The Biggest Scam in History

[The Central Scrutinizer]

So banks can create money out of nothing, but do they get their chicks for free?

I want my MTV!

 

[se7ensnakes]

The man,
Human nature, in regards to money, has not changed for hundreds of years. So it is rather predictable what happens with easy credit. Thus...the expression Tulip-mania came into being. Bankruptsies, foreclosures, unemployment are cyclical and part of the American economic landscape...but not by accident.

 

[se7ensnakes]

Removed breach of Rules 0 and 12.

Replying to this modbox in thread will be off topic  Posted By: LashL

 

[se7ensnakes]

Skeptic
Bernanke had a series of meetings with the central banks in Europe...Please tell us what was said in those meeting which resulted in a half trillion dollar fed note in various foreign central banks. Please do tell...

 

[stilicho]

Not really. Spain's economy went down the tubes. But then again, facts aren't your strong side.

Don't forget there was also a serious impact on the value of the traditionally stable Venetian florin.

Spain also launched itself into a programme of almost limitless spending, which was funnelled into the acquisition of landholder and ecclesiastical titles. This is directly opposite to Tippit's furious contention that a metals-based currency will curb government spending and result in proper consumption habits by the wealthy. Very little investment was made into capital improvements although Spanish gold and silver fuelled a boom (or was that a bubble?) in Dutch and English shipbuilding.

 

[Sceptic-PK]

Edited by LashL: 

Removed quoted moderated content

No, they were just ill-informed and lacked the experience and history we’ve all had the opportunity to examine. This is why conspiracy theorists are always forced to quote people who have been dead for decades or centuries, because all (rational) modern thinkers/economists/politicians know that central banking is a necessity in today’s economies.

 

[The Man]

The man,
Human nature, in regards to money, has not changed for hundreds of years. So it is rather predictable what happens with easy credit. Thus...the expression Tulip-mania came into being. Bankruptsies, foreclosures, unemployment are cyclical and part of the American economic landscape...but not by accident.

Who said anything about an “accident”? Loaning people money who probably can’t pay it back is like driving a car with no brakes, there is inevitably going to be a crash. One need not intend to have a crash in order for their simple negligence to result in a crash.

 

[Hans]

The man,
Human nature, in regards to money, has not changed for hundreds of years. So it is rather predictable what happens with easy credit. Thus...the expression Tulip-mania came into being. Bankruptsies, foreclosures, unemployment are cyclical and part of the American economic landscape...but not by accident.

Really, so if we go back to a time when the Fed didn't exist would these things all disappear? Did they not exist in other countries before they created central banks?

 

[Belz...]

No, they were just ill-informed and lacked the experience and history we’ve all had the opportunity to examine. This is why conspiracy theorists are always forced to quote people who have been dead for decades or centuries, because all (rational) modern thinkers/economists/politicians know that central banking is a necessity in today’s economies.

Wait, wait, wait!!!! I thought money was Ee-vil ?

 

[drkitten]

Really, so if we go back to a time when the Fed didn't exist would these things all disappear? Did they not exist in other countries before they created central banks?

Of course not. That's where the expression Tulip-mania came from. The central bank of the United States (the Federal Reserve Bank) drove 17th century Holland into a bubble followed by an economic crash.

... using a combination of their awesome powers of awesome and a time-travelling police box manned by a badly dressed man wearing a stalk of celery in his lapel.

 

[se7ensnakes]

the man read this:
Memo sent to Bankers to calling for an economic collapse which eventually became part of the congressional record:
“On September 1st, 1894, we will not renew our loans under any consideration. September 1st we will demand our money.
We will foreclose and become mortgagees in possession. We can take two-thirds of the farms west of Mississippi as well, at our own price... Then the farmers will become tenants as in England...”
1891 American Bankers Association -memo submitted to all bank members.
as printed in the congressional Record of April 29, 1913

This is still in practice today. Big bank muster their financial muscle and cause economic collapses. Then they go around picking the best real estate, companies, etc thru foreclosures and repossessions.

back in the 1800s the banks were loaning money to some investors who claim that they were going to drain a section of the red sea to find the treasure of the drowned egyptians who were chasing moses.

The man this is what is called the boom-burst cycle.

 

[se7ensnakes]

skeptic-pk
You are laughable, some little guy online countering some of the best minds this country had to offer. No it is rather obvious that you with the nutters.
Btw. Check this out by a prominent economies:

"The stock of money, prices and output was decidedly more unstable after the establishment of the Reserve system than before. The most dramatic period of instability in output was, of course, the period between the two wars, which includes the severe contraction of 1920 to 1921, 1929 – 1933 and 1937 -1938. No other 20-year period in American history contains as many as three such severe contractions.
This evidence persuades me that at least a third of the price rise during and just after World War I is attributable to the establishment of the Federal Reserve System...and that the severity of the major contractions – 1920 -1921, 1929 – 1933, and 1937 – 1938 – is directly attributable to acts and commission and omission by the Reserve Authorities …
Any system which gives so much power and so much discretion to a few men, [so] that mistakes ---excusable or not – can have such far reaching effects is a bad system. It is a bad system to believers in freedom just because it gives a few men such power without any effective check by the body politic ---This is the key political argument against an independent central bank."
Milton Friedman

[/QUOTE]

 

[se7ensnakes]

Hans you need to do some reading. It is believed that one of the major events plunge Europe into the dark ages was the severe money contraction in rome.
Hans not all banks in history practiced fractional reserve banking.

 

[The Central Scrutinizer]

the man read this:
Memo sent to Bankers to calling for an economic collapse which eventually became part of the congressional record:
“On September 1st, 1894, we will not renew our loans under any consideration. September 1st we will demand our money.
We will foreclose and become mortgagees in possession. We can take two-thirds of the farms west of Mississippi as well, at our own price... Then the farmers will become tenants as in England...”
1891 American Bankers Association -memo submitted to all bank members.
as printed in the congressional Record of April 29, 1913

This is still in practice today. Big bank muster their financial muscle and cause economic collapses. Then they go around picking the best real estate, companies, etc thru foreclosures and repossessions.

back in the 1800s the banks were loaning money to some investors who claim that they were going to drain a section of the red sea to find the treasure of the drowned egyptians who were chasing moses.

The man this is what is called the boom-burst cycle.

Serious question: What color is the sky in your world?

 

[carlitos]

I don't believe that "congressional record" quote for a second.

 

[The Central Scrutinizer]

I don't believe that "congressional record" quote for a second.

But it was in World Net Daily!

 

[dudalb]

So banks can create money out of nothing, but do they get their chicks for free?

BUt do they move their own Microwaves Ovens?

 

[dudalb]

Really, so if we go back to a time when the Fed didn't exist would these things all disappear? Did they not exist in other countries before they created central banks?

Hell, you don't have to go very far back. Some of the worst economic panics in US History occured before the Fed existed. 1837 and 1873 come to mind.

 

[Sceptic-PK]

skeptic-pk
You are laughable, some little guy online countering some of the best minds this country had to offer. No it is rather obvious that you with the nutters.
Btw. Check this out by a prominent economies:

"The stock of money, prices and output was decidedly more unstable after the establishment of the Reserve system than before. The most dramatic period of instability in output was, of course, the period between the two wars, which includes the severe contraction of 1920 to 1921, 1929 – 1933 and 1937 -1938. No other 20-year period in American history contains as many as three such severe contractions.
This evidence persuades me that at least a third of the price rise during and just after World War I is attributable to the establishment of the Federal Reserve System...and that the severity of the major contractions – 1920 -1921, 1929 – 1933, and 1937 – 1938 – is directly attributable to acts and commission and omission by the Reserve Authorities …
Any system which gives so much power and so much discretion to a few men, [so] that mistakes ---excusable or not – can have such far reaching effects is a bad system. It is a bad system to believers in freedom just because it gives a few men such power without any effective check by the body politic ---This is the key political argument against an independent central bank."
Milton Friedman

Wow, a relevant, in context quote from an expert! Finally…

Nobody (certainly not me) denies that the Fed played a role in the Great Depression. But mistakes and lack of experience with regards to central banking and economics is not the same thing as it being an evil institution run in the interest of bankers, and stupid quotes like yours in the OP are evidence of nothing but opinion, and mostly out of context at that. I have a lot of respect for Friedman, but history has proven that countries need independent central banks, and Friedman’s assessment of the Fed is closely linked to the Fed’s activities in its infancy, and is far from an indictment of central banking generally. The GFC illustrated quite well that financial systems are more stable when supported by an independent central bank.

 

[Belz...]

This is still in practice today. Big bank muster their financial muscle and cause economic collapses.

Yes, that is SO much in their best interests...