosure sales as low as $4,000 and with a median of 7-$20,000 range.
Scary thought huh? having the control of a countries money supply in the hands of a for profit corporation. Now take that scary thought and extrapolate it out to the ENTIRE PLANET. After all the United States Dollar IS the Reserve Currency of the Planet at this time in history
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Valued Member
Cyprus
349 Posts |
41% of USAmerica political donations are from the banking industry. Whatever their mandate is...surely is the government's mandate.
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Pillar of the Community
United States
830 Posts |
Yep politicians/elections bought by the big bankers, and maybe even an assassination or 2 thrown in for the ones they couldn't buy and this is what you get...a nation in debt for no good reason.  But maybe we have the magic slippers to get out, just have to click the heals together 3 times and say there's no place like home. 
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Valued Member
United States
384 Posts |
If only it was that easy. That video looks fancy, and maybe even if they are right about the fact that it should be government run, and not partly-private bank run. It's just not that easy.
Over modern economy has been built entirely around this system. And a change like this would cause massive amounts of deleveraging. And as good as that may sound on paper, we are already close to a double dip recession, and a change like this would easily put us into a depression.
And some people may be willing to take on a depression, assuming that this change is best for our nation in the long term, but no politician is gonna vote for that. So it's never gonna happen.
And if you want my opinion, I don't buy this idea, at least not as an immediate solution.
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Pillar of the Community
 United States
1126 Posts |
I think you are absolutely right about a change of that magnitude causing a depression and no politician would vote for it. Or is it either an immediate solution. But the way it is going now, we are speeding towards a Major Depression as it is. Once a country like Greece fails then with the Credit Default swaps in place it will be a domino effect across the planet. All it takes is one or two countries to fail and the ensuing lack of confidence in the current Debt based currency. The rest will fail. Some of the large institutions and some countries are already preparing for it by accumulating large amounts of gold and silver. University Of Texas recently took PHYSICAL DELIVERY of close to 1 Billion Dollars of gold.
The solution suggested is for coming out of the other end of the coming depression. So that we get away from the Boom and Bust Cycles of Debt Based Fiat Currency.
Edited by stewart 06/23/2011 9:33 pm
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Pillar of the Community
United States
4008 Posts |
Quote: Scary thought huh? having the control of a countries money supply in the hands of a for profit corporation. Now take that scary thought and extrapolate it out to the ENTIRE PLANET. Oh, I don't know, Stu. Considering what Princes and Presidents, Emperors, and Kings, and Committees have done to each other and to their citizens, could it be any worse? Perhaps... but it strains the limits of credulity to imagine it. 
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Rest in Peace
United States
9104 Posts |
Quote: Huh? The Treasury Dept is already responsible for printing our currency, ever hear of the Bureau of Engraving and Printing? Paper money comes from the money factory. Check their website http://moneyfactory.com
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