Obama speaks to Congress

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Palley: Obamas speech didn't mention unions nor tackle the structural problems within the U.S. economy

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[volumedealer1]

We should have no taxes in pay checks the

FED RESERVE IS A FRAUD

[ryeguysup]

Audit the FED, audit the FED, audit the FED!

[SigalaSigala]

You can't threaten business on a daily basis and not expect negitive results. He has investors afraid to invest in the stock market because they're afraid they'll be next on Barry's chopping block.

Why do lawyers wear neck ties?

To keep the foreskin from rolling up over their heads.

[Lawlow1978]

riiight the dow dropped 6,ooo points because of Obama...and predicted his election since May 'o8. good one. Now shut the fuck up.

[SigalaSigala]

The Dow was at 13,000 in May 2008 before Barry Hussein became the frontrunner for the Demoncrap Party. Since taking the lead, the nomination, and 'winning' the election, the Dow has dropped 6,000 points. If that doesn't tell you something about the man, his vision, and the future of our country, then nothing will.

[WOLF333999]

Thank you for a civil conversation.

Indeed, time will tell. So far, the central banks are winning; and most now have favorable views of central power. I shall admit I can see why people think that way, and there are people who could do a fine job working at a central bank; but, frankly, an honest man or woman would admit it's a position of power that can easily be corrupted, and, even when intending well, any mistake can have huge consequences.

Take care.

PS: Thomas DiLorenzo. Learn.

[mikepalomino]

I guess it's safe to say you are a Jeffersonian in your world view of Banking being more dangerous than standing armies. :)

While I am a Liberal - I am one to agree with Hamilton is his view of banks. I think it was a central banking system that allowed for a stronger, integrated economy.

I guess we'll have to agree to disagree: I support the notion that that Article I's Necessary & Proper Clause gives Congress the right to establish a central bank.

I guess time will tell where things go.

[WOLF333999]

And to spell it out for everyone who tries to make sense of YouTube's commenting system:

All these thousands of banks can only coin gold or silver money. Of course, paper is allowed, but backed by gold and silver. Naturally, there will be good banks and bad banks, and the People will study them closely before trusting anyone with their hard-earned money. If a bank goes bust, too bad. The good banks remain alive. Natural selection. Fraud will be hunted down.

[WOLF333999]

Going line by line:

You say the Fed makes mistakes. In my opinion it's no matter of mistakes, but of immoral and/or intellectually supercilious conduct. No one should have the power to set interest rates at a national level and to create money out of nothing and charge interest on that nothingness. The Fed is a cartel, given life to by the government and protected by it.

Giving back to the People. What I mean is have thousands of banks, all independently run by private bankers, the People.

[mikepalomino]

I agree that the Fed in recent years has made mistakes; Prior to the crisis they should have raised interest rates to forestall inflation.

While I appreciate your democratic sentiment, I don't agree that giving it back to the People (if "we" ever had it to begin with - it's Congress' jurisdiction) is the way to go. People, even intelligent ones, are susceptible to "herd mentality" that can easily lead to panic.

I just don't see how this solution would work to prevent a future economic crises.

[WOLF333999]

Unfortunately, this gradual shifting of power isn't going to happen, I think. Most people don't understand, often don't want to think, there are hardly any leaders who could slam sense into the Congress, and you know how it goes: first the disaster has to strike, then action follows, often the wrong action (no understanding). You call the Fed a necessary evil. No, it is evil, plain and simple. The system will soon implode; and something worse is going to replace it. Your trillions are bullshit.

[WOLF333999]

Ah! So you know. Of late, there have been a few instances of impending panic and a run on the US dollar and other currencies. The central banks stepped in and prevented those. Then again, they themselves are the instigators of these massive panics. True, destroy the Fed all at once and the crisis would be enormous, worldwide. Many would die. That's why destroying it in one fell swoop would perhaps be too shocking. A more gradual shifting of power away from it, back to the People, is safer.