rblgenius Posted January 7, 2012 Share Posted January 7, 2012 This films talks about the American Dream and how we live in this fantasy that we have more money than we did a few decades ago. Rather, our wealth is simply the result of inflation which is just another form of taxation for the government. This is a 30 minute long movie but it will change your perception on the Federal Reserve, our current system of credit, and why our current system is exactly what our founding fathers (in their senile wisdom) warned us about. I was skeptical of the message: "End the Fed" until I watched this. EDIT: Fixed link. THE MOVIE IS HILARIOUS TOO so you don't get bored like I do after 2-3 minutes. Link to comment Share on other sites More sharing options...
Prosperity Posted January 8, 2012 Share Posted January 8, 2012 well that's interesting. There's a lot about the Fed, that I don't understand. Strikes me as shady. I don't understand why the government needs a private entity to be it's bank. Why isn't the government the bank? What's the purpose of having the middle man? Link to comment Share on other sites More sharing options...
PeterMP Posted January 8, 2012 Share Posted January 8, 2012 The Fed isn't a private entity. The Federal reserve board of governors is appointed by the President and approved by the Senate. Profits made by the Fed are given to the government (after some money given to the individual banks). The Fed was created by a law onf Congress and could be ended by one. There is also an effort to make the monetary policy immune from political decisionsa and so the Fed Reserve Gov are appointed for long terms and the member banks (not the reserve banks themselves) are private entities. Link to comment Share on other sites More sharing options...
Hubbs Posted January 8, 2012 Share Posted January 8, 2012 well that's interesting.There's a lot about the Fed, that I don't understand. Strikes me as shady. I don't understand why the government needs a private entity to be it's bank. Why isn't the government the bank? What's the purpose of having the middle man? The important function of the Fed isn't its role as the government's bank. It's its role as the central controller of credit, interest rates, and currency. The idea—which has merit—is that a quasi-independent agency is going to be more responsible with the money supply than politicians, who would be fine with printing money to pay for all sorts of pork projects. Of course, if the Fed is making decisions based on an economic philosophy that turns out to be wrong.... Link to comment Share on other sites More sharing options...
rblgenius Posted January 8, 2012 Author Share Posted January 8, 2012 The important function of the Fed isn't its role as the government's bank. It's its role as the central controller of credit, interest rates, and currency. The idea—which has merit—is that a quasi-independent agency is going to be more responsible with the money supply than politicians, who would be fine with printing money to pay for all sorts of pork projects. Of course, if the Fed is making decisions based on an economic philosophy that turns out to be wrong.... Exactly. What you have to realize is our current monetary policy system is not sound. If you want to know how to switch to a more sound economic policy, the problem lies within how we back up the dollar. The video discusses a little bit about how our currency (a paper note) is no longer backed up by gold (or another commodity that keeps its value stable). Here is a little more on how our monetary policy works: http://www.ronpaul.com/on-the-issues/fiat-money-inflation-federal-reserve-2/ Link to comment Share on other sites More sharing options...
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