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Thread: Central Banking and the US and China, Oh My!

  1. #31
    Senior Member jyng1's Avatar
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    Quote Originally Posted by mara View Post
    No
    Dude, I never watch your videos. If you want to say the profits from the fed aren't returned to the Federal Government, you'll have to explain why.

    If you're trying to say the banks are gaming the system... speculators nearly sent the UK broke several times when the pound was backed by gold and forced it into years of austerity. If you hadn't noticed you can now travel overseas with more than 50.
    Last edited by jyng1; 08-25-2018 at 10:14 PM.

  2. #32
    your cheapest wine Johnny's Avatar
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    Quote Originally Posted by mara View Post
    when we consider just how unanswerable to the government the federal reserve is lets remember that the fed refuses to be audited:

    Watch Fed Chair Yellen's heated exchange with congressman

    https://www.youtube.com/watch?v=pr1QTH-Il4w
    Unanswerable to government? Why is she then sitting there having her time wasted by this guy at all?

    Maybe she's just lonely. She looks lonely rather than pissed to me in your video.
    What's the difference? It's just soda, bro.

  3. #33
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    I thought commies hated trickle down economics. The rich and large corporations benefit from central banking as they get to spend the money first from all the big loans as the effects later 'trickle down' to everyone else in the form of inflation. With modern productivity gains from things like the internet, robotics, and communications....common people should be massively wealthy. But the reality....real wages have not increased since the 70s? Wow, and it surprisingly correlates with the end of the Bretton Woods agreement. How did they do this? They taught you the CPI was really inflation and not what it actually is which, is an increase in the money supply. Oh but there's more. They've fudged the way CPI is calculated on multiple occasions. How you say? By saying that consumers change their spending habits...for instance if the price of steak is too high...the consumer will buy hot dogs instead....and on and on. Inflation is what they SAY it is. All a huge fucking scam to siphon off the wealth of the middle class and put it in the pockets of the elite.

    In 1964 the minimum wage was 5 silver quarters. The melt value of that silver today is $15.55. There's your 15 dollar an hour minimum wage! But no let's mandate it by the Feds and disrupt the GD economy even more when it has nothing to do with greed. It's the money!

    Pretending like the banks don't benefit outrageously from this system is the dumbass ill-informed comment of the century. Of course they benefit! How you say? They loan money out they don't even have through fractional reserve lending!?!?!?! Are you really this stupid? And all the fraud covered and insured by Joe taxpayer and the FDIC.

    If you had a grain suppository where you stored your grain and, the suppository just started loaning out the grain to other people you would be fucking livid when you went to collect your grain and it wasn't there. The difference? You can't print grain! This would be fraud but in money it is perfectly acceptable

    Interest rates need to be determined by the market supply and demand for money...not by a centralized authority.

  4. #34
    your cheapest wine Johnny's Avatar
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    Quote Originally Posted by BillyBibbit View Post
    ...If you had a grain suppository where you stored your grain...
    Suppository? LOL

    I think you mean repository. But really, you mean silo.

    And no. The dollar has not been a commodity (or guaranteed for conversion into a specific amount of some commodity such as gold by the US government) for many decades and would have difficulty today in keeping up with an abundance of renewable energy, more access to oil than ever, and food (to name just a few things)...meaning, were the US to still be on the gold standard, the pressure to devalue it would be immense due to the evolution of global trade and the movement of many dollars overseas.
    https://www.eia.gov/energyexplained/...renewable_home
    https://www.forbes.com/sites/judecle.../#3dba2f985b1f
    https://www.huffingtonpost.com/eric-...b_1463429.html

    Do you know what happens when foreign interests possess large stores of dollars, backed by the gold standard? They convert (or threaten to convert) the dollars they hold into gold and drain your country's gold reserves. Do you know what happens then? In the simplest terms, it means you get to keep working till you die rather than wasting that valuable time explaining to readers here that they should be enraged to see their suppositories missing.

    And FDIC protects your money so long as you are depositing it with an eligible entity, but I don't recommend depositing large sums that you don't intend to claim on your tax returns. Your friendly gold dealer may be able to help you there, while gold is still affordable LOL

    Furthermore, central banks don't really control shit. If they did, we wouldn't be where we are now. The Fed alone has an ARMY of PhD economists and subject matter experts to gather economic data, keep watch on the US and world economy, and devise models with which to analyzer and predict its actions and the actions of other banks and economies...and they STILL struggle to avoid fucking up incessantly. I fucking guarantee you we would be doing a worse job, as we combined don't even have %0.01 of the Fed's brainpower.

    ***************

    Man, I'm beginning to regret talking about banks and financial systems now. I mean, the fun factor is embarrassingly low. I'm not learning much in talking about it here.
    Last edited by Johnny; 09-03-2018 at 03:59 PM.
    What's the difference? It's just soda, bro.

  5. #35
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    Quote Originally Posted by Johnny View Post
    . The Fed alone has an ARMY of PhD economists and subject matter experts to gather economic data, keep watch on the US and world economy, and devise models with which to analyzer and predict its actions and the actions of other banks and economies...and they STILL struggle to avoid fucking up incessantly.
    what makes you so sure that the fed doesn't intend to 'fuck up incessantly'?

    they make credit plentiful and then restrict the money supply thereby leaving homeowners and small business owners high and dry so that they can swoop and scoop up the assets

    its a con game

  6. #36
    your cheapest wine Johnny's Avatar
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    What's the difference? It's just soda, bro.

  7. #37
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    having a central bank was the fifth plank of karl marx's communist manifesto:

    5. Centralization of credit in the hands of the state, by means of a national bank with state capital and an exclusive monopoly.

    Journalist James Corbett digs into the fed:

    Century of Enslavement: The History of The Federal Reserve


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