Happy 100th birthday Federal Reserve

[SlayerRondo]

Kasz216 said:

hysterianut said:

Kasz216 said:

People don't like the fed. I get that...

I don't see a better option however.

an asset based currency like the gold standard seems impossible in the modern world... and countries without central banks or that have had direct government control of them have been unmitigated disasters who end up selling out a countries long term future almost immediatly to get out of short term debt/be able to short term spend.

The Fed is really just like the Supreme court, and is independent for the same reasons. (Those who think it's not a government organization and is privately owned generally don't know what they're talking about... )

what do you mean by modern world?

technology changes but the fundementals remain the same

the central bank can be there but it should be under the tresury not above it controlled by international bankers.

and gold standard can easily function,it limits money printing.

 

all empires in history have had gold standard and still been empires and able to expand.

 

all FED and all the world organistions do is allow government spending on welfare state and they are taking the entire world into world communism,nothing else.

the entire economy today is rigged,not jst US economy but the entire world's economy.it is one big ponzi scheme

A)  A world in which the value of growth in services, virtual goods an manufactured products FAR exceeds the amount of hard resources required to value them.

B)  The Federal Reserve isn't controlled by international bankers.  The President elects the people who run the Federal Reserve.  Bankers and people with finance degress are often chosen because well... people with banking and finance degrees tend to know the most about   It's like complaining that a doctor was made surgeon general.

C)  There have been more products and wealth created in like... the last 20-30 years or so then have been created in the rest of human history.

A) The value of gold is determined by demand and therefore switching to a race resources backed currency would increase demand and allow the value of to rise to meet the need for it as a currency.

B) Yes the federal reserve is basically controled by the government and they are responsible for every major economic problem caused by the federal reserve over the past 100 years.

C) GIven the massive size of the worlds population, the number of people that have been stuck in poverty getting out of it and the level of technology the federal reserve has nothing to do with it.