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-- The Secret Criminal Society of the Federal Reserve (Part II)
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| Originally posted by Krypton Wrong. You refuse to debate on point with any of us. Whose staying away from the subject? Respond to my points in the above post you little wimp. Hopefully you won't plagiarize either... |
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| Wrong. You refuse to debate on point with any of us. Whose staying away from the subject? Respond to my points in the above post you little wimp. Hopefully you won't plagiarize either... |
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| Originally posted by {b.s.e.} Man, you should really tone down the abusive language. You lose a bit o' cred when you're calling people names. |
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| Originally posted by culorut Wrong I just refuse to debate with trolls now that most of them have shown their true colors (including you) that is. And if you want me to bring it PM me where I can meet up with you, talking tough on an internet forum is pretty weak. Wimp? LOL |
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| Point 1: Through the invisible tax of inflation that results from the dilution of purchasing power caused by newly created money entering the system reducing the value of dollars already there. Well, what's the alternative? Deflation? You want prices to fall? You want stocks, homes, business values, and assets of all kinds to fall in value? Inflation is an indication of healthy buying in an economy. Printing currency is necessary because as goods and services increase, so to does the money supply, lest they want to deflate everything. There is no such thing as an "inflation tax". It's a great scare tactic. The reality is, prices go up, but so too does wages, and investments, which make up for inflation. Point 1.5: Furthermore, since March, 2006, the Fed stopped publishing the M-3 aggregate of the total amount of dollars in circulation. With that transparency gone, big buyers of US Treasuries now have to calculate the value of the dollar based on speculation and uncertainty rather than hard data - not a way to inspire trust in the financial markets that function best in an atmosphere of openness and clarity. The M-3 aggregate was, "M2 + all other CDs (large time deposits, institutional money market mutual fund balances), deposits of eurodollars and repurchase agreements." The reason they stopped publishing the M-3 aggregate is because it didn't really tell you anything substantially important, that the M-2 aggregate did not already do. I'm guessing you didn't even bother to study up on what the M-aggregates even are... Point 2: The public also loses because the banking cartel is able to practice usury - from it's power over a flexible currency to artificially move rates up or down to any level it chooses which many small lenders in a truly free and open market can't do. Wrong. The Federal Reserve board of governors (who are nominated by the President) decide the interest rates, by lowering or raising the Federal Funds Rate. This is NOT DICTATED BY THE BANKS. It is dictated by the market, in something called the Open Market Operations. I'm not expecting you to have researched any of this......but you need to first learn the basic economics of our financial system, before you go about speaking from ignorance about how evil it all is... Point 3: Through the taxes, we, the public, must pay to cover the interest on the huge national debt (now over $8.4 trillion) accumulated from the money the Fed printed and loaned to the government. As mentioned earlier, that now totals an annualized amount exceeding two-thirds of a trillion dollars and increasing daily. It's made the bankers rich, ordinary people poorer, and the public none the wiser it's been fleeced big time. Wrong again. All interest paid to the Federal Reserve is REBATED, REFUNDED, RETURNED, GIVEN BACK, ETC ETC BACK TO THE US TREASURY. HOW MANY TIMES MUST I REPEAT THIS BEFORE IT'LL SINK INTO YOUR BRAIN??? Point 4: Compounding the above abuse, the cartel is able to get the public to bail out the system with more of its tax dollars. It happens whenever any of the too-big-to-fail banks need financial help to survive. The same is true for big corporations like Chrysler or Lockheed, large investment firms or hedge funds like Long-Term Capital Management or even countries like Mexico. It's also true when a single bank goes out of business and depositors must be compensated or more seriously in the wake of a systemic financial meltdown like the one that wiped out many savings and loan banks in the 1980s. Whether it's a single bank or many dozens at a time, public tax dollars are used to save the system or just pick up the tab to repay depositors insured against losses through government insurance protection up to a stipulated amount per account. Corporate bail outs are seriously ridiculous. We reward executives for running their own companies into ground, privatizing profits, socializing losses, can't disagree here... |
I don't need too, John F Kennedy and Abraham Lincoln already have made this known to the public and tried to abolish the Federal Reserve.
The FED is a scam and it is absolutely corrupt.
After Lincoln printed 400 million dollars of "greenbacks" (real US backed money) the London Times had this to say...
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| "if that mischievous financial policy, which had its origin in the North American Republic, should become indurated down to a fixture, then that Government will furnish its own money without cost. It will pay off debts and be without a debt. It will have all the money necessary to carry on its commerce. It will become prosperous beyond precedent in the history of the civilized governments of the world. The brains and the wealth of all countries will go to North America. That government must be destroyed, or it will destroy every monarchy on the globe." |
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| Originally posted by Krypton And? If I get called a fraud, a troll, etc., I'm not just going to sit back and take it. You've seemed to overlook that?? I fight fire with fire. |
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| Originally posted by culorut I don't need too, John F Kennedy and Abraham Lincoln already have made this known to the public and tried to abolish the Federal Reserve. The FED is a scam and it is absolutely corrupt. After Lincoln printed 400 million dollars of "greenbacks" (real US backed money) the London Times had this to say... A bit odd what reading a little bit of your own history proves don't you think? |
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| Originally posted by {b.s.e.} Heh, touche. I think I'm just going to mind my biz. |
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| So you refuse to debate? JFK and Lincoln are DEAD. They can't answer my questions or criticisms. YOU CAN. I don't want a copy & pasted (plagiarized) London Times quote. I want YOUR refutes. I want a fucking debate. I made 5 CLEAR points, without plagiarizing. Are you not capable of doing the same? |
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| Originally posted by culorut ^^ Exactly the reason you will never understand then. This is why I don't bother with hard headed trolls, you do not even attempt to accept the hard facts and acknowledge history. (your own I might add) Stick to debating topics you seem to specialize in. I will help you out with one.... What came first, the chicken or the egg? |
...no wonder you refuse to debate with me. You don't know what you're talking about!! You rely on others to talk for you...
There is nothing to argue about if you choose to ignore history and the hard facts behind the very country you live in to begin with. Maybe it is just me but just because you "specialize" in a subject does not mean you can change history. Facts are facts and many high ranking people including two past presidents of your country fought to abolish the corrupt bankers and their system.
You shot yourself in the foot before starting and I really do not feel like going in a never ending cycle debate over the ignorance of a troll(s).
This is why I gave you the chicken and egg topic, maybe you and PKC can go at it until the end of time in that thread and be pleased with yourselves. It should fulfill the needs of the both of you because of your ignorance's.
I can see why trancer-x stopped bothering with you and a few others a while back and got to posting more straight forward links, videos and what not.
You and your kind are just a waste of time and trancer-x picked up on it a very long time ago.
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| Originally posted by culorut John F Kennedy...tried to abolish the Federal Reserve. |
No you are an ignorant troll, you obviously have never seen real US tender.
This is what they look like, again I might add.
Let me help your pathetic ass, up top it says "UNITED STATES NOTE".
Kennedy printed 4 Billion Dollars worth of $2 and $5 notes alone, the $10 and $20 notes where on the way. He was absolutely going to get rid of the federal reserve notes. It is so obvious I would not expect your sorry ass to see it because it is now common knowledge you don't watch the videos posted nor bother to learn factual american history.
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| When President John Fitzgerald Kennedy - the author of Profiles in Courage -signed this Order, it returned to the federal government, specifically the Treasury Department, the Constitutional power to create and issue currency -money - without going through the privately owned Federal Reserve Bank. President Kennedy's Executive Order 11110 gave the Treasury Department the explicit authority: "to issue silver certificates against any silver bullion, silver, or standard silver dollars in the Treasury." This means that for every ounce of silver in the U.S. Treasury's vault, the government could introduce new money into circulation based on the silver bullion physically held there. As a result, more than $4 billion in United States Notes were brought into circulation in $2 and $5 denominations. $10 and $20 United States Notes were never circulated but were being printed by the Treasury Department when Kennedy was assassinated. It appears obvious that President Kennedy knew the Federal Reserve Notes being used as the purported legal currency were contrary to the Constitution of the United States of America. |
oh, so now youre an expert on law, as well as demolitions, engineering and economics
needless to say you don't have the requisite knowledge in order to be making any of the claims that you make. get an education you ignorant hick!
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BY: Edward Flaherty, Ph.D. Department of Economics College of Charleston, S.C. Presidential Executive Order 11,110 is quite infamous among conspiracy buffs. Jim Marrs, author of Crossfire: The Plot that Killed Kennedy, writes that the order instructs the Treasury secretary to issue about $4.2 billion in silver certificates as a form of currency in place of Federal Reserve Notes.1 Written by John F. Kennedy, Marrs also speculates this order was part of a larger plan by Kennedy to reduce the influence of the Federal Reserve by giving the Treasury more power to issue currency. The order was signed June 4, 1963. A few months later, of course, Kennedy was killed, and conspiracy theorists hypothesize a link between the murder and E.O. 11,110. They argue that the Federal Reserve was somehow involved in the assassination to protect its power over monetary policy. The executive order modifies a pre-existing order issued by Harry Truman in 1951. E.O. 10,289 states "The Secretary of the Treasury is hereby designated and empowered to perform the following-described functions of the President without the approval, ratification, or other action of the President..." The order then lists tasks (a) through (h) which the Treasurer can now do without bothering the President. None of the powers assigned to the Treasury in E.O. 10,289 relate to money or to monetary policy. Kennedy's E.O. 11,110 then instructs that SECTION 1. Executive Order No. 10289 of September 9, 1951, as amended, is hereby further amended (a) By adding at the end of paragraph 1 thereof the following subparagraph (j): '(j) The authority vested in the President by paragraph (b) of section 43 of the Act of May 12, 1933, as amended (31 U.S.C. 821(b)), to issue silver certificates against any silver bullion, silver, or standard silver dollars in the Treasury not then held for redemption of any outstanding silver certificates, to prescribe the denominations of such silver certificates, and to coin standard silver dollars and subsidiary silver currency for their redemption,' and (b) By revoking subparagraphs (b) and (c) of paragraph 2 thereof. SECTION 2. The amendments made by this Order shall not affect any act done, or any right accruing or accrued or any suit or proceeding had or commenced in any civil or criminal cause prior to the date of this Order but all such liabilities shall continue any may be enforced as if said amendments had not been made. John F. Kennedy, THE WHITE HOUSE, June 4, 1963. To understand exactly what Kennedy's order was trying to do, we must understand the purpose of the legislation which gave the order its underlying authority. The Agricultural Adjustment Act of May 12, 1933 (ch. 25, 48 Stat 51) to which Kennedy refers permits the President to issue silver certificates in various denominations (mostly $1, $2, $5, and $10) and in any total volume so long as the Treasury has enough silver on hand to redeem the certificates for a specific quantity and fineness of silver and that the total volume of such currency does not exceed $3 billion. The Silver Purchase Act of 1934 (ch. 674,48 Stat 1178) also grants this power to the Treasury Secretary subject to similar limitations. Nowhere in the text of the order is a quantity of money mentioned, so it is unclear how Marrs arrived at his $4.2 billion figure. Moreover, the President could not have authorized such a large issue because it would have exceeded the statutory limit.2 As economic activity grew in the fifties and sixties, the public demand for low denomination currency grew, increasing the Treasury's need for silver to back additional certificate issues and to mint new coins (dimes, quarters, half-dollars). However, during the late fifties the price of silver began to rise and reached the point that the market value of the silver contained in the coins and backing the certificates was greater than the face value of the money itself.2 To conserve the Treasury's silver needs, the Silver Purchase Act and related measures were repealed by Congress in 1963 with Public Law 88-36. Following the repeal, only the President could authorize new silver certificate issues, and no longer the Treasury Secretary. The law, signed by Kennedy himself, also permits the Federal Reserve to issue small denomination bills to replace the outgoing silver certificates (prior to the act, the Fed could only issue Federal Reserve Notes in larger denominations). The Treasury's shrinking silver stock could then be used to mint coins only and not have to back currency. The repeal left only the President with the authority to issue silver certificates, however it did permit him to delegate this authority. E.O. 11,110 does this by transferring the authority from the President to the Treasury Secretary.2 E.O. 11,110 did not create authority to issue new silver certificates, it only affected who could give the order. The purpose of the order was to facilitate the reduction of certificates in circulation, not to increase them. In October 1964 the Treasury ceased issuing them entirely. The Coinage Act of 1965 (PL 89-81) ended the practice of using silver in most U.S. coins, and in 1968 Congress ended the redeemability of silver certificates (PL 90-29). E.O. 11,110 was never reversed by President Johnson and remained on the books until 1987 when there was a general cleaning-up of executive orders (E.O. 12,608, 9/9/87). However, by this time the remaining legislative authority behind E.O. 11,110 had been repealed by Congress with PL 97-258 in 1982.2 In summary, E.O. 11,110 did not create new authority to issue additional silver certificates. In fact, its intention was to ease the process for their removal so that small denomination Federal Reserve Notes could replace them in accordance with a law Kennedy himself signed. If Kennedy had really sought to reduce Federal Reserve power, then why did he sign a bill that gave the Fed still more power? Marrs also makes some other factual errors in his conspiracy tale that suggest he is not very familiar with the Federal Reserve or the financial system. He writes that a source of tension between the Federal Reserve and the Kennedy Administration was the Treasury's desire to allow banks to underwrite state and local government bonds, thereby weakening the "dominant" Federal Reserve banks. However, such a move, which was later permitted by Congress, would not have affected the Federal Reserve system because it had never been involved in underwriting bond issues. Marrs also claims that Kennedy signed a bill that changed the backing of small denomination currency from silver to gold to "add strength to the weakened U.S. currency." This is completely false. U.S. currency has not been on the gold standard since 1934, and silver certificates, as their name suggests, had never been redeemable in anything but silver. In addition, U.S. currency was not "weak" during Kennedy's time: There had not been any significant inflation since the late forties, and the exchange rate value of the dollar was fixed according to the Bretton Woods agreement. In the introduction to his book, Marrs advises the reader not to trust his book. This appears to be good advice. References: 1. Marrs, Jim (1989), Crossfire: The Plot that Killed Kennedy, New York: Carroll & Graf Publishers. 2. Woodward, G. Thomas (1996), "Money and the Federal Reserve System: Myth and Reality," Congressional Research Service. |
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| Originally posted by culorut There is nothing to argue about if you choose to ignore history and the hard facts behind the very country you live in to begin with. Maybe it is just me but just because you "specialize" in a subject does not mean you can change history. Facts are facts and many high ranking people including two past presidents of your country fought to abolish the corrupt bankers and their system. |
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| You shot yourself in the foot before starting and I really do not feel like going in a never ending cycle debate over the ignorance of a troll(s). |
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| This is why I gave you the chicken and egg topic, maybe you and PKC can go at it until the end of time in that thread and be pleased with yourselves. It should fulfill the needs of the both of you because of your ignorance's. |
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| I can see why trancer-x stopped bothering with you and a few others a while back and got to posting more straight forward links, videos and what not. |
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| You and your kind are just a waste of time and trancer-x picked up on it a very long time ago. |
...Mr. Libertarian dictator you...
...Well, expect more plagiarizing from our so-called experts on history, economics, and engineering. Anything else I missed?
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| but i don't expect you to understand, and im sure you'll be posting more lies soon. im sorry your parents couldn't afford to send you to a good school. |
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| [b]Originally posted by Krypton |
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| Originally posted by culorut LOL I am not lying, I have an education (traveled the globe and have been to places you can only dream of because of it). And yes I have lots of money too, actually more than a lot mostly because of the education you claim I do not have. Check, check and check. Thanks for making me look at my life this very moment and realize I am so far beyond your pathetic failure of an attempt to become something in this world. |
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| Originally posted by culorut I see you have lost the last marble you had left in an already empty head. Read back what you just posted and take a good look at the picture you placed at the bottom... Oh the irony. |
At least you and PKC are making magazine covers.
That's it? You cry troll like a toddler cries "mama". Grab your nutsack, and answer my debate challenge, you plagiarizing fool.
Yes that's it, no point to argue with moronic trolls. It's better to ignore or just use the same approach to bring out the best in them.
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| Originally posted by culorut Yes that's it, no point to argue with moronic trolls. It's better to ignore or just use the same approach to bring out the best in them. |
There is nothing to debate you moron, you do not even know american history. And yes you just defined what a troll is again with your last post.
Fits you and PKC to a tee, you have become the fucking troll police.
LOL
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