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360 Comments
- kemp34, on 07/02/2009, -12/+243Any government-related entity that is resistant to a citizen audit is definitely worthy of a MUCH deeper look.
- Harboggles, on 07/02/2009, -11/+188I brought up the Federal Reserve scheme to my Economics teacher. She dismissed me as a conspiracy theorist and insisted that the Federal Reserve is part of the United States government.
- CurtHowland, on 07/01/2009, -19/+175"The Lying, Cheating Federal Reserve"
Redundancy! - goodinohio, on 07/02/2009, -7/+122She probably thinks the dollar is backed by gold.
- GTS42, on 07/02/2009, -20/+134Mises? On the front page of Digg? About time!
- NorthMass, on 07/02/2009, -9/+102Obama wants to give more power to the Fed, the same Fed that doesn't have to tell anyone where it lends $2 trillion.
http://www.bloomberg.com/apps/news?pid=20601087&am ... - NorthMass, on 07/02/2009, -8/+100It is not part of the government. As Dennis Kucinich said, the Federal Reserve is about as federal as Federal Express.
- halonumber14, on 07/02/2009, -4/+79all these comments and no solution...
SUPPORT RON PAUL'S BILL TO AUDIT THE FED
H.R. 1207 : THE FEDERAL RESERVE TRANSPARENCY ACT - accruels, on 07/02/2009, -35/+108yep obama bernanke and geithner are all in bed with each other so expect this ***** to happen till the sunshine act passes (if it does)
- inactive, on 07/02/2009, -18/+84To deal w/ this piece of sh*t country..
I have seriously given up on the notion that this country will ever be something that I can be proud of. Our government is run by a bunch of corrupt morons and it is supported by a bigger bunch of bigger morons who have no decent sense of right and wrong.
The only way to approach this country and all of the idiots in it is to use their own stupid policies against them to get richer and richer so that you have enough money that you never have to be in the same room as any of them and you don't have to send your kids to school with any of them, and when the time comes, you can move to Canada or Europe when things get even more crappy here.
So, bye bye hillbilly, Oprah worshipping freaks!! Keep buying yellow ribbons made in China to put on your SUV's to pretend to care about the troops. Enjoy your speudo-patriot-act-restricted-"freedom" in your illiterate, poverty stricken counties! Hope your 'prayer in schools' makes you feel better about how bad your lives suck!!! Hope you enjoy licking the bottoms of Prince Obama's shoes while you wear your size extra-large Walmart outfits and eat hamburger helper for dinner for the rest of your pathetic lives!!! Because you're too stupid to understand the Constitution, too stupid to understand high treason and too stupid to find the fvcking recruiting office or a library.
How do you nastyfux live with your own stench? - vermontr, on 07/02/2009, -6/+57I love seeing these. I'd swear the average Digg user knows more about the Federal Reserve than the average bank employee.
- TimtheTaxMan, on 07/02/2009, -6/+55I’m not going to say that the Federal Reserve is totally corrupt and diabolical like some of the conspiracy theorists. I am, however, very suspicious of any organization with the amount of unchecked power this entity has. If we simply returned to the gold standard, it would do much to curb the growing power of the Fed. They would no longer be able to create money out of thin air, which is the source of much of their power and controversy.
- NorthMass, on 07/02/2009, -2/+46Fed refuses to tell anyone where they lent $2 trillion.
http://www.bloomberg.com/apps/news?pid=20601087&am ... - johnnyg113, on 07/02/2009, -5/+48The president appoints the head of Federal Express? News to me.
It's a quasi public-private entity. Saying it's purely private or purely public are both wrong. - LinuxPerson, on 07/02/2009, -6/+47Criminal organizations by nature work covertly to subvert our best interests.
And before I get called a crazy for saying that, consider that the Bearded One is threatening economic collapse if the Fed is audited. - shanevc, on 07/02/2009, -2/+43End the Fed!
- consciouseffect, on 07/02/2009, -3/+44no he just lied many times during his campaign, im afraid obama is a "bad guy"
- borez, on 07/02/2009, -5/+45Well my friend, your economics teacher is a whole bucket of stupid.
- sHockz, on 07/02/2009, -7/+44Yea, ask congress to get rid of the M3 so we can see what kind of lying sacks of ***** the FED really are.
AUDIT THE FED!!!!! - depro9, on 07/02/2009, -10/+45Didn't Hitler try flooding the UK with fake bills? hmmm the fascists are still with us I see.
- Craig304958, on 07/02/2009, -5/+38I thought Obama was in favor of transparent government. Did he change his mind after the election?
- kemp34, on 07/02/2009, -3/+36So you are advising just shutting our brains and ethical models down because the truth would hurt?
The stock market is not inherently an emotional model, it just is at the time because our whole system is based on ponzi dynamics. Ponzi dynamics are not inherent to economic activity, but they are very prevalent in our current situation.
Ignoring that problem is NOT a solution and it amazes me that someone would seriously consider that.
If we close our eyes really, really hard, all our problems will vanish!! - NorthMass, on 07/02/2009, -3/+36You are right that the President appoints the head. But besides that the Fed basically does whatever it wants. They don't have to tell Congress what they are doing, they can do whatever they want. Alan Grayson asked where the Fed lent $2 trillion and they refused to answer.
http://www.youtube.com/watch?v=PXlxBeAvsB8 - PeppermintPig, on 07/02/2009, -8/+40I'd love to hear you explain how inflating the money supply is a 'good' thing....
- Shidell, on 07/02/2009, -13/+44CROOKS!
- siszam, on 07/02/2009, -3/+33Don't just let her get away with that. Prove her wrong.
- Harboggles, on 07/02/2009, -3/+32If by smart, you mean as ignorant as yourself. Then yes. She is very smart.
- murrdpirate, on 07/02/2009, -2/+30People: this is correct. Do some ***** research.
- accruels, on 07/02/2009, -15/+42let me guess you took macro in college? its probably Keynesian economics I took it too and its full of *****
- HardMoneyMan, on 07/02/2009, -4/+31This excerpt summarizes the article:
"What every government has done when it faces sizable deficits is to simply print the money. If America is facing a $1.8 trillion deficit later this year, then it will probably print (another) trillion dollars to finance this. And then, as a political reality, it will be impossible to significantly cut the deficit for the next year, and the year after, etc., etc., etc. In this way, our children do not get poorer in the future. We get poorer, here and now. But we get poorer by having our dollars worth less. We have a bigger quantity of dollars but a smaller quantity of goods." - gn84, on 07/02/2009, -2/+25This is not a partisan issue. Both Obama and Bush are guilty of continuing these policies. Obama has consistently supported Bernanke (a Bush appointee), and Greenspan (originally a Reagan appointee) was re-appointed by Clinton twice.
- Ineedanap, on 07/02/2009, -2/+24I don't think that word 'smart' means what he thinks it means.
- Feldon, on 07/02/2009, -1/+22the biggest lie wins
- davidrools, on 07/02/2009, -15/+36Buried for complete lack of explanation to demonstrate better understanding than article's author
- m3arvk, on 07/02/2009, -4/+25Dugg for truth.
- ZenMojo, on 07/02/2009, -1/+21Why would banks hire people who knew what they were up to?
- AvangionQ, on 07/02/2009, -2/+22The end result of fiat based economics always concludes with the debasement of the currency through end-stage hyperinflation ... once the vast increase in monetary supply trickles down to the consumer level, inflation works as an invisible tax which makes all goods and services higher in price without an equal growth of economic output, nor an improvement in wages ... historically speaking, a violent revolution usually follows -- this is something I would rather avoid seeing, so drastic steps may become necessary to sidestep this outcome; and a public audit of the Federal Reserve Bank seems the best and most likely solution ...
- PeppermintPig, on 07/02/2009, -5/+25/S ?
- goodinohio, on 07/02/2009, -5/+24240+ democrats and republicans in congress co-sponsored HR 1207 to audit the Fed. What wing are you talking about?
- m3arvk, on 07/02/2009, -2/+20The creators of this mess and their supporters should be the ones packing their ***** not the ones who are sane enough to see the value of pointing it out. Relaxing isn't going to solve a damned thing. We need people to start waking up and thinking and really holding the politicians accountable, which will never happen. The time where patience could have solved this country's problems has long since passed if there were ever such a time.
You are the unpatriotic one. You are too stupid to differentiate between justified dissent and a baseless attack. This country is ***** based on a person's right to criticize his/her government. Newsflash *****, YOU are one of the one's we're complaining about. How about YOU get the ***** out and take your self-righteous idiocy with you. - jcastillo81, on 07/02/2009, -1/+18END the Fed is more like it...
- Libertaire, on 07/02/2009, -2/+19Just audit them through and through. I'm no genius economist, but shouldn't that be the LEAST of what a government [for the People] should have the ability to do? I mean, using the analogy of a stake holder, wouldn't the People, as stake holders in the nation, want to know how their money is being managed? I mean forget about all the conspiracy stuff for a second. Wouldn't this be a reasonable expectation? Why is it that People have to scrap it out just to get an audit. I say again, audit the Fed and let the results speak for themselves whatever they may be. Forgive me for wanting to know what my central bank is doing with my money, geez.
Dugg for Mises. - kemp34, on 07/02/2009, -11/+28Please enlighten the minions oh lordmike.
- rmxz, on 07/02/2009, -1/+17"tl;dr ... economic lingo and me don't mix"
And that pretty much summarizes the problem with American society that got us into the financial crisis in the first place. - inactive, on 07/02/2009, -2/+18Dugg for "speudo".
- ostracize, on 07/02/2009, -3/+19Then she should have no problem pointing to the section in the constitution that describes it.
- Ineedanap, on 07/02/2009, -6/+21He didn't even RTFA, Im sure.
I don't care what your understanding is, going from around 1 trillion to over 4 trillion dollars in circulation within a very short amount of time does only one thing- devalue the currency.
Can't wait for my $1 to be worth $.25.. yippie, and all the while we are being told "you are too stupid to understand this horribly complex economic system". I call BS. It is being purposely made to be far more complex than necessary, so as to obfuscate and hide unsafe, risky economic policy.
LordMike can go DIAF, out of his soon to be worthless $$$$. - LinuxPerson, on 07/02/2009, -0/+15Based upon what the US Constitution says, the Federal Reserve is operating outside the law. Go checkout the powers of congress in Article 1...
I didn't say that the Fed is consciously trying to implode the economy like some are suggesting. I simply said that organizations which are clearly operating without constitutional authority will, by their very nature, not work in our best interest (regardless of intent).
Nearly every single instance of centrally run government organizations can be shown to be anti-liberty and working against the middle class. - madmanz123, on 07/02/2009, -3/+18Don't let facts get in the way of opinion Elbowman. Though Obama needs to do a lot more in this area, don't get me wrong. This problem is years and years old.
- bluto36, on 07/02/2009, -0/+15that was Oprah talking about the swine flu
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