Is the USA's fiat money system bound to collapse?

[dawny22]

* Buzzzzz*
WRONG AGAIN!
Do you research anything?

Ok sorry for being a dope..... that is why i am here i want to know more about this whole subject. Please point me in the right direction and provide me a link/links to a source where the federal reserve have been audited

Thanks
Dawn

 

[The Central Scrutinizer]

Is the USA's fiat money system bound to collapse? If so my country and the rest of the world will follow! I do not know about you, but these are questions I ask and it scares me. The thought first struck me several years ago when I was doing a some research online, and found out the federal reserve was a private company.

So, I began to do some research. Did you know the American government is in trillions of dollars of debt and continues to borrow more money? Did you know it is impossible to get out of debt in a system which borrows money from a private federal reserve with interest attached. Did you know your taxes go directly to the federal reserve bank and not the United states government?

The federal reserve bank has been loaning taxpayers dollars in the trillions to foreign countries for years now. They answer to no one, have never been audited, and control the nations stock markets, industries, media and wealth. They even control the government through rich foreign lobbyist and powerful international banking corporations. The people have been manipulated and lied too! This won't be news to a forum of this magnitude, but the average person on the street has no inclination! All i ask is one thing, watch the two presentations that follow and write a critique of the material therein.

I do sincerely hope i get some good honest feed back from people who have genuinely watched the presentations, and not just knee jerked reactions.

Thanks and kind regards
Dawn

http://www.youtube.com/watch?v=ArfPytAoeZ0&feature=player_embedded

Watch the other 4 parts on youtube please.

No sorry i will just paste them, i have noticed an anomaly that might confuse people the other 4 links are here now rectified


http://www.youtube.com/watch?v=jFrpeaaSWjQ&feature=related

http://www.youtube.com/watch?v=l-nNpXEg1LY&feature=related

http://www.youtube.com/watch?v=wiMHg5Pe1DQ&feature=related

http://www.youtube.com/watch?v=wk_jCp4l5zs&feature=related

Then there is the money masters, really good informative documetry. Please watch and critique.

http://www.youtube.com/watch?v=JXt1cayx0hs&feature=player_embedded

Do you know Tippit? If so, you may want to talk to him. I doubt you'll get any farther than he has here with this line of nonsense.

 

[Stray Cat]

As to your statement the banks already own in part most of all property there is. Once a person has paid the mortgages and goes to resell, the same old ponzi starts all over again.

So, the person who goes to re-sell, gets the money he asks for, when he sells his house. That is real money he can do what ever he wants with. He can withdraw it all in cash if he wants, or he can buy another house with it.
This money the seller gets is from the bank who is loaning the money to the new owner to purchase it.
I don't see where any money is poofed out of thin air here.

I do however think that the banks are on the whole, a bunch of crooks.

 

[Gord_in_Toronto]

Surely someone is missing the other side of the equation.

Bank sells a bond with a promise to give interest and pay back the value of the bond in the future.

Is the bank storing this money in huge Scrouge McDuck-like vaults? Or is it loaning the money to people to buy houses? And make a couple of per cent on the difference between the interest rates?

Rise and repeat.



Next Fractional-Reserve Banking.

 

[dawny22]

You started counting too early. When I said I'd watched to 3:40 that's exactly how much I'd watched. (I later watched the rest of that first 10 minute section.)

"The banks" may well own most properties, but you can't just conflate "the banks" with whichever individual bank you get your mortgage from. And what makes it a Ponzi scheme exactly? That's just the kind of vague handwaving I was complaining about.

I apologies..... not the banks or an individual bank, but the monetary system as we know it. It "most money" is funneled back to the same source.

 

[Dog Town]

Ok sorry for being a dope..... that is why i am here i want to know more about this whole subject. Please point me in the right direction and provide me a link/links to a source where the federal reserve have been audited

Thanks
Dawn

All I want to know, is why you have done NO research on these subjects you are on about?

TRY:
http://www.google.com/
http://www.yahoo.com/

A start,
http://search.yahoo.com/search;_ylt...audits&toggle=1&cop=mss&ei=UTF-8&fr=yfp-t-701


http://www.federalreserve.gov/boarddocs/rptcongress/annual06/pdf/audits.pdf

http://www.newyorkfed.org/aboutthefed/fedpoint/fed35.html

 

[Stray Cat]

All I want to know, is why you have done NO research on these subjects you are on about?

No doubt in your favourite subject (CT?), you'll have come across the "shifting the burden of proof".
Everyone who comes here is an expert... and then we find that they have done no research into what they are claiming to be an expert about and somehow it's down to us to provide them with proof.

Well done for so easily rebutting the OP's claim and highlighting another "experts" shortfalls.

 

[Dog Town]

Did you know it is impossible to get out of debt in a system which borrows money from a private federal reserve with interest attached.

I will ask for you to elaborate on this, before I ridicule it proper!
Game?

 

[dawny22]

All I want to know, is why you have done NO research on these subjects you are on about?

TRY:
http://www.google.com/
http://www.yahoo.com/

A start,
http://search.yahoo.com/search;_ylt...audits&toggle=1&cop=mss&ei=UTF-8&fr=yfp-t-701


http://www.federalreserve.gov/boarddocs/rptcongress/annual06/pdf/audits.pdf

http://www.newyorkfed.org/aboutthefed/fedpoint/fed35.html

I have just downloaded that pdf second link down and the numbers look far too low to be an actual audit of the entire Federal reserve! The first link leads to a Ron Paul link, the same ron paul who is still crying out for the fed to be audited!?!?

The Federal Reserve Transparency Act of 2009 (H.R. 1207) is a bill introduced in the U.S. House of Representatives of the 111th United States Congress by Congressman Ron Paul.

NO one know 100 percent of all information at one time...... i do appologise!
But thanks for providing me with more information i will look at the pdf file you gave me in more detail and everything else.

Thanks for your help
Dawn

 

[Pup]

PLEASE!! The bank gives cash?? The cash is a simple electronic transfer of numbers! If the loan was deposited into your account you could then draw on it as can a company..... but this money comes out of thin air! Did you watch the presentations or not? New debt was created not money!

This has already been answered, but because it's such a basic point, I think it bears repeating.

The bank pays the money on behalf of the buyer to the seller of the house, who can draw it out of his account and spend it or do with it whatever he wants, just like any other money in his account.

Now I suppose it's done by electronic transfer, but the last time I sold property, in the 1990s, I received a paper check for it at the closing from the seller's bank, walked over to my bank and deposited it, just like a paycheck or anything else.

 

[Eliot89]

Every central bank in the entire world would have to be considered a "private company" by the standard you've set here. There's no doubt that the federal reserve (or put more clearly America's Central Bank) is a completely separate entity from the US govt. but that's by design. You wouldn't want Obama or any president for that matter to have too much control over the country's money supply as they might manipulate it to their political advantage at great detriment to our future and/or our present economic state (not that it could get much worse right now). Besides the president appoints the chairman of the federal reserve and the chairman is a chief economic advisor to the president throughout multiple presidencies. Bottom line is the federal reserve is fine the way it is. There's no reason to start freaking out about it now. There are much greater corruptions in our economic system.

 

[dawny22]

I will ask for you to elaborate on this, before I ridicule it proper!
Game?

So are you actually suggesting that the US and the rest of the world can get out of debt in our current system of money?? Without any reform What so ever??

 

[Dog Town]

I The first link leads to a Ron Paul link, the same ron paul who is still crying out for the fed to be audited!?!?

That seems to be where a lot of the trash you've digested comes from,eh?

Try the others!
#2 http://www.publiceye.org/conspire/flaherty/flaherty6.html

A Brief History of Federal Reserve Audits

Since its inception in 1913 the Federal Reserve System has been subjected to a variety of financial and performance audits by Congress, the executive branch, and private accounting firms, although responsibility for this task has shifted from time to time. From 1913 to 1921 the Board of Governors, then known as the Federal Reserve Board which sets monetary policy and regulates the activities of the Federal Reserve Banks, was audited annually by the U.S. Treasury Department. In 1921 Congress created the Government Accounting Office (GAO) and assigned it to audit the Board until 1933. In the Banking Act of 1933, Congress voted specifically to remove the Board from the GAO's jurisdiction. From 1933 to 1952 audit teams from the twelve Federal Reserve Banks performed the annual examination of the BOG's books. From 1952 to 1978, the Board, under authorization from Congress, decided to employ nationally recognize accounting firms to conduct the audits of itself to insure independent oversight. This provided an external evaluation of the adequacy and effectiveness of the examination procedures.1

In 1978 Congress passed the Federal Banking Agency Audit Act (31 USCA §714). It placed the Federal Reserve System back under the auditing authority of the GAO. The Act significantly increased the access of the GAO to the Federal Reserve Banks, the Board, and the Federal Open Market Committee (the FOMC). Since then, the GAO has conducted over 100 financial audits and performance audits of the three Federal Reserve bodies.3

 

[dawny22]

That seems to be where a lot of the trash you've digested comes from,eh?

Try the others!
#2 http://www.publiceye.org/conspire/flaherty/flaherty6.html

Thanks for the link this will all take a while to sift through....... please slow down a little

Thanks
Dawn

 

[Gord_in_Toronto]

So are you actually suggesting that the US and the rest of the world can get out of debt in our current system of money?? Without any reform What so ever??

Ask the Hong Kong government.

Total Government Net Debt (National Currency) for Hong Kong in year 2010 is HKD 0 Billion. Net debt comprises the stock (at year-end) of all government gross liabilities (both to residents and nonresidents) minus all government assets (domestic as well as foreign). To avoid double counting, the data are based on a consolidated account (eliminating liabilities and assets between components of the government, such as budgetary units and social security funds)

 

[psionl0]

Fiat money, government debt and fractional reserve banking are three separate issues. If you don't distinguish between them clearly you won't be taken seriously. (You probably won't anyway because you haven't said how great this system is).

Most of the references that you cite are accurate enough but add colorful language and unsubstantiated conspiracy claims to the mix leading skeptics on this forum to dismiss them entirely as pure CT. Modern Money Mechanics.pdf deals with the banking system in a purely factual way. You should make sure you understand this publication before you comment on your other resources.

BTW most of the issues you raise have been discussed in the "How the banks create money" and similar threads.

 

[dawny22]

That seems to be where a lot of the trash you've digested comes from,eh?

Try the others!
#2 http://www.publiceye.org/conspire/flaherty/flaherty6.html

Done some looking at what you provided and it seems that no "true" audit has taken place.

why would the fed transfer out 755 TRILLION dollars in 2008? the actions clearly show intentional behavior that could only lead to the undermining of the dollar on a major scale.

the usery fee alone is over the top, 31million just to use their paper? Its not a large figure in the scope of today's budgets, but they are also profiting in excess of 6 billion a year after paying every employee! and giving lavish bonuses, management fees and all kinds of other accounting tricks.

The Fed will not allow a true audit, we have the CAFR to give us a hint of what is really going on.

They should nationalize the fed, put elected officials in office because then the profit is staying inside the government, not going to private money lenders; they are the true power in any country! It needs to be reformed.


You must admit that the US has no chance what so ever, of getting out of debt...... and that they are headded for a deep dark hole. I will show you this in my next post, which will also answer The post about hong kong being debt free and why they are!

 

[dawny22]

And here it is the deep dark hole and why hong kong are debt free

http://www.youtube.com/watch?feature=player_embedded&v=T-8k9ljFYis

 

[Newtons Bit]

Done some looking at what you provided and it seems that no "true" audit has taken place.

why would the fed transfer out 755 TRILLION dollars in 2008? the actions clearly show intentional behavior that could only lead to the undermining of the dollar on a major scale.

the usery fee alone is over the top, 31million just to use their paper? Its not a large figure in the scope of today's budgets, but they are also profiting in excess of 6 billion a year after paying every employee! and giving lavish bonuses, management fees and all kinds of other accounting tricks.

The Fed will not allow a true audit, we have the CAFR to give us a hint of what is really going on.

They should nationalize the fed, put elected officials in office because then the profit is staying inside the government, not going to private money lenders; they are the true power in any country! It needs to be reformed.


You must admit that the US has no chance what so ever, of getting out of debt...... and that they are headded for a deep dark hole. I will show you this in my next post, which will also answer The post about hong kong being debt free and why they are!

755 trillion dollars?

 

[Dunstan]

Done some looking at what you provided and it seems that no "true" audit has taken place.

Do we need a Scottish accounting firm to do that?