Post by Matt D. on Mar 4, 2014 22:38:45 GMT -5
What is your opinion on the federal reserve?
Here is an article on it. en.wikipedia.org/wiki/Federal_Reserve_System
Basically, it is a system of banks who own and control the US currency. I am no expert, and I don't have a very good grip on the monetary system, but I don't think it takes a genius to see from this article that the over 1 trillion dollars in liabilities that the fed lists isn't a good thing. That is a lot of money. (1.25 trillion according to the federal reserve) If that money is listed as a liability, Is it not worthless? People will accept it, but what backs it up? Are we willing to let a system of banks be both the investigator and and the investigated? That doesn't make sense.
With the assets at just over 2.2 trillion, and the liabilities at around 1.25 trillion, that leaves roughly 1.1 trillion in assets left over. So we have 1.1 trillion dollars to back up our trillions in circulation? According to the Federal reserve website, there is about 1.25 trillion dollars in circulation.
So according to this article, we have about 1650.78 in assets left over once liabilities are paid. I find it interesting to note that over 170 million dollars in liabilities are listed under "Foreign Officials".
Ok. Let's think about that for a second. Since the federal reserve is owned by banks who meet the criteria, and it is controlled by their executives, why do they want to send money to foreign officials? They have investors. People have bought shares in their banks. Some of those people were from overseas. So what does this all have to do with the federal reserve?
If a company has investors, it's best bet is to keep those investors happy, lest they pull their investments. If a certain investor wasn't a big fan of the fact that US currency's value was high (Let's say a Chinese investor), they could pull their investment, which would crash the US monetary system by removing assets from the Federal reserve, Or they could threaten to pull their investments unless more money was printed, lowering the value of the dollar.
See any problems yet?
I don't know about you guys, but I am not a big fan of the federal reserve.
I would like to see us go back to "silver certificates", redeemable for the face value in silver. That would make them valuable, because it limits the amount printed to the amount of physical silver in the treasury. That's what was meant to be our currency. If nothing else, we should at least remove taxes from gold and silver and allow them to be used as currency for all debts, charges, and fees.
That would at least allow people to use a currency that has physical value, not just paper money, backed up with paper money from other countries.
What say all of you?
Here is an article on it. en.wikipedia.org/wiki/Federal_Reserve_System
Basically, it is a system of banks who own and control the US currency. I am no expert, and I don't have a very good grip on the monetary system, but I don't think it takes a genius to see from this article that the over 1 trillion dollars in liabilities that the fed lists isn't a good thing. That is a lot of money. (1.25 trillion according to the federal reserve) If that money is listed as a liability, Is it not worthless? People will accept it, but what backs it up? Are we willing to let a system of banks be both the investigator and and the investigated? That doesn't make sense.
With the assets at just over 2.2 trillion, and the liabilities at around 1.25 trillion, that leaves roughly 1.1 trillion in assets left over. So we have 1.1 trillion dollars to back up our trillions in circulation? According to the Federal reserve website, there is about 1.25 trillion dollars in circulation.
So according to this article, we have about 1650.78 in assets left over once liabilities are paid. I find it interesting to note that over 170 million dollars in liabilities are listed under "Foreign Officials".
Ok. Let's think about that for a second. Since the federal reserve is owned by banks who meet the criteria, and it is controlled by their executives, why do they want to send money to foreign officials? They have investors. People have bought shares in their banks. Some of those people were from overseas. So what does this all have to do with the federal reserve?
If a company has investors, it's best bet is to keep those investors happy, lest they pull their investments. If a certain investor wasn't a big fan of the fact that US currency's value was high (Let's say a Chinese investor), they could pull their investment, which would crash the US monetary system by removing assets from the Federal reserve, Or they could threaten to pull their investments unless more money was printed, lowering the value of the dollar.
See any problems yet?
I don't know about you guys, but I am not a big fan of the federal reserve.
I would like to see us go back to "silver certificates", redeemable for the face value in silver. That would make them valuable, because it limits the amount printed to the amount of physical silver in the treasury. That's what was meant to be our currency. If nothing else, we should at least remove taxes from gold and silver and allow them to be used as currency for all debts, charges, and fees.
That would at least allow people to use a currency that has physical value, not just paper money, backed up with paper money from other countries.
What say all of you?