do you know what the federal reserve is?

[Allan from Fallbrook]

[quote=investor][quote=aldante]Well we can discuss history of the Fed all we want but why not talk about the effectiveness of this secret organization?
One small observation that I will make. The Federal Reserve Chairman in MAY of 2008 told this country that we need not worry about the failure of Fannie Mae and Freddie Mac. He also said that we need not worry about a recession. Meanwhile the “anti fed” crowd – Ron Paul, Peter Schiff, Marc Faber had been telling us for years that we were in a massive bubble and more importantly why we were in the bubble. They also predicted what would happen! So people on this site think that the Federal Reserve is valuable and are “smart” when it could not even predict the bubble that it created? (Head spinning now……..) This is the greatest financial debacle of our generation (so far). I think the Fed has lost all credibility and must be audited.
There seems to be an underlying current that we “need” the Federal Reserve. If you look at the loss of buying power since 1913 – we need the Federal Reserve like a hole in the head. That is when the Fed was created and depending on who you listen too the dollar has lost 93% of its purchasing power. What does that mean? I think that it means that kids have to take out massive amounts of loans to get a decent education. It means that the single income household is a thing of the past. It means that healthcare costs have skyrocketed. It means that many of us who have been paying into the Social Security system are seriously questioning if we will ever get any $$ back out.[/quote]
exactly. This is why jeferson and jackson fought the idea of a central bank so hard.[/quote]

Investor: CONFIRMATION BIAS: http://en.wikipedia.org/wiki/Confirmation_bias

So what if you went to a party and met a guy there who refused to engage in any sort of meaningful debate and simply kept repeating the same information over and over, ad nauseam, and was unwilling to even discuss another person’s point of view? What would you say about THAT PERSON, Investor?

You evade any attempts to engage in honest debate (you know, the TWO sides of an argument?) and don’t respond to posts regarding same, but then accuse others (who don’t agree with your contentions) of bias, or not playing fair, or being personal.

Strange, no? Maybe even hypocritical?

[Anonymous]

[quote][…] but I suspect are the wealthiest people on earth[/quote]

Are any Fed owners on this list?

http://en.wikipedia.org/wiki/List_of_the_100_wealthiest_people

Or does the Fed secretly control Wikipedia also?

I do wish they would change the ownership structure of the Fed, just so this conspiracy theory would go away.

[Anonymous]

[quote][…] but I suspect are the wealthiest people on earth[/quote]

Are any Fed owners on this list?

http://en.wikipedia.org/wiki/List_of_the_100_wealthiest_people

Or does the Fed secretly control Wikipedia also?

I do wish they would change the ownership structure of the Fed, just so this conspiracy theory would go away.

[Anonymous]

[quote][…] but I suspect are the wealthiest people on earth[/quote]

Are any Fed owners on this list?

http://en.wikipedia.org/wiki/List_of_the_100_wealthiest_people

Or does the Fed secretly control Wikipedia also?

I do wish they would change the ownership structure of the Fed, just so this conspiracy theory would go away.

[Anonymous]

[quote][…] but I suspect are the wealthiest people on earth[/quote]

Are any Fed owners on this list?

http://en.wikipedia.org/wiki/List_of_the_100_wealthiest_people

Or does the Fed secretly control Wikipedia also?

I do wish they would change the ownership structure of the Fed, just so this conspiracy theory would go away.

[Anonymous]

[quote][…] but I suspect are the wealthiest people on earth[/quote]

Are any Fed owners on this list?

http://en.wikipedia.org/wiki/List_of_the_100_wealthiest_people

Or does the Fed secretly control Wikipedia also?

I do wish they would change the ownership structure of the Fed, just so this conspiracy theory would go away.

[davelj]

[quote=greekfire]Breaking out the “I don’t have time to read your sources” card isn’t a very strong argument, in my humble opinion. What “widely discredited” piece of writing do you speak of? Is it the same “Creature From Jekyll Island” book authored by G. Edward Griffin? I don’t agree with everything in said book, but would love for you to enlighten us on how said book has been “widely discredited”. Hard sources are welcomed…[/quote]

I’m not *arguing* that “I don’t have time to read [investor’s] sources.” I’m *stating* that I’m unwilling to do so because I have a life that I would prefer attending to. Thus, this isn’t part of my “argument” – it’s just a statement of fact that you can take or leave. Just a clarification.

I already provided a link in a previous post within this thread to an economist who has spilled a lot of ink debunking Griffin and other Fed conspiratorialists. (And there are many others.) You can find it yourself – I’m too lazy to do it myself. Again, that’s not an “argument” – that’s just a statement of fact which you can take or leave. I’m sure you’re capable of doing your own research, yes? Assuming so, enjoy.

[davelj]

[quote=greekfire]Breaking out the “I don’t have time to read your sources” card isn’t a very strong argument, in my humble opinion. What “widely discredited” piece of writing do you speak of? Is it the same “Creature From Jekyll Island” book authored by G. Edward Griffin? I don’t agree with everything in said book, but would love for you to enlighten us on how said book has been “widely discredited”. Hard sources are welcomed…[/quote]

I’m not *arguing* that “I don’t have time to read [investor’s] sources.” I’m *stating* that I’m unwilling to do so because I have a life that I would prefer attending to. Thus, this isn’t part of my “argument” – it’s just a statement of fact that you can take or leave. Just a clarification.

I already provided a link in a previous post within this thread to an economist who has spilled a lot of ink debunking Griffin and other Fed conspiratorialists. (And there are many others.) You can find it yourself – I’m too lazy to do it myself. Again, that’s not an “argument” – that’s just a statement of fact which you can take or leave. I’m sure you’re capable of doing your own research, yes? Assuming so, enjoy.

[davelj]

[quote=greekfire]Breaking out the “I don’t have time to read your sources” card isn’t a very strong argument, in my humble opinion. What “widely discredited” piece of writing do you speak of? Is it the same “Creature From Jekyll Island” book authored by G. Edward Griffin? I don’t agree with everything in said book, but would love for you to enlighten us on how said book has been “widely discredited”. Hard sources are welcomed…[/quote]

I’m not *arguing* that “I don’t have time to read [investor’s] sources.” I’m *stating* that I’m unwilling to do so because I have a life that I would prefer attending to. Thus, this isn’t part of my “argument” – it’s just a statement of fact that you can take or leave. Just a clarification.

I already provided a link in a previous post within this thread to an economist who has spilled a lot of ink debunking Griffin and other Fed conspiratorialists. (And there are many others.) You can find it yourself – I’m too lazy to do it myself. Again, that’s not an “argument” – that’s just a statement of fact which you can take or leave. I’m sure you’re capable of doing your own research, yes? Assuming so, enjoy.

[davelj]

[quote=greekfire]Breaking out the “I don’t have time to read your sources” card isn’t a very strong argument, in my humble opinion. What “widely discredited” piece of writing do you speak of? Is it the same “Creature From Jekyll Island” book authored by G. Edward Griffin? I don’t agree with everything in said book, but would love for you to enlighten us on how said book has been “widely discredited”. Hard sources are welcomed…[/quote]

I’m not *arguing* that “I don’t have time to read [investor’s] sources.” I’m *stating* that I’m unwilling to do so because I have a life that I would prefer attending to. Thus, this isn’t part of my “argument” – it’s just a statement of fact that you can take or leave. Just a clarification.

I already provided a link in a previous post within this thread to an economist who has spilled a lot of ink debunking Griffin and other Fed conspiratorialists. (And there are many others.) You can find it yourself – I’m too lazy to do it myself. Again, that’s not an “argument” – that’s just a statement of fact which you can take or leave. I’m sure you’re capable of doing your own research, yes? Assuming so, enjoy.

[davelj]

[quote=greekfire]Breaking out the “I don’t have time to read your sources” card isn’t a very strong argument, in my humble opinion. What “widely discredited” piece of writing do you speak of? Is it the same “Creature From Jekyll Island” book authored by G. Edward Griffin? I don’t agree with everything in said book, but would love for you to enlighten us on how said book has been “widely discredited”. Hard sources are welcomed…[/quote]

I’m not *arguing* that “I don’t have time to read [investor’s] sources.” I’m *stating* that I’m unwilling to do so because I have a life that I would prefer attending to. Thus, this isn’t part of my “argument” – it’s just a statement of fact that you can take or leave. Just a clarification.

I already provided a link in a previous post within this thread to an economist who has spilled a lot of ink debunking Griffin and other Fed conspiratorialists. (And there are many others.) You can find it yourself – I’m too lazy to do it myself. Again, that’s not an “argument” – that’s just a statement of fact which you can take or leave. I’m sure you’re capable of doing your own research, yes? Assuming so, enjoy.

[Anonymous]

[quote=aldante]If you look at the loss of buying power since 1913 [/quote]

And exactly what does “loss of buying power” even mean over a 100 year period?

How much did cars, computers, or iPods cost in 1913?

How much did a home with electricity, gas, indoor plumbing, central AC, and phone lines cost in 1913?

How much did it cost to travel across the country?

How much did bypass surgery or a polio vaccination cost in 1913?

What percentage of income did the average household spend on food in 1913?

Sorry, you can’t just take a year-over-year inflation number and compound it 100 times over, and then conclude that there is no more “buying power.”

[Anonymous]

[quote=aldante]If you look at the loss of buying power since 1913 [/quote]

And exactly what does “loss of buying power” even mean over a 100 year period?

How much did cars, computers, or iPods cost in 1913?

How much did a home with electricity, gas, indoor plumbing, central AC, and phone lines cost in 1913?

How much did it cost to travel across the country?

How much did bypass surgery or a polio vaccination cost in 1913?

What percentage of income did the average household spend on food in 1913?

Sorry, you can’t just take a year-over-year inflation number and compound it 100 times over, and then conclude that there is no more “buying power.”

[Anonymous]

[quote=aldante]If you look at the loss of buying power since 1913 [/quote]

And exactly what does “loss of buying power” even mean over a 100 year period?

How much did cars, computers, or iPods cost in 1913?

How much did a home with electricity, gas, indoor plumbing, central AC, and phone lines cost in 1913?

How much did it cost to travel across the country?

How much did bypass surgery or a polio vaccination cost in 1913?

What percentage of income did the average household spend on food in 1913?

Sorry, you can’t just take a year-over-year inflation number and compound it 100 times over, and then conclude that there is no more “buying power.”

[Anonymous]

[quote=aldante]If you look at the loss of buying power since 1913 [/quote]

And exactly what does “loss of buying power” even mean over a 100 year period?

How much did cars, computers, or iPods cost in 1913?

How much did a home with electricity, gas, indoor plumbing, central AC, and phone lines cost in 1913?

How much did it cost to travel across the country?

How much did bypass surgery or a polio vaccination cost in 1913?

What percentage of income did the average household spend on food in 1913?

Sorry, you can’t just take a year-over-year inflation number and compound it 100 times over, and then conclude that there is no more “buying power.”

[Author]

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