We need to abolish the federal reserve.

I think that these crooks that are in the federal reserve caused all of these problems. We either need to get rid of the federal reserve completely or force stricter regulations on them. I think that the federal reserve is bad for the market so I think we should do away with it. What do you think we should do?

[edit on 22-11-2008 by Frankidealist35]

I agree with you. We should abolish the federal reserve. But how? Kennedy, I believe was assassinated because he tried to bring about the feds demise. Ron Paul spoke out about the fed reserve and how it was destroying our economy and look what that go him? He wasn't invited to an important Fox News debate, even though he had garnered more votes than say, Fred Thompson, who was invited. We can, though, avoid the fed in some ways, like battering. I do that quite a bit. It's a great way for me to "sell" my paintings for other people's services.

reply to post by Frankidealist35


you are quite right. Bernanke and Paulson are 2 of the hyper-criminals who caused this collapse via reckless printing of hundreds of billions of dollars over that last 3 decades. why you think america is so "rich" ? NOT because they work harder than anyone else, but because they PLUNDER the worlds resources of minerals and products in return for billions of bits of paper the Fed prints when it feels like it. hyper-criminals, who get away with it because the government too stupid to make laws against them. China sends millions of electronics to america, and america sends millions of worthless IOU bills to them. THIEVERY. but now the global market is Flooded with the Feds paper trick. hang bush. close down the Fed.

Originally posted by Frankidealist35
I think that these crooks that are in the federal reserve caused all of these problems. We either need to get rid of the federal reserve completely or force stricter regulations on them. I think that the federal reserve is bad for the market so I think we should do away with it.

I hear this a lot, and am inclined to agree.

But my question is, why? I hear that it causes this and that, but can you explain some?

[edit on 22-11-2008 by Johnmike]

you are quite right. Bernanke and Paulson are 2 of the hyper-criminals who caused this collapse via reckless printing of hundreds of billions of dollars over that last 3 decades. why you think america is so "rich" ? NOT because they work harder than anyone else, but because they PLUNDER the worlds resources of minerals and products in return for billions of bits of paper the Fed prints when it feels like it. hyper-criminals, who get away with it because the government too stupid to make laws against them. China sends millions of electronics to america, and america sends millions of worthless IOU bills to them. THIEVERY. but now the global market is Flooded with the Feds paper trick. hang bush. close down the Fed.

There is so much that needs to take place first in order for it to be abolished. First, ppl need to understand how and why the federal reserve came into existence and how it is a form of manipulation.

Then, people need to learn about free trade and personal responsibility. If this is not done before abolishing it, panic and chaos will ensue on a horrific scale. At this point, too many are reliant upon the system that has been set up. To just do away with it would be the equivelent of taking a newborn off the tit and telling that newborn to take care of itself.

After this, people need to accept that the only reason why such a system set up for greed is still in operation is that they have accepted it and that it is only up to US to rid ourselves of it.

If the above things take place, I will need a jacket, gloves, and snow boots to visit hell!

I think we can abolish the federal reserve if we just start to actually get our Government to realize that we've abolished the Gold Standard long ago. I think that it's wrong that all banks must go to the federal reserve for money. It gives the federal reserve too much power over the other banks and it creates a flaw in our checks and balances system; there needs to be some sort of check on the federal reserve, or it needs to be abolished.

Can you explain to us how the Federal Reserve caused "these problems?" Also, which markets is it bad for, and why?

Originally posted by anachryon
Can you explain to us how the Federal Reserve caused "these problems?" Also, which markets is it bad for, and why?

Your questions show your lack of knowledge on the federal reserve system. If you had even basic knowledge of the system, you would not be asking such questions, IMHO.

This is kind of the point I am trying to make in my prior post. Too many ppl don't have even a basic understanding of what the federal reserve is about. *shrugs* So, if we were to abolish today, which *is* in our power as a collective, modern society would be in deeper *snip* than it is now.

Originally posted by justamomma
Your questions show your lack of knowledge on the federal reserve system. If you had even basic knowledge of the system, you would not be asking such questions, IMHO.

Excuse me?

Lack of basic knowledge of the system, hm? Right then.

I'm interested to hear the OP's discourse on why he believes this way. This is a discussion forum, is it not? He made some general and vague statements and I'd like to understand his reasoning behind them.

reply to post by anachryon


I've just finished reading a book called What the Government has Done with our Money. It's about economic theory. It said something about how hyper inflationary was the cause of the feds being able to print unlimited money because we are now off a gold standard. A gold standard curbed inflation rates because it had value. Now money doesn't have any value. There is nothing preventing the inflation and the cost of things from rising. I also understand that banks are essentially bankrupt and they depend on the federal reserve for more money. But the federal reserve is off the gold standard as is the rest of the world, so, they just counterfeit money. All of our money right now is counterfeit. We may not be able to go back to the classic gold standard but I do think we should at least try to go to another metal. I don't think going to another metal would devalue our national currency. I think they could use some kind of other metal in the use of trades with other nations so at least that our dollar could have some value, because right now, it has none. How could a system like the one I described work?

can someone explain to me exactly what the FED does, and what would change if we actually got rid of them?

reply to post by Swatman


The Fed prints money. Money used to be worth something when we were on a gold standard. Now it's worth nothing as we are technically off the gold standard. The Fed now is printing worthless money and it's devaluing the dollar. The fed also takes part in a fractal system (I believe) where it lends money to banks so they never fail. All banks must be members of the federal reserve or members of other banks that are members of the federal reserve. They tell the federal reserve everything that goes on, what checks are deposited, etc, how the money is flowing. The Fed basically is a corrupt political machine that needs to be abolished so we can have a real economy and not one that is a complete fraud. Right now all banks are bankrupt. They're borrowing money from the central bank. If we got rid of the federal reserve we could establish a new bank in its place that would actually work. Right now we don't have a real economy. Our economy is fake.

That's my understanding of the federal reserve. Could anyone care to correct me? We;ve been off the gold standard for quite some time. My understanding is that basically we just put faith into the value of money and if we lost faith then the value of money would go away. If we had a new metal standard though the money might regain some value but right now our money is worthless.

The group Restore the Republic had a rally on satuday to stop the fed, it was in 38 cities across US, Whats crazy if Fed gives 10 billion by the time they are done messing with it it turns in to 90 billion. Some of the big money guys, say is doomed to fail. You can not keep printing money out of thin air, and the government threaten congress with martial law if did not go along with bale out. I still say write congress and tell them were tired of this and were are not going to take it anylonger. We have no GNP so I don't know what you could back it with, everyone and brother owes 150,000 as their part of national debt, soon to be 200,000 I'm sure.

[edit on 24-11-2008 by googolplex]

[edit on 24-11-2008 by googolplex]

video.google.ca...

Here is a nice video on the Fed, and how it has shaped our country and government since the turn of the twentieth century.

reply to post by Frankidealist35


I'm still not clear as to what would change if the FED were to be abolished and what exactly they have done wrong. Besides of course, the "fractal system" (lol).

I'd also like justamomma to enlighten me, and presumably others, on what exactly the Federal Reserve does, since I pose these questions (all my schooling apparently being for naught). A good place to start would be the FOMC and whether or not the target rate leads or follows market conditions. Maybe the FED's true usefulness will be apparent then? Oh what do I know... Please share!



[edit on 12/12/08 by aava]

A better question is who owns the Fed and where is all that money going something to the tune of 800 to 900 billion every year just in interest alone.

I want my country back

reply to post by SLAYER69


I can tell you that debt servicing costs for FY 2007 were about $250 billion. Granted, with the recent bailouts, that is likely to raise substantially. Paying interest on debt owed, a novel concept?