Would it concern you if the Fed caused the Great Depression?

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Re: Would it concern you if the Fed caused the Great Depression?

PostBy: Flyer5 On: Thu Mar 28, 2013 8:36 am

waldo lemieux wrote:Say it aint so, a republican did this awful :poke: deed. That guy saying "I am not a crook" is like some guy in a bar telling you he's got a lot of money....... :yearight:

Was nixon a true republican?
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Re: Would it concern you if the Fed caused the Great Depression?

PostBy: lsayre On: Thu Mar 28, 2013 9:32 am

In the end, the root of all of our economic woe comes down to two little words: "Legal Tender"

Why do we need "Legal Tender"? Why not let the instruments that represent wealth (money is not wealth, but merely its representative) arise spontaneously, and let man be free to choose his own representatives of wealth. A recent example of this would be the bitcoin.
Last edited by lsayre on Fri Mar 29, 2013 5:47 am, edited 1 time in total.
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Re: Would it concern you if the Fed caused the Great Depression?

PostBy: jpete On: Thu Mar 28, 2013 9:53 pm

Holy crap Larry. This is the "land of the free" don't you know? You can't go around suggesting the people should have a CHOICE in things!
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Re: Would it concern you if the Fed caused the Great Depression?

PostBy: gaw On: Thu Mar 28, 2013 10:58 pm

I use tulip bulbs.
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Re: Would it concern you if the Fed caused the Great Depression?

PostBy: jpete On: Thu Mar 28, 2013 11:24 pm

More value than scraps of linen with random numbers stamped on them.
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Re: Would it concern you if the Fed caused the Great Depression?

PostBy: lsayre On: Fri Mar 29, 2013 6:12 am

The Royal wealth of the nation of England was represented upon wooden 'Tally Sticks' for centuries. Roughly from 1100 AD to 1834 AD. Money merely represents wealth. That was until virtually this very past/present decade, whereby it is now directly preceived that money is in and of itself wealth. We are so dumbed down at this juncture that we haven't a clue.
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Re: Would it concern you if the Fed caused the Great Depression?

PostBy: plumb-r On: Fri Mar 29, 2013 7:32 am

"samhill" what you were describing was nothing less than "UN Agenda 21" or sustainable development as they like to call it :o . They are the shepherds and we are the sheep and they want to herd us in to the city's where it is easier to look after all of us. The left is pushing this kind of social engineering in all the major city's they can. The black sheep's "those of us on the right" are resisting being told how, why, and where. :no1:
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Re: Would it concern you if the Fed caused the Great Depression?

PostBy: samhill On: Fri Mar 29, 2013 8:13 am

Plumb-r, what I'm saying is that this has been coming for a long time. I went to this seminar in the mid to late 90s & it was conducted by a professor of economics from Penn State. Basically all it is doing is completing a full cycle IMO, it is the way things were decades ago when people worked & lived in the same general area. When you think about it how much fuel is wasted going back & forth to work & instead of staggering work times it's still basically the worse certain times of the day in every populated area, some generations wanted some property (I'm one) & in many ways enjoy taking care of it but there seem to be many now that want nothing to do with any type of manual work & would rather live clustered in up scale apt.s or condos or if they happen to have property hire someone to even cut the grass & clean the pool. If it was as simple & easy as right or left it would be but it's what the people in true power want & all the pawns that refuse to accept that we have all been duped will just help them along & we will keep regressing rather than progressing.
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Re: Would it concern you if the Fed caused the Great Depression?

PostBy: lsayre On: Fri Mar 29, 2013 2:48 pm

Question for the day:

Why is it that an FRN that Ben Bernanke conjurs into existence out of thin air has the perecieved quality of being "worth something", but a quite similar overall Zimbabwe note (right down to how it comes into existence) is not worth anything?
Last edited by lsayre on Fri Mar 29, 2013 3:15 pm, edited 2 times in total.
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Re: Would it concern you if the Fed caused the Great Depression?

PostBy: franco b On: Fri Mar 29, 2013 3:10 pm

How can you keep hitting on a guy who is going to make us all millionaires?
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Re: Would it concern you if the Fed caused the Great Depression?

PostBy: lsayre On: Fri Mar 29, 2013 3:22 pm

franco b wrote:How can you keep hitting on a guy who is going to make us all millionaires?


Todays billionaire is the equivalent of your run of the mill millionaire from roughly 100 years ago, and (thanks to Ben) soon a trillionaire will be the equivalent of todays billionaire. Only this time it will not take 100 years, and on top of that, there won't be any trillionaires. Yes, even the rich are falling on hard times due to the perception of wealth replacing real wealth.
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Re: Would it concern you if the Fed caused the Great Depression?

PostBy: lsayre On: Sat Mar 30, 2013 6:12 am

Here is how we break the economic rules. We consume way too much that is produced by other nations, and we produce way to little within our own nation wherewith to balance the scales of both consumption and trade (thus the annual balance of trade deficit). And on top of that we fabricate way too much currency. Since productivity is wealth, and currency is merely its "fair" (as in honest and trusted) representative, how long can we fabricate currency in quantities that are vastly out of step with our true productive wealth creation before something goes seriously wrong? And just what could go wrong?

Since currency (money) is the "measure" of a nations wealth (and it used to be so literally by "weight measure", when it was gold and silver), it must be honest:

Leviticus 19:36 "You shall have just balances, just weights, a just ephah, and a just hin: I am the LORD your God, who brought you out of the land of Egypt."

Deuteronomy 25:15 "You shall have a full and just weight; you shall have a full and just measure, that your days may be prolonged in the land which the LORD your God gives you."

Proverbs 11:1 “The LORD abhors dishonest scales, but accurate weights are his delight.”
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Re: Would it concern you if the Fed caused the Great Depression?

PostBy: lsayre On: Sat Mar 30, 2013 6:21 am

Putting it all together: Is legal tender a brute force backed substitute for honest tender? And by what "measure" can a currency which has lost 97% of its purchasing power since its inception in 1913 (as measured by government CPI statistics) be considered an honest representative and storehouse of our nations productive wealth?
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Re: Would it concern you if the Fed caused the Great Depression?

PostBy: lsayre On: Sat Mar 30, 2013 7:26 am

There is hope:

Thiers’ Law states that: In the absence of effective legal tender laws, Gresham's Law [which in its short version states that "bad money drives out good money"] works in reverse. If given the choice of what money to accept, people will transact with money they believe to be of highest long-term value. However, if not given the choice, and required to accept all money, good and bad, they will tend to keep the money of greater perceived value in their possession, and pass off the bad money to someone else. In short, in the absence of legal tender laws, the seller will not accept anything but money of certain value (good money), while the existence of legal tender laws will cause the buyer to offer only money with the lowest commodity value (bad money) as the creditor must [by threat of brute force] accept such money at face value.
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Re: Would it concern you if the Fed caused the Great Depression?

PostBy: lsayre On: Sun Mar 31, 2013 8:54 am

There is in fact one heroic Congressman from the House of Representatives who is fully on the right track, but sadly his House bill is given only a 1% chance of ever getting out of committee, and a 0% chance of passage. Here is the act he has recently set before Congress (H.R. 77):

https://www.govtrack.us/congress/bills/113/hr77/text
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