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A Novel Approach To The Economic Issue, Opinions Appreciated

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Author Previous TopicReplies: 20 / Views: 2,466Next Topic Page 2 of 2
Pillar of the Community
United States
830 Posts
 Posted 06/22/2011  4:16 pm  Show Profile   Bookmark this reply Add GoThunder to your friends list

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
Valued Member
United States
384 Posts
 Posted 06/22/2011  4:21 pm  Show Profile   Bookmark this reply Add AlmostCollectible to your friends list
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.
Pillar of the Community
United States
830 Posts
 Posted 06/22/2011  4:28 pm  Show Profile   Bookmark this reply Add GoThunder to your friends list

Quote:
And I beleive we already do that today.


Nope, we now have a debt based monetary system.
Valued Member
United States
384 Posts
 Posted 06/22/2011  4:38 pm  Show Profile   Bookmark this reply Add AlmostCollectible to your friends list
I was talking about the above article by stewart, I have yet to see the video, and what it says. Sorry for the confusion.
Pillar of the Community
United States
1126 Posts
 Posted 06/22/2011  4:47 pm  Show Profile   Bookmark this reply Add stewart to your friends list
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
Pillar of the Community
United States
1126 Posts
 Posted 06/22/2011  5:00 pm  Show Profile   Bookmark this reply Add stewart to your friends list

Quote:
Yes! Abe Lincoln did it, Ben Franklin did it, Thomas Jefferson wanted to do it.


Exactly What I am Talking About
Pillar of the Community
United States
3670 Posts
 Posted 06/22/2011  11:24 pm  Show Profile   Bookmark this reply Add Silverhawk74 to your friends list
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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United States
16679 Posts
 Posted 06/22/2011  11:30 pm  Show Profile   Check vermontensium's eBay Listings Check vermontensium's eCrater Listings Bookmark this reply Add vermontensium to your friends list
Ronald Reagan's famous 8 words to fear:
"I'm from the Government, and I'm here to help."

swcoin.ecrater.com
Pillar of the Community
United States
1126 Posts
 Posted 06/23/2011  07:44 am  Show Profile   Bookmark this reply Add stewart to your friends list
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

Valued Member
Cyprus
349 Posts
 Posted 06/23/2011  12:10 pm  Show Profile   Bookmark this reply Add Ozzie to your friends list
41% of USAmerica political donations are from the banking industry. Whatever their mandate is...surely is the government's mandate.
Pillar of the Community
United States
830 Posts
 Posted 06/23/2011  2:09 pm  Show Profile   Bookmark this reply Add GoThunder to your friends list
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.
Valued Member
United States
384 Posts
 Posted 06/23/2011  8:50 pm  Show Profile   Bookmark this reply Add AlmostCollectible to your friends list
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.
Pillar of the Community
United States
1126 Posts
 Posted 06/23/2011  9:33 pm  Show Profile   Bookmark this reply Add stewart to your friends list
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
Pillar of the Community
United States
4008 Posts
 Posted 06/24/2011  01:23 am  Show Profile   Bookmark this reply Add Ed_B to your friends list

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.

Rest in Peace
United States
9104 Posts
 Posted 09/02/2011  6:49 pm  Show Profile   Bookmark this reply Add biggfredd to your friends list

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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