youtube.com — According to Steve Forbes, editor-in-chief of business magazine Forbes and former Republican Presidential candidate (1996 & 2000), the Federal Reserve created the conditions that lead to the worldwide economic crisis that we are in.
Oct 24, 2008 View in Crawl 4
thinbevOct 26, 2008
We never had a "free market" since 1913. We have cronyism/corporatism; Big government in collusion with big business.When a government sponsored bank called the Federal Reserve, artificially controls our interest rates... That's not a free market.When our government created Fannie and Freddie, which helped cause all the high risk lending... That's not a free market.When our government promoted and passed regulations to increase home ownership to people who couldn't afford them... That's not a free market.The housing and banking sectors are two of the most government regulated sectors in our economy, and it's no wonder they've failed. The auto industry is also heavily regulated (It's failing). The airline industry (It's failing). The healthcare industry (It's failing). When governments get involved, they distort the marketplace and reduce competition, reduce efficiency, and reduce quality. Look at the technology sector. The tech companies don't have ANY government regulations... None! It's no wonder that they are introducing new and better products at rapid-fire speeds. There's tremendous competition, tremendous profits and their products get better and cheaper every year. (iPhones, Google, laptop computers, etc...) Governments use force and distort an industry and limit competition. However, if fraud was committed, we should use our court systems to prosecute those crooks on Wall Street. (Just like we did in the Texas courts against Enron).
3denOct 26, 2008
The order of events is extremely important -t he details we're talking about have geometric differences in their impact on things.What I've ofund, mostly, is that peopel who lash out at reserve banking only do so because, previously, they didn't know how money worked. They thought cash was some solid, never-changing thing that went into a vault. Okay-- really, they just didn't think about it that much.Then, one day, they find out how banks operate, and they are outraged, like they've somehow been lied to their whole lives.It's not a scam. It's not some get rich quick scheme. It's a type of montetary system, a way of doing things, of making money work for us - and it's worked fairly well. Certainly, there are other, probably better systems out there - but so far, everyone screaming at how evil fractional reserve banking is without really suggesting a complete altenrative.Yes, it inflates the money supply.. but that's now news! That fact was taken into account when the system was developed! It's an integral PART of the system - rather than having some central authority just handing out more cash to increase the supply.. it comes about through loans, which mean new business, new jobs... the growth of an economy.
thinbevOct 26, 2008
I know, you're correct. Hopefully Americans will wisen up and learn that we'd be much better off without a central bank. We wouldn't have run away government spending... Which means the government will be forced to live within its means... Which means less government and no wars... Which means peace and prosperity for our country.
kangalanatolianOct 26, 2008
You may not be able to afford that fancy foreign grown coffee soon, but they can never take your passion as long as you live.
northwatuppaOct 26, 2008
This account has been closed by the user
ereneeNov 10, 2008
Bankers did dream it up, international ones. The Creature from Jekyll Island. 1913. google it.
Closed AccountNov 28, 2008
END the FED! Support H.R. 2755: The Abolition of the Federal Reserve System!<a class="user" href="http://capwiz.com/jbs/issues/alert/?alertid=10887821">http://capwiz.com/jbs/issues/alert/?alertid=108878 ...</a>