What is Digg?268 Comments
- inactive, on 02/20/2008, -12/+145The Federal Reserve creates money out of nothing - basically they have the right to counterfeit money and charge interests on it. So "borrowing from the Federal Reserve" is a rather deceptive term that clearly aims at fooling the general public so that this highly profitable scam and unconstitutional operation remains in the dark.
http://video.google.com/videoplay?docid=6507136891 ... - DRINKxREDxBULL, on 02/20/2008, -6/+107Once again, big business uses the power of government to bail themselves out from ***** business practices - all at our expense. Most of these cooperations would not be able to exist without the government there to protect them.
- inactive, on 02/20/2008, -2/+52Hard to claim success at anything when your 9 trillion + in the hole !
- inactive, on 02/20/2008, -2/+48What type of collateral is required for these loans? What are the terms, and what banks specifically are borrowing the money?
Oh, we don't know because they are using the new TAF system that was put into place to provide anonymity to those troubled banks that are borrowing? Well in that case, I guess I'd consider it a socialist program and not a "loan". Good bye free market transparency, hello moral hazard. - bunki8, on 02/20/2008, -8/+49Agreed. Capitalism my ass.
- Metalmoon, on 02/20/2008, -2/+41The Federal Reserve is not a government agency.
- swaggadocio, on 08/20/2008, -2/+35No wonder the Dollar is in the *****.
- verusdies, on 02/20/2008, -10/+41All I see is a big puppet show
Bush said earlier today that the reason for our economic crisis is because "we are building to many houses"...what the *****! - inactive, on 02/20/2008, -6/+33Here comes another Ronny Reagan and Poppy Bush style pillaging of the treasury, then a massive bailout courtesy of the USA taxpayer. Bend over, America.
- masterwalls69, on 02/20/2008, -15/+38Go Ron Paul...you are our only hope it seems.
- GhostyBoy, on 02/20/2008, -0/+23The central bank scandal can only gain power for as long as it is allowed to continue.
It looks like the banking cartels may have a monopoly on the military industrial complex, the mainstream media, the telecoms and at this rate they will have an *****-load of property too.
Oh, and congress has been acting a little strange, too, but then again they aren't for sale, right? - macman2k, on 02/20/2008, -6/+26it was created with government authority, but given private control. It's products are declared official Legal Tender and those who attempt to use other money are attacked by the government. You might as well call it a government agency for all the practical difference it makes.
- GhostyBoy, on 02/20/2008, -4/+22I love it!
3 candidates left. McCain is an idiot who will be easily controlled by the highly intelligent bankers, Hillary knows exactly how the game works and that's just fine by her, and Obama....well.....I don't know if he knows what he is getting into, cause I sure as hell haven't heard him mention it. - AriaStar, on 02/20/2008, -4/+20Our tax dollars supports them while they ***** us over. I expect the orgasms of my life for what I'm paying toward this. At least my vibrator gets me off, and it was only $8.
- vendico, on 02/20/2008, -5/+20/sarcasm Glad the media is telling me McCain will fix it all.
- scootscr15, on 02/20/2008, -2/+16Depression is on the way, better get yourself something of real value. Like bullets and bacon. Haven't you seen "I am Legend?"
- 55mph, on 02/20/2008, -4/+17the money is a gift to the Fed's primary shareholders. No Joke. *****, they own the Fed!
and you thought the Fed was part of the US government? nope, it's a private corporation. - BuckQJohnson, on 02/20/2008, -4/+17They want to be able to borrow money without anybody knowing who is borrowing, talk about transparency.
- obliviousfool, on 02/20/2008, -1/+14You've spouted a fallacy. You've given a false choice.
Doing away with the Federal Reserve ...does not equal returning to the gold standard!!! - tj111, on 02/20/2008, -10/+23The Federal Reserve is about as "Federal" as Fed Ex. It in itself is a big business, who makes money by loaning money. Simple principle, create something with value, hold a monopoly over said item, and lend it away at interest to the world. Sit back and profit.
- inactive, on 02/20/2008, -2/+14They are nothing but puppets of the central banks and major corporations. The answer doesn't lie so much in who is president as it does in who controls the money supply.
The Fed is unconstituional and answers to nobody. The combination of the two have proven disastrous. The constant lowering of the rate is propping up the market but will make for a much bigger crash when the inevitable crash comes. - bphicke, on 02/20/2008, -1/+12That would require him talking about real issues.
- TeacherOfHeroes, on 02/20/2008, -1/+12It's a twisted way to phrase it, but it's essentially accurate.
Fed pumps in lots of money at low interest rates to boost economy after the dot-com bubble burst, and banks start lending tons of money to poor people who really shouldn't be getting loans, but hey - the banks have all this money from the federal reserve to lend out, why not?
As the fed pulls money out and raises rates to prevent this bad lending from continuing, interest rates on variable rate mortgages start to go up again, and people start defaulting on their loans. All of a sudden, there are all these houses being repossessed and/or resold at low low prices, and the housing market collapses.
So yes, you "are building too many houses" - but you're building them because of an absurdly and artificially high quantity demanded. - GhostyBoy, on 02/20/2008, -6/+17Get ready everyone, cause the ***** is about to hit the fan.
(Hint: The clever ones are buying gold and telling you the gold standard is a silly idea.) - TWGMichael, on 02/20/2008, -0/+10The Creature from Jekyll Island : A Second Look at the Federal Reserve http://www.amazon.com/Creature-Jekyll-Island-Feder ...
- EsotericBoredom, on 02/20/2008, -0/+10A major point here (please correct me if I'm wrong) is that the banks are borrowing money from themselves but insuring against the taxpayer. Major banks have accounts at the FED of which they pull funds to fill their day to day operation needs at a branch level. Its seems to me it's like borrowing from your 401k plan but putting your neighbors car up for collateral.
- MyBacchanalia, on 02/20/2008, -3/+13It's the Federal Reserve that has the government by its bollocks, by the way. To think our elected officials represent us when far greater economic and political forces are creating their opinions is naive. The most powerful men on earth are not the presidents and prime ministers... it's the bank owners, the money lenders. Politicians technically should have their constituents best interests in heart; if they actually ever did, how could anyone ever have voted for that war?
- PeppermintPig, on 02/20/2008, -2/+11Sadly, it's we, the American people who are bailing out the banks. The Fed only printed the money, but the value is being taken from everybody else. It's a tax, without question!
- macwac, on 02/20/2008, -2/+11I know its been said before by others.. but i will say it again.. Ron Paul is the only person who will do anything about this. Forget the three other candidates, none of them have mentioned anything about the economy.
- ryleyleckie, on 04/10/2008, -9/+18um, zeitgeist
- Gerz1219, on 02/20/2008, -3/+11Well, couldn't we at least make it a government agency accountable to the public? All we get are smug "trust us" babblings before Congress.
- NewGTGuy, on 02/20/2008, -3/+11Dude, the Fed caused the great depression! As soon as they gained control (1913) they massively increased the money supply (roaring 20s) then they started calling in all of the margin loans (stock market crash). Then when everyone was already *****, they shrunk the money supply (dipping us into depression).
The Fed is NOT our friend. Wake the ***** up bro! Debt based fiat currency creates slaves! - inactive, on 02/20/2008, -0/+7No, no, and no. The Federal Reserve is a wholly owned private company. The USA pays this private company (in the form of interest on the money loaned to the USA). Now the USA can't pay on this loan... other than with the same money lended to it, by the Federal Reserve. This creates a perpetual debt to the Federal Reserve (central bank).
Legal Tender in America has meant crap since the abolition of the gold standard.
Banks also can't just borrow money. The Federal Reserve retains ultimate control on how much of its money is in circulation (more currency 'out there' results in the USD being worth less, and vice versa). The board of directors on the Federal Reserve, and other central banks, use these schemes to control an entire nation's economy, it's government, and it's people.
With enough money you can buy anything. - Darph.Bobo, on 02/20/2008, -4/+11If you're too stupid to know how your government works then you're too stupid to be voting on anything.
Since the Federal Reserve was established in 1913 it's unlikely anyone on Digg would directly recall anything about the establishment of the Federal Reserve.
It's idiots like you that don't know how the government works and then vote for politicians based on number and sex appeal of their billboards that put our government in the condition it's in now. - siszam, on 02/20/2008, -2/+9Anyone who has ever taken a brief look at a history can see this coming on like a freight train. Get a clue.
- towersofdub, on 02/20/2008, -1/+8Assuming you're talking about US national debt, it's more like $45 trillion. The GAO is very selective in its accounting... we are well and truly f*cked.
- jjmckay, on 02/20/2008, -0/+7Cool. bookmarked comment.
- SwimGeek0607, on 02/20/2008, -3/+10How does a new $5 bill to prevent counterfeiting help when our money already isn't worth anything anyway?
- digindrivefast, on 02/20/2008, -1/+7April 15th.
- defconoi, on 02/20/2008, -4/+9THIS IS ONE OF THE MAIN REASONS RON PAUL IS RUNNING FOR PRESIDENT, TO SAVE THE USA FROM ITS IGNORANCE AND STUPIDITY, SAVE THE COUNTRY! SAVE YOUR COUNTRY! VOTE RON PAUL !!!!!!!!!!!!!!!!!!!!!!
- CrazedLeper, on 02/20/2008, -1/+6"I was saving that bacon."
- obliviousfool, on 02/20/2008, -0/+5Dugg for the $8 dollar orgasm. If only everything were so simple...
- midbc, on 02/20/2008, -1/+6if only there was someone running for president that was against the federal reserve
- dealseeker, on 02/20/2008, -2/+7Do you recall voting on ... anything ... related to the Federal Reserve?
In a "democracy", "government" is supposed to be "elected". - VenDrake, on 02/20/2008, -2/+7>> "U.S. banks have quietly been borrowing..."
WTF is "quietly" supposed to mean except, "We're trying to make this look like a scandal." - Ocelot13, on 02/20/2008, -2/+7thats the counterfeiting measure. you wont want to make fake worthless stuff, now will you?
- zanzzz, on 02/20/2008, -1/+5The declining value of the dollar is the other end of the hidden tax.
- lordshank, on 02/20/2008, -2/+6Anybody else wanna play Guy Fawkes?
- Biznaka, on 02/20/2008, -1/+5And this is news, how? This has been going on since the start of the Federal Reserve....
- inactive, on 02/20/2008, -1/+5Wow. This is the most blatantly incorrect comment I've seen all day. I'm not saying that our current government isn't doomed to failure, but I just can't help but correct your posting.
Here are just a few examples of governments that have gone past 200 years. Some existed for over 1000:
Roman Republic
Roman Empire
Byzantine Empire
Ottoman Empire
Xia Dynasty
Shang Dynasty
Western Zhou Dynasty
Eastern Zhou Dynasty
Tang Dynasty
Ming Dynasty
Qing Dynasty
Tokugawa Shogunate
Holstein-Gottorp-Romanov dynasty
Holy Roman Empire
The Holy See (the Vatican)
Here's a list of many others, including about 100 more governments that have lasted over 200 years:
http://en.wikipedia.org/wiki/Dynasty
The US is still a relatively young country. -
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