Creature from Jekyll Island 3 of 12

A Second Look at the Federal Reserve

Category:

Education

Tags:

• Federal
• Reserve
• G.
• Edward
• Griffin
• Jekyll
• Island

[bahnscott]

Thanks for posting this.

[kasdri]

America is not the best country in the world . I never thought i would say something like that.

[jimmyrtle]

@grifflesnaffle If the government stops borrowing new money, why can't they pay back the old?

[HigherPlanes]

@carnivaljunkie The US is no longer #1. China claims that place right now.

The US stopped being #1 when they started thinking locally and fucking globally.

[enduro130]

Then see "Money Masters" it goes deeper into what built up to

the creating of the FED and the mess we are living in today.

[xYouthAttackx]

@kasdri it used to be. id say before the fed and corporations took over the country.

[carnivaljunkie]

@kasdri It's time for the rest of the US to realize this. If we're going to keep on idiotically spouting "We're #1!", we need to start acting like it.

[ExquisiteDoom]

@grifflesnaffle Monetarily it cannot be repaid, but in credit and assets, it can. I don't think you understand how defaults function, if you did you would understand how a government can simply sell the land it sits on to repay this devalued debt( remember, as the debt grows bigger it loses value as well).

I don't think it's going to happen that way though, and in no way do i support the fed. People divert the blame from the government to the fed when the gov has much more power. Legal tender!

[grifflesnaffle]

@ExquisiteDoom The reality is that the debt to the Fed can NEVER actually be repaid, because the Fed creates the money and then loans it to the government to be repaid at face value PLUS INTEREST. Therein lies the impossibility of ever repaying the loan. Kennedy announced his desire to have Congress (NOT the Fed) resume creating our money. And he actually caused many millions of U.S. DOLLARS (not Fed. Res. notes) to be printed. Regan voiced the same intention. What happened to them? SHOT!!

[rubbersole79]

It just hit me. This guy sounds like that narrator on "Jonny Quest"



[postrealitysyndrome]

@postrealitysyndrome

Growth and prosperity was due to a technical vaccuum waiting to be filled and the ingenuity of certain people, but there was also open, unclaimed space, more geographic freedom (when the natives were removed). Don't get blinded by the religion of free markets. You can't argue that a great period of growth was due to free-enterprise competition, then deny that further growth occured during the control of a cartel. Don't fish for this red herring.

[postrealitysyndrome]

Not to negate or criticize Griffin's main points, but specifically, the social-darwinian argument for unregulated free-enterprise competition is an oxymoron because you can't create regulation to make a free market free. You have to accept that collusion is one tool in the free market. Don't let market-capitalism be your "-ism." That's why I don't argue for "free markets," but fair markets with regulations that take into account the concerns of producers, consumers, and the environment.