i feel like i have a somewhat strong foundation on the history of the federal reserve bank. but almost all of the history sheds a negative light on its existence. from the founding fathers battling it, to lincoln and andrew jackson battling it, and then a law seemingly pushed through quickly in the early 1900s and the "evil" rothschild's and their ilk controlling the world.

but in my research it is hard for me to find the ardent supporters of a privatized bank controlling the printing of the usa's money.

so for the enlightened...please do me the favor of explaining why in fact the federal reserve bank is a positive for the USA. why was it rightfully created? why has it been maintained for the best interests of the american people?

i have heard the negatives. please tell me the positives or point me in the right direction to find this information. thanks.

good post

www.google.com

yw

The existence of the Fed and our fiat currency helps fight inflation or deflation when necessary and promotes economic stability.

Grunching...

Hellicopter Ben is having a bake sale?

No, selling FEDSTRONG wristbands.

And.......if you don't believe Iron81, just ask a retiree, who has been living on SSI & his/her retirement from their job for the past 15 years. They can explain how the FED has made it possible to live just as comfortably as they did when they first retired.......

we see the bank bailouts and the quantitative easing...and the majority chorus seems to be in complete disagreement with these activities. i have seen the ron paul information. it just seems to me that if the fed was the most legitimate entity then there should be logical arguments for why our own government does not handle the prinitng of our own money. i am not naive enough to think that corruption wouldn't penetrate if the alternative was the reality. it is just that i have googled it as suggested by a previous poster and i find it extremely difficult to get clear and simple reasons for the establishment and maintenance of the fed. it is easy to bad mouth the institution if you find it disagreeable. but if its current form has existed for 100 years now there just has to be politicians and bankers that present cogent arguments for the system to be the best scenario under the given circumstances.

Correct and unfortunately their loose monetary policy and credit has ****ed us sideways now and will continue to do so for the foreseeable future. The greatest generation had the best retirement, the baby boomers had the best career years, generation y had the best childhood. We've peaked now though and it's a nice downhill slide back to a more moral and plain existence. Kinda like how the 20s vs the 50s. All of us who are 20-30 get to work through some serious pain now b/c of the fed.

On a more serious note, here is a dialogue between two libertarian-leaning economists on whether or not the U.S. has been better off with/without the Fed. AFAIK, they are not Austrians but sympathize with some of their ideas

http://www.marginalrevolution.com/ma...n-the-fed.html

hmmmm...

Jiggs showing some self-awareness and poking fun at himself?!?!?!? Surely not!

Hey Jiggs I'm sure the answer to this is obvious but I figure I'd ask (since this thread is pretty lame anyway).

Have you seen the documentary "Collapse"? It's pretty much an interview of Michael Ruppert and how peak oil ties in with the collapse of society as we know it.

I just watched it last night and it put me into the same paranoid de-motivated mood I was in when I saw Aaron Russo's Freedom to Fascism a few years ago.

Could the fed not provide us with the services they provide without charging us interest on OUR money?

I don't know anything about the federal reserve. Ok I know a teeeny weeeny bit but not gonna pretend like I'm knowledgeable enough to say anything about it, unlike some people *cough*.

end the feed 'mon

peak oil - please....taking this thread to a new low.

here is a thought for americans......how about paying your bills? That would be a place to start.

Believe it or not but all it takes is some research to see what needs to be done in order for us to get bigger and better and then to see the exact opposite is getting done. And it has nothing to do with peak oil. I call it peak debt.

There is no growth without the expectation of "more tomorrow."

The Fed also oversees the safeguarding of the National Strategic Unicorn Reserve.

U.S. Govt. calls FED & advises they need to borrow 10 billion. FED advises that they don't have the cash on hand & that 10 billion will have to be printed.

U.S. Govt. calls U.S. Printing & tells em to print 10 billion and ship it to the FED. The FED calls the U.S. Govt when they receive it & advise that they can make the loan at X% per annum.

The U.S. Govt. thanx em' for the loan & the banks rake in 100 million a year in interest for every 1% they charge in interest on money that they never had until the U.S. Govt printed it.

I'm of the understanding that's one of the functions of the FED. Loaning us the money we print.

And, the FED has no competition, because I would surely loan it to the Govt at a discount to what the FED would charge. Having the cash available isn't a problem, since the govt. is going to print it for me.

Might explain why all but 5 countries in the world are in debt & that the 5 that are not, do not hold much of the debt that the others owe.

Not really. That has changed recently with the advent of Quantitative Easing, but in general the Fed does not loan money to the government.