Joseph Salerno "Unmasking the Federal Reserve"

http://www.f4fs.org in this video, Joseph Salerno speaks on the Federal Reserve, and exposes some of the fallacies regarding how the Federal Reserve functions, creates money, and controls the monetary system the United States. This video is from CPAC 2011.

For more information visit http://www.mises.org

For more videos like this visit: http://www.myfreesociety.com

Category:

Nonprofits & Activism

Tags:

• Federal Reserve
• Mises Institute
• Foundation for a Free Society
• Quantitative Easing

[zsylvana]

@CurtHowland Matthew Josephson, The Robber Barons: The Great American Capitalists, 1861-1901,

Allan Nevins, John D. Rockefeller: The Heroic Age of American Enterprise,

Alfred D. Chandler, "Comparative Business History," Enterprise and History

[zsylvana]

@gergenheimer

Also questionable is the idea, fundamental to Gold Standard’s ,that the inflow of precious metals into a country brings with it an increase in the money supply,following the principles of the quantity theory of money,that this increased supply is the source of a corresponding inflation of prices,if the economic conditions of a country (the value of total commodity circulation) don´t require an increase in the supply of money,then nothing will bring about an increase in that supply

[TheReapersSon]

@SkeksisRule

Giving someone the power doesn't mean it's just if their actions are detrimental to society. The Fed is a detrimental organization to the American people, has no interest whatsoever to preserving the way of life and quality of this nation, and I am in the camp who believes the FED should be abolished and its organizers should be convicted of high treason and put in jail.

The evidence is stacked high against the FED, but nobody does a damn thing about it. It's time for a change.

[thespacialone]

@SkeksisRule "If anyone else tried to print money like the fed they would be arrested for counterfeiting" is a poor argument, but also false. Counterfeiting means fraudulently imitating. There is no law to prevent you from issuing your own currency so long as it is materially distinct from Federal Reserve note and coin.

As you may know, the effective cartel arrangement the Fed enjoys results from its monopoly position in being the only means of exchange good for the payment of Federal taxes.

[SkeksisRule]

I'll be the first to say that the fed is a scam, but his statement that "if anyone else tried to print money like the fed they would be arrested for counterfeiting" is a poor argument. The fed is authorized to print money. It's the same as if you said "if any regular citizen tried to go around arresting people they would be put in jail for impersonating an officer. Well yeah, no shit. Only officers sanctioned by the state are allowed to make arrests and enforce the law.

[zsylvana]

@gergenheimer

The theory was also static,indicated amongst other things by Ricardo’s view that it was perfectly possible for countries to invert their specialisms.Smith and Ricardo wrote in the period prior to the introductio of mass production and the possibilities of taking advantage of the economies of scale. However realistic this particular assumption might have been it was increasingly undermined by the penetration of mechanised forms of production into more and more areas of the economy

[zsylvana]

@gergenheimer .

The weakness of the restored Standard can be seen in the fact that it could not re-establish the circulation of gold coin (specie). Gold was almost entirely removed from domestic circulation and concentrated in the hands of the state where it became world money, a universal means of payment in the international economy. This system, brought into being with such problems and sacrifices, could not endure for more than a few years.

[zsylvana]

@gergenheimer City of London,dependent on a strong currency,refused to accept this and every effort was bent towards-bringing back the conditions which obtained in 1914.Under the supervision of Churchill,restoration of the Gold Standard involved a savage deflation in order to force prices down,jack up the exchange rate and bring about an improvement in the external payments position.The cost,as Keynes warned,was a price level which made British exports uncompetitive in world market