Hans: No such ‘fact’ exists, what central banks do is lessen the impact of bad economic cycles and extend good ones. Go look at the US economy in the 1866-1900 when we had no central bank – what was happening?
The contraction act for removing greenbacks from circulation? As far as I know, the money panics that occurred were totally manipulated by the bankers who were lords of almost all credit and banking institutions. They were the big arm of the english central bank , the Bank of England. Like nowadays, they are the lords of the monetary system, they decide when to bring the huge debt to public and declare panics. "Oh look!! Several trillions of bad debt under this rock!! Oh no, its the end of it all, give us a blank check or everything will come down." Remember 2k8? Oh, give us 700billion conservative number, or sky will fall, the market will lose 2k points in a single day , bla bla bla. Back to 1866, the same line of bankers, under the guidance of the Bank of England, were responsible for ramming this act through the a congress frightened by these induced panics, and for the approval of yet another Central Bank, which has been previously vetoed by one of the few true brave men you had alongside with Lincoln, Andrew Jackson.
Oh i know, its alll conspiracy theory, England has never been greedy, imperialist nor wanted to see U.S economy bent to them at that time.
Hans: It's what we call reality
Nope youre living in mars, im pretty sure, if you think the FED is ok and has ever been audited. Really, it is pathetic.
Hans: Yes I’m afraid so – but then you had already lost that previously, however can you refute what the site SAYS?
The site doesnt say anything but bla bla bla, could be at the FED homepage easily! The FED never been transparent, even Bernanke says that, and we had Greenspan also saying it previously. They feel they're above the law and they are second to none, they do as they please. They simply assume that they are the only ones who knows whats better for the people economically speaking. They refute any attempt at auditing as possible harassment and interference with their independence. According to this laughable source, theres nothing wrong with the FED whatsoever, the crisis is a magical happening.
Hans: Oh my, so tell us and show us the economic system that works better. Most of the economies in the world are having problems due to politically driven and unwise spending. Just like private persons, if you spend to much you get into trouble.
Any economic system that operated outside this stupid model. Lincoln Greenbacks for example. In fact ANY money that wasnt interest bearing and was regulated by sane people made economies to flourish. Yes we can have an economy to temporarily flourish under a ruthless central bank like the FED, but its a time bomb, and anyone with a fair understanding on money creation process knows that. See for example what they are doing now, as we speak, QE all around. Everyone knows that this is only temporarily retarding the inevitable. The system doesnt hold water in the long run. They can at anytime announce that the system is broke and all that bla bla bla, but they are choosing not to atm, they are going with QE up until only "god" knows...
I agree that if we have a corrupt congress and ignorant and economically illiterate populace, there will be always reckless practices like the FED's. But remember, in today's world, the people can press the congress to be auditted if they are politically active enough, and that is not true for the FED, unless they wanna put out a revolution. I believe an audit will come out soon though, this crisis is way too serious now, its out of control. Various members of congress, especially Ron Paul are trying to pass an auditing legislation.
So we have your agreement that the FED is audited and organized in a non-conspiracy way- or at least we take it that way since you changed subjects, LOL
Nope, the FED is a holding of private banks, the same criminal banks that crashed wallstreet, Greece, the EU and now broke your country via the derivatives fraud and other scandals (i.e. Goldman , JP Morgan and the likes) and this huge debt you can documented anywhere . All members of the board are either still members of the banks that compose the FED or simply swapped chairs from being like CEO's of one of the FED controlled banks for being head of the FED itself and or treasury. I simply shrug at you if you can't see anything wrong in here.
Tell me it is all a non-issue?
