View Poll Results: Please, rate FED's 100 years of existence

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    4 28.57%
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    1 7.14%
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    2 14.29%
  • 4 stars

    1 7.14%
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    6 42.86%
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Thread: FED is turning 100

  1. #11
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    Re: FED is turning 100

    a very dark year for America 1913........16th amendment, 17th amendment, and the federal reserve act.

  2. #12
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    Re: FED is turning 100

    Quote Originally Posted by RabidAlpaca View Post
    We've lost 98% of the value of the dollar in the past 100 years.
    A stat that sounds devastating when one fails to acknowledge the gains in real income of well over 200 percent in the same time period.

  3. #13
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    Re: FED is turning 100

    0. I vote 0.

  4. #14
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    Re: FED is turning 100

    Quote Originally Posted by RabidAlpaca View Post
    What the hell man? No "zero stars"?

    We've lost 98% of the value of the dollar in the past 100 years. The fed is a vehicle to give the rich near zero interest loans and push the cost of those loans on to the American people. It was created for the rich, by the rich, and it has fulfilled its purpose very well. It is easily the most destructive part of our government.

    as of 2008 it took $21.57 to equal the value of a 1913 dollar.

  5. #15
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    Re: FED is turning 100

    Quote Originally Posted by a351 View Post
    A stat that sounds devastating when one fails to acknowledge the gains in real income of well over 200 percent in the same time period.
    First, I think you're failing to understand percentages. No matter how much value the dollar loses, it can never lose more than 100% of it's value. For instance, the loss of 98% is something like a 2100% decrease (as Ernst Barkmann pointed out in 2008 $21.57 equaled the purchasing power for 1 1913 dollar). A 200% increase for wages, however, is only double.

    Real wages have increased a lot more than double, but the issue is that the when the fed has an inflation target of 2-3% a year, it makes it very hard for the middle class to save. You have to get at least 2-3% return just to break even. CD's, for instance, have a negative return. The Fed prints money to inflate away the worth of the middle class, then uses that printed money to give 0% interest loans to rich bankers who turn around and loan that very same money to the middle class at 6%. For them it is free money.

    The rich also have financial advisors who help them hedge against inflation, and hard assets appreciate. Make no mistake, the fed was created for the rich, by the rich.
    Quote Originally Posted by LowDown View Post
    I've got to say that it is shadenfreudalicious to see the rich and famous fucquewads on the coast suffering from the fires.

  6. #16

  7. #17
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    Re: FED is turning 100

    Quote Originally Posted by RabidAlpaca View Post
    What the hell man? No "zero stars"?

    We've lost 98% of the value of the dollar in the past 100 years. The fed is a vehicle to give the rich near zero interest loans and push the cost of those loans on to the American people. It was created for the rich, by the rich, and it has fulfilled its purpose very well. It is easily the most destructive part of our government.
    Says it all.

    Oh, I would just add that the Fed actually is a privately owned enterprise that issues shares (privately).

    So, this is a company that has the power to produce - at will - a trillion dollars out of thin air and give it to almost anyone it wishes.

    And since most of it's shareholders are banks - guess where that money goes when times are tough?


    The whole Fed system is absolute madness.

  8. #18
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    Re: FED is turning 100

    Quote Originally Posted by DA60 View Post
    Says it all.

    Oh, I would just add that the Fed actually is a privately owned enterprise that issues shares (privately).

    So, this is a company that has the power to produce - at will - a trillion dollars out of thin air and give it to almost anyone it wishes.

    And since most of it's shareholders are banks - guess where that money goes when times are tough?


    The whole Fed system is absolute madness.
    People make that argument, and on paper it might be true, but don't be mistaken, it is 100% a government institution. If you or me tried to do ANYTHING they do, absolutely anything, our asses will be thrown in jail quick as ****.

    That is pretty much the definition of a government agency. They are funded by the taxpayers, and they have magical powers that the taxpayers don't have.
    Quote Originally Posted by LowDown View Post
    I've got to say that it is shadenfreudalicious to see the rich and famous fucquewads on the coast suffering from the fires.

  9. #19
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    Re: FED is turning 100

    Quote Originally Posted by RabidAlpaca View Post
    People make that argument, and on paper it might be true, but don't be mistaken, it is 100% a government institution. If you or me tried to do ANYTHING they do, absolutely anything, our asses will be thrown in jail quick as ****.

    That is pretty much the definition of a government agency. They are funded by the taxpayers, and they have magical powers that the taxpayers don't have.
    Yes, they are regulated by the government - and the government can take their power away any time it wants.

    But my point was that the Fed actually has shares and is technically a private company that is technically controlled by the government...as opposed to an actual, bureaucratic, not-for-profit part of government...like the Department of the Treasury.

  10. #20
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    Re: FED is turning 100

    With a day delay...

    Happy birthday to you,
    Happy birthday to you,
    Happy birthday, dear FED,
    Happy birthday, drop dead!


    I got the rhyme on this one, alright.

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