|
|
|
sickmint79
New Member
24 Posts |
Posted - 06/15/2007 : 22:52:37 [Permalink]
|
| perhaps i'll look later then, 1am is when i jog, eat oatmeal and go to sleep |
 |
|
|
sickmint79
New Member
24 Posts |
Posted - 06/16/2007 : 08:42:48 [Permalink]
|
| will people be able to answer these questions here or do i need to find some kind of economist forum? |
|
|
|
JEROME DA GNOME
BANNED
2418 Posts |
 Posted - 06/16/2007 : 08:45:30 [Permalink]
|
Originally posted by sickmint79
will people be able to answer these questions here or do i need to find some kind of economist forum?
|
What questions?
|
What a man believes upon grossly insufficient evidence is an index into his desires -- desires of which he himself is often unconscious. If a man is offered a fact which goes against his instincts, he will scrutinize it closely, and unless the evidence is overwhelming, he will refuse to believe it. If, on the other hand, he is offered something which affords a reason for acting in accordance to his instincts, he will accept it even on the slightest evidence. The origin of myths is explained in this way. - Bertrand Russell |
|
|
|
sickmint79
New Member
24 Posts |
Posted - 06/16/2007 : 09:06:04 [Permalink]
|
| my first 2 posts; those posted on page 6. |
|
|
|
JEROME DA GNOME
BANNED
2418 Posts |
Posted - 06/16/2007 : 09:16:51 [Permalink]
|
Sickmint79 asked "what is the advantage to having a privately owned central bank?"
The common reason in favor is to prevent monetary cycles which cause economic unrest.
If fact the opposite occurs.
|
What a man believes upon grossly insufficient evidence is an index into his desires -- desires of which he himself is often unconscious. If a man is offered a fact which goes against his instincts, he will scrutinize it closely, and unless the evidence is overwhelming, he will refuse to believe it. If, on the other hand, he is offered something which affords a reason for acting in accordance to his instincts, he will accept it even on the slightest evidence. The origin of myths is explained in this way. - Bertrand Russell |
|
|
|
JEROME DA GNOME
BANNED
2418 Posts |
Posted - 06/16/2007 : 09:21:03 [Permalink]
|
Sickmint79 asked "my question is as to what the advantages are by having this central bank be private."
The answer would be that a private bank would not be manipulated by government for political benefit.
The truth is representatives in government could be voted out; and private bankers can not.
|
What a man believes upon grossly insufficient evidence is an index into his desires -- desires of which he himself is often unconscious. If a man is offered a fact which goes against his instincts, he will scrutinize it closely, and unless the evidence is overwhelming, he will refuse to believe it. If, on the other hand, he is offered something which affords a reason for acting in accordance to his instincts, he will accept it even on the slightest evidence. The origin of myths is explained in this way. - Bertrand Russell |
|
|
|
JEROME DA GNOME
BANNED
2418 Posts |
Posted - 06/16/2007 : 09:25:57 [Permalink]
|
Sickmint79 ASKED "by whatever method, is it correct to say that each $1 i spend on federal income taxes is not a dollar given to the government, but ultimately arrives as a dollar with some debt/interest that must be paid, which goes to profit the private corporations who own the federal reserve?"
Without the need to pay interest on money created by a private bank the government would not need to collect income tax for this purpose.
Notice the income tax amendment was ratified just prior to the Federal Reserve legislation passing.
|
What a man believes upon grossly insufficient evidence is an index into his desires -- desires of which he himself is often unconscious. If a man is offered a fact which goes against his instincts, he will scrutinize it closely, and unless the evidence is overwhelming, he will refuse to believe it. If, on the other hand, he is offered something which affords a reason for acting in accordance to his instincts, he will accept it even on the slightest evidence. The origin of myths is explained in this way. - Bertrand Russell |
|
|
|
JEROME DA GNOME
BANNED
2418 Posts |
Posted - 06/16/2007 : 09:34:25 [Permalink]
|
Sickmint79 asked "if the bank is able to lend out more money than it has assets, will it not force inflation (fractional reserve banking)?"
Not always, it would depend on whether the natinal GDP grew in sync with the influx of money. If there are more goods there needs to be more money.
Fiat currency is a better method, as was done in colonial times. At this point in history money served the public as a tool of transfer for goods and labor.
|
What a man believes upon grossly insufficient evidence is an index into his desires -- desires of which he himself is often unconscious. If a man is offered a fact which goes against his instincts, he will scrutinize it closely, and unless the evidence is overwhelming, he will refuse to believe it. If, on the other hand, he is offered something which affords a reason for acting in accordance to his instincts, he will accept it even on the slightest evidence. The origin of myths is explained in this way. - Bertrand Russell |
|
|
|
Dave W.
Info Junkie
USA
26022 Posts |
|
|
sickmint79
New Member
24 Posts |
Posted - 06/16/2007 : 17:17:24 [Permalink]
|
| i am trying to find a better location to discuss just the current state of the fed and our money system. i do not find it implausible that the current one has been manipulated, but it seems that many believe the current system is flawed regardless of any conspirators. having a tough time finding an internet forum of economics nerds to discuss. |
|
|
|
sickmint79
New Member
24 Posts |
Posted - 06/16/2007 : 17:25:16 [Permalink]
|
Originally posted by Cuneiformist
Originally posted by JEROME DA GNOME
www.measuringworth.com/calculators/inflation/
average inflation percentage per year
1780-1800 -0.44
1800-1820 -0.34
1820-1840 -1.51
1840-1860 -0.19
1860-1880 +1.04
1880-1900 -0.98
100 years 1780-1880 -0.29 per year average
1900-1920 +4.61
1920-1940 -1.77
1940-1960 +3.81
1960-1980 +5.25
1980-2000 +3.76
100 years 1900-2000 +3.10 per year average
As one can clearly see prior to the federal reserve inflation was negligible. After the inception of the federal reserve inflation has been a constant.
Inflation is a de facto tax on savings. |
Of course, the US economy was exactly the same in 1800 as is was in 2000, right? The same population base? The same geopolitical situation? Trade agreements? Social needs? Social mobility? Technology? No, the only fracking difference in the economic situation in the US when comparing 1800 to 2000 is some stupid conspiracy-driven Woodrow Wilson Federal Reserve regulation. Excellent. Thanks for the childish simplistic conspiracy theory, Jerome. With such insightful observations as yours, I'm sure all economic woes will be solved in no time.
|
i would not discount this as throwaway information in the argument. i would say we need some actual macroeconmists to join this discussion though. |
|
|
|
JEROME DA GNOME
BANNED
2418 Posts |
Posted - 06/16/2007 : 17:31:33 [Permalink]
|
Originally posted by Dave W.
All sorts of answers without a reference in sight. Take all with a grain of salt, Sickmint79.
|
Dave, do you ever use that thing on your shoulders; or just wait for others to tell you what to think?
By the way there are pages of references in these posts.
|
What a man believes upon grossly insufficient evidence is an index into his desires -- desires of which he himself is often unconscious. If a man is offered a fact which goes against his instincts, he will scrutinize it closely, and unless the evidence is overwhelming, he will refuse to believe it. If, on the other hand, he is offered something which affords a reason for acting in accordance to his instincts, he will accept it even on the slightest evidence. The origin of myths is explained in this way. - Bertrand Russell |
|
|
|
Dave W.
Info Junkie
USA
26022 Posts |
Posted - 06/16/2007 : 18:42:58 [Permalink]
|
Originally posted by JEROME DA GNOME
Dave, do you ever use that thing on your shoulders; or just wait for others to tell you what to think? |
Ah, an ad hominem argument.| By the way there are pages of references in these posts. |
I haven't seen many from you since Sickmint79 showed up, and Sickmint79 is obviously unimpressed with the level of scholarship that's been displayed, too. |
- Dave W. (Private Msg, EMail)
Evidently, I rock!
Why not question something for a change?
Visit Dave's Psoriasis Info, too. |
|
|
|
JEROME DA GNOME
BANNED
2418 Posts |
Posted - 06/16/2007 : 19:10:16 [Permalink]
|
Dave, everyone has seems to be run off by my incredible skill of presenting indisputable evidence.
 |
What a man believes upon grossly insufficient evidence is an index into his desires -- desires of which he himself is often unconscious. If a man is offered a fact which goes against his instincts, he will scrutinize it closely, and unless the evidence is overwhelming, he will refuse to believe it. If, on the other hand, he is offered something which affords a reason for acting in accordance to his instincts, he will accept it even on the slightest evidence. The origin of myths is explained in this way. - Bertrand Russell |
|
|
|
Dave W.
Info Junkie
USA
26022 Posts |
Posted - 06/16/2007 : 20:16:24 [Permalink]
|
Originally posted by JEROME DA GNOME
Dave, everyone has seems to be run off by my incredible skill of presenting indisputable evidence. |
"Incredible" being precisely the right word to use. |
- Dave W. (Private Msg, EMail)
Evidently, I rock!
Why not question something for a change?
Visit Dave's Psoriasis Info, too. |
|
|
 |
|
Federal Reserve Act in 1913
