The Federal Reserve ..... A sad story for the USA

[HAOLE]

Over the past year I have been looking into the banking system in America. the things I have found out are really scary. I am not sure how much longer our monetary system in the US can survive the way it is. Our money is a pipe dream that has been given to us in place of reality. No longer is the money of our nation produced and backed by our Government, it has been printed out of thin air since 1913.

 

Anyone else been studying up on this?

 

I know this post contains videos, I think it will generate more response about the topic rather than the video itself.

 

 

Part 1

Part 2 Part 3

Part 4 Part 5 Part 6

Part7 Part 8 Part 9

Part 10

[justinwebb]

damn and i always thought it was still backed by gold cool videos quite worth the watch

[Akula]

we have been off the gold standard for quite some time.

 

I use FT Knox in my Wifi security classes as an example of something with too much confidentiality (have you ever seen the gold) no integrity (politicians tell you there is gold) and no availability (can you spend the gold) it is the ultimate in security.

[Alex1647545498]

Yeah, it is scary... in god we trust. heh. Old news but most people probably doesn't know it.

[jeffmeden]

Gold standard? It's not really the cause of, or solution to, all of our problems (beer is.) You must be new here. See: The Wizard of Oz

 

The monetary system has looked very scary for many decades. The only bright side of the war in Iraq (no flames for this, just shut up and read) is that OPEC is all the less likely to switch away from the USD since we are technically in control of the output of that country. The oil market is one of the few things left supporting the US dollar globally.

 

Cliffs: If OPEC doesn't trade in dollars, no one in the world will want our debt, and the dollar will make the PESO look GOOD. We need to 'influence' oil exporters in order to make sure this doesn't happen.

 

We have been in this boat for a LONG time, we just have to cross our fingers, spend our paychecks, and hope no countries decide to call us to the mat financially. My advice? Invest internationally. Now.

[SpaceGhost]

Crikey

 

SOme of the questions he was asking, the guy was never in the same room as the person he was intervewing. The backgrouund would totally change with each cut so who knows what question was asked really. I don't know what to believe anymore, every day more and more I want to pack up and leave this country to live somewhere else.

[HAOLE]

Crikey

I don't know what to believe anymore, every day more and more I want to pack up and leave this country to live somewhere else.

I don't think I would go this far. As bad as it may be here.... I would rather be here than anywhere else.

 

It is scary to think that the banks control all of us but they do. The banks artificially inflate the price of everything in our country, Just think how many Escalades would be on the road if we all had to pay cash for them. Or the nice house you live in, would it cost that much if we have to save for them like 300 years ago? For me i have resolved to live as far off the "grid as possible. I will no longer take out auto loans again, or finance anything except for my house. I don't want to be a indentured servant to the banks any longer .

[OSUGT]

I don't think I would go this far. As bad as it may be here.... I would rather be here than anywhere else.

 

It is scary to think that the banks control all of us but they do. The banks artificially inflate the price of everything in our country, Just think how many Escalades would be on the road if we all had to pay cash for them. Or the nice house you live in, would it cost that much if we have to save for them like 300 years ago? For me i have resolved to live as far off the "grid as possible. I will no longer take out auto loans again, or finance anything except for my house. I don't want to be a indentured servant to the banks any longer .

 

 

I respect your opinion, however, without access to the bank's cash, what's left of the manufacturing base of this economy would crumble.

 

Just from my narrow point of view, the automobile industry would be destroyed, and the trickle down effect would be catastrophic. Direct jobs lost, suppliers jobs lost, etc.

 

From a corporate standpoint, what about access to fresh capital for expansion?

 

Is your point a personal one or an abstract overall outlook about the necessary evil that is a bank?

 

Can you elaborate a little bit on your point of view?

 

[HAOLE]

I respect your opinion, however, without access to the bank's cash, what's left of the manufacturing base of this economy would crumble.

 

Just from my narrow point of view, the automobile industry would be destroyed, and the trickle down effect would be catastrophic. Direct jobs lost, suppliers jobs lost, etc.

 

From a corporate standpoint, what about access to fresh capital for expansion?

 

Is your point a personal one or an abstract overall outlook about the necessary evil that is a bank?

 

Can you elaborate a little bit on your point of view?

 

 

My outlook is long term. I do see your points of view with reguards to the economic issues. However with the structure of our system a crash is going to be in the near (10-20 years) future. I am not sure how long we can create money from nothing and pay interest to the Fed reserve for the cash that has no value. I think we need to go back to our constitution and use it.

 

Either way, our system will have to change. Neither alternative, system wide crash or return to the gold standard will be painless.

 

I am not saying that banks are all bad, I just don't like the current structure. It seems unconstitutional to me.

[Science Abuse]

Why do you hate America? Stop being defeatist, that's what the terrorists want.

[HAOLE]

Why do you hate America? Stop being defeatist, that's what the terrorists want.

I think you may have missed my point....

 

I just want us to go use our constitution.

[Science Abuse]

I think you missed my point: I'm kidding around. There is nothing productive to post, because it's hopeless.

[HAOLE]

I think you missed my point: I'm kidding around. There is nothing productive to post, because it's hopeless.

You might be right

[morabu]

damn interesting videos

scary shit indeed

[Tractor]

Yeah we have a money problem and I'm pretty sure at least most of the republican law makers are aware of it and are working on it. We are probably seeing some of the beginnings of our progress right now with the "war on terror." I'm also betting alot of unpopular decisions (at least from the perspective of short sighted folks and foreign people) will have to be made in the next 25 or more years. We will hear the arguments and feel the pain and only history can be the true unbiased judge as to any of what we do to preserve our nation was worth the risk/damage.

 

One thing I'd do if I was a democrat for sure is think very hard about why the people you elect seem to work very hard at fighting the republicans for power and attempt to bankrupt the rich with social programs. Someone should tell them to work on a plan to make sure we remain the greatest nation on the planet. My self I see only a military solution to that at this point and from what I'm always watching on the military documentaries I must not be alone in that thought. We are being allowed to see some really amazing stuff and everyone should know that we only get to see old declassified ideas. It makes me think we aren't that bad off, but again I think some serious decisions will have to be made in the not to distant future. Perhaps even our life times.

 

Evan

[supldys]

haha. its a private bank and no one knows who owns it! its a conspiracy, the government is a partner in this evil cartel!

I knew as soon as I saw Ron Paul in that video that it was a bunch of crap

[HAOLE]

haha. its a private bank and no one knows who owns it! its a conspiracy, the government is a partner in this evil cartel!

I knew as soon as I saw Ron Paul in that video that it was a bunch of crap

Put your nomex underwear on... the flames will be coming.

[Conesmasher]

This first video is INSANE. I don't believe that the middle class is suffering, I don't believe it for one bit. All I hear is a bunch of whiney people saying they can't afford stuff. Our parent's (excuse me for paraphrasing) have raised(alot) of us with this feeling of entitlement.......as if we deserve more than they had......when really, we don't. I don't see the middle class suffering, I see the lower class pretenders wanting to know why they are slipping away.

[Conesmasher]

I love this topic and thank you for bringing it to my attention. Here is a paper I wrote about 2 years ago, explaining what happened with Nixon and the gold standard. It's amazing how 30 years will allow people to forget the problems of yesterday, ie inflation and unemployment.

 

On August 15, 1971, President Richard M. Nixon made an announcement to the world that would forever change the way that monetary policy would operate. The gold window of the United States was closed. Residents of foreign nations would no longer have the ability to convert a fixed amount of U.S. dollars into gold. President Nixon was attempting to fix the international monetary crisis that was occurring year after year. By eliminating the gold standard, Nixon hoped to put an end to the monetary speculation associated with the gold standard. The Vietnam War was ending and Nixon was very focused on growing America’s economy. Nixon was also very focused on attempting to minimize inflation on the U.S. dollar. The years following the repeal of the gold standard proved to be a stepping-stone into a more stable monetary policy. Inflation has been stabilized and the U.S. economy has gone through one of its greatest expansions. The revision of this monetary policy has increased the level by which the U.S. can increase its monetary supply, fueling growth for the future.

 

President Nixon’s main concern with the gold standard was the monetary speculation that was occurring in the international monetary community. In the seven years prior to 1971, there had been around one monetary crisis per year. These crises were shaking the stability that the American dollar had established in prior years. The largest fear was a gold rush. This was not a typical gold rush, by which gold is discovered, it is a gold rush by which holders of American securities or American dollars would demand their payments in gold. The mere speculation of this rush had inspired money speculators that the United States would not be able to redeem their currency for gold based on the standards set at the Bretton Woods agreement.

 

Growth of the economy was also on the president’s mind. United States armed forces were returning to the workforce after the Vietnam War and many of them were finding it troublesome to secure a place of employment. With the gold standard in place, the United States had a limited supply of dollars within the economy. The limited supply of money also limits the amount of jobs available to the American worker, thereby not allowing an economy to achieve full employment. The gold standard monetary policy has a history of high unemployment. With the repeal of the gold standard, Nixon hoped to achieve lower unemployment throughout the economy. In the years following the repeal of the gold standard, the unemployment rate has decreased dramatically. This decrease in unemployment has led to large economic expansions and the resumption of prosperity in America.

 

The gold standard was a major hindrance to the domestic monetary policy. By limiting the amount of money that was able to flow through the economy, the creation of money was pegged to the founding of gold. Therefore, the only item that could truly inflate the price of the dollar would be the discovery of gold. When there was more gold available to the United States, there would be more currency allowed to flow into the system. President Nixon was strongly opposed to this system as it limited the amount of credit that could be given to the government, business, and the American public. With the repeal of the gold standard, the American government could appoint someone to take control of the domestic monetary issues. Credit creation is a large factor in the growth of the U.S. economy since the demise of the gold standard in 1971. While credit creation can be a problematic factor for few, overall the benefit has been extraordinary.

 

Inflation of the U.S. dollar had long been on the minds of the U.S. citizens. President Nixon was hoping to minimize those fears based upon the new standards of the monetary system. While the inflation during the implementation of the “classic gold standard” was nearly non-existent, the inflation during the Bretton Woods gold standard had been more than what was intended. The intention of President Nixon was to allow the Federal Reserve attempt to control the rate of inflation. During the years following the implementation of this new monetary system, the rate of inflation rose to extraordinary heights. In the early 1980’s, the inflation of the U.S. dollar finally achieved a reasonable rate. The new monetary system began to operate efficiently and confidence resumed in the U.S. dollar.

 

Under the gold standard, the short-term stability of the U.S. dollar was compromised. The value of the dollar was highly affected by gold and capital inflows and outflows. Under the gold standard monetary shocks and real-world economic shocks, greatly affected the monetary system in one country, which then resulted in a domino effect in other countries. The international monetary community rested upon the back of the U.S. dollar and the British pound. If one of these economies happened to suffer a severe economic blow, the rest of the world would have been highly affected.

 

The transition from the gold standard to the float has brought nothing but reality to the U.S. dollar and other major worldwide currencies. Instead of having to devalue the dollar and maintain the balance of payments through gold, the float system allows the dollar to change value based upon its real value and not the value of the speculators. The dollar changes in real time in relation to the other currencies of the world. While this method of monetary policy resulted in strong inflation in the years that followed the repeal of the gold standard, this change has leveled off and monetary stability has remained largely. The instability of the dollar in the years that followed was a result of the dollar needing to be devalued to its realistic level. Since the early eighties, the dollar has remained the strong currency of the world and has not been subject to the great shocks that occurred while on the gold standard.

 

The change from the gold standard has had a definite positive impact on the U.S. dollar as well as the world’s currencies. Credit creation has become a basis for growth and revitalizes a very popular business saying, “It takes money, to make money.” Monetary speculation may have not come to a complete halt, but it has decreased dramatically. The value of the U.S. dollar is always known based upon the value of its float in comparison with other countries. Inflation has finally come into check and has not seen any dramatic increases or decreases since the end of the 1970’s. The U.S. dollar has remained one of the most stable currencies in current time. The repeal of the Bretton Woods agreement has allowed the world’s currencies and economies to become more efficient and more effective, while allowing the dollar to remain the backbone of the world.

[RS69]

It is pretty bad, the Canadian dollar = the US dollar

[SPLN SUX]

Crikey

 

SOme of the questions he was asking, the guy was never in the same room as the person he was intervewing. The backgrouund would totally change with each cut so who knows what question was asked really. I don't know what to believe anymore, every day more and more I want to pack up and leave this country to live somewhere else.

 

if you want to roll to Canada and need a roommate, give me a shout

[HAOLE]

This first video is INSANE. I don't believe that the middle class is suffering, I don't believe it for one bit. All I hear is a bunch of whiney people saying they can't afford stuff. Our parent's (excuse me for paraphrasing) have raised(alot) of us with this feeling of entitlement.......as if we deserve more than they had......when really, we don't. I don't see the middle class suffering, I see the lower class pretenders wanting to know why they are slipping away.

I don't agree with all aspects of the video... I agree with you as far as the middle class is not really suffering. People tend to live larger than they should. No one needs an Escalade, but many believe they deserve one.

 

The biggest thing i wanted to get across to people is the dangerous fractional reserve banking system, and how money is created from nothing. It think it is scary that our country has no reason for the value of our dollar other than faith. The faith is starting to slip everyday, look at the Canadian dollar, we were once 1.5:1 (CN to US) now were are 1:1.

[blueG60rado]

Revelation 13:16,17 refers to people being forced to have a mark on their right hand or forehead in order to buy or sell. This shit is in the Bible.

 

Every time I start talking about the Fed or North American union stuff to my friends they get a glassy eyed look and think I'm a crazy conspiracy theorist.

 

We now live in a facist state controlled by aspiring world rulers and nobody is going to do a fucking thing about it.

 

What is scary is the internet is the only source of unbiased information. Every other form of media is already bought and paid for.

 

These elite people trying to obtain world supremacy are incredibly evil people who wish to subject humanity to consenting servitude. I conjecture they are the Beast spoken of in Revelation.

[supldys]

Revelation 13:16,17 refers to people being forced to have a mark on their right hand or forehead in order to buy or sell. This shit is in the Bible.

 

Every time I start talking about the Fed or North American union stuff to my friends they get a glassy eyed look and think I'm a crazy conspiracy theorist.

 

We now live in a facist state controlled by aspiring world rulers and nobody is going to do a fucking thing about it.

 

What is scary is the internet is the only source of unbiased information. Every other form of media is already bought and paid for.

 

These elite people trying to obtain world supremacy are incredibly evil people who wish to subject humanity to consenting servitude. I conjecture they are the Beast spoken of in Revelation.

 

I agree with your friends

[SpaceGhost]

if you want to roll to Canada and need a roommate, give me a shout

 

My health INS is over 600 a month, Canada looks better and better everytime I see this deducted from my paycheck, Fuck I could afford a 08 Z06 if I had free healthcare......