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Federal Reserve Is A Ponzi Scheme
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The Federal Reserve — the quasi-autonomous body that controls the USs money supply — is a Ponzi scheme that created bubble after bubble in the US economy and needs to be held accountable for its actions, says Eliot Spitzer, the former governor and attorney-general of New York.
Spitzer recently told Bloomberg News that President Obamas regulatory reforms of the financial sector are irrelevant because regulatory agencies have not been enforcing corporate laws to begin with.
Regulatory agencies already had the power to do everything they needed to do, he said. They just affirmatively chose not to do it.
Spitzer recently told Bloomberg News that President Obamas regulatory reforms of the financial sector are irrelevant because regulatory agencies have not been enforcing corporate laws to begin with.
Regulatory agencies already had the power to do everything they needed to do, he said. They just affirmatively chose not to do it.
Aug 14, 2009 11:00 AM
Re: Federal Reserve Is A Ponzi Scheme
Its not even tax money like the guy said. its printed out of thin air.
By: poonhound
Re: Federal Reserve Is A Ponzi Scheme
In answer to the guy in the glasses at about 5:20, the Fed and the CIA are both independent agencies. If we're going to demand oversight for the CIA, we're certainly will demand it for the Fed.
And if asking questions and demanding transparency from the Fed "infringes upon their autonomy," then let's fire them. It's our money so f*ck 'em. We can (and should) print our own money without paying the Fed for the "privilege."
Plus this whole notion of secrecy is ridiculous. The door into the Fed's business is already open because most Americans seem to be talking about it. The longer the Fed tries to lamely hold on to their private schemes, the more criminal they appear.
And if asking questions and demanding transparency from the Fed "infringes upon their autonomy," then let's fire them. It's our money so f*ck 'em. We can (and should) print our own money without paying the Fed for the "privilege."
Plus this whole notion of secrecy is ridiculous. The door into the Fed's business is already open because most Americans seem to be talking about it. The longer the Fed tries to lamely hold on to their private schemes, the more criminal they appear.
Re: Federal Reserve Is A Ponzi Scheme
Nah, the government should not print money. That's opening the door to oblivion. Or do you mean print money that is fully backed by gold or silver?
If you think that the government should print its own money (not fully backed, I mean), that's ludicrous. You have to think that all the way through and thus you will reach the inevitable conclusion.
Of course, having a central bank printing money is even more ludicrous. It's actually so ludicrous, it ranks insanely high on my list of ludicrity, which is a word I coined just for this matter.
If you think that the government should print its own money (not fully backed, I mean), that's ludicrous. You have to think that all the way through and thus you will reach the inevitable conclusion.
Of course, having a central bank printing money is even more ludicrous. It's actually so ludicrous, it ranks insanely high on my list of ludicrity, which is a word I coined just for this matter.
Re: Federal Reserve Is A Ponzi Scheme
Sorry I didn't specify. Of course. US Dollars printed by and for the people with 100% backed by collateral with intrinsic value such as precious metals.
All we're doing right now is writing checks on an overdrawn account. But we think we must be okay because "we still have checks in our checkbook."
No one would let us get away with this as individuals. In fact, the very same banks who pull these crimes would prosecute you to the fullest extent of the law for even trying to do what they do.
All we're doing right now is writing checks on an overdrawn account. But we think we must be okay because "we still have checks in our checkbook."
No one would let us get away with this as individuals. In fact, the very same banks who pull these crimes would prosecute you to the fullest extent of the law for even trying to do what they do.
Re: Federal Reserve Is A Ponzi Scheme
No need to say sorry. If you had truly stepped on my paw, I would’ve yelped.
(If someone steps on my paw twice, that entity may consider her/himself hamstringed.)
(If someone steps on my paw twice, that entity may consider her/himself hamstringed.)
Re: Federal Reserve Is A Ponzi Scheme
Hamstringed, hamstrung? Whatever. Suffice it to say it would hurt.
Re: Federal Reserve Is A Ponzi Scheme
Well...some nations have to back it up with gold ... some back it up with assumption they have enough power. They simply don't care about conventional rules ... they will get what they need by intimidation, and global political manipulations
Cowboy logic...one dude has some cash...other dude has a gun...who wins?
Cowboy logic...one dude has some cash...other dude has a gun...who wins?
By: flopnik
