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HR 1207 : Federal Reserve Transparency Act 2009 (pg. 15)
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| pkcRAISTLIN |
| quote: | Originally posted by ********
Only a moron would deny the US fiancial sector controls US economic policy. |
only a moron thinks private banks control the monetary policies of the federal reserve. they are an independent government agency.
go to school. |
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| DOOMBOT |
| quote: | Originally posted by Krypton
No it doesn't. History shows that the economy has exponentially expanded far more since 1913 than before. 60-70% of the time since 1928, the economy has expanded. Before you tell me to do research that I have already done, perhaps, you should put your money where your mouth is?
The free market used to decide. In fact, there were many currencies all competing against each other in just this country. With each state printing its own currencies, that was proven to be an utter failure.
Endlessly printing money to fix problems? That's exactly what isn't happening. The massive contraction of the money supply warranted liquidity transfusions into the system. Oh, but I forgot, you actually believe deflation is a good thing...
What do you want? A pound of gold in your pocket? |
Dude, you're not even making any sense. :( |
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| jerZ07002 |
| quote: | Originally posted by DOOMBOT
Any attempt to manipulate the money supply is eventually going to end in failure. History shows us that this always happens. You can figure this out by reading through the different panics of the 1800's that I was asked to give an opinion on. If you don't agree with my understanding of them, I suggest doing your own research, which I find a little obvious that you have never done. It's simply better to just let the free market decide what it wants to use as money and set prices and interest rates. People obviously don't mind using gold or silver as money but look at what happens when the bank starts issuing paper notes that are supposedly backed by the gold and silver. We find out that more paper notes are being issued then there are gold and silver to back them. So we in turn get really high inflation and an increase in prices, when in reality, there shouldn't be because there never really was much of an increase in gold/silver in the markets in the first place!
I'm not saying I do not agree with the idea of banking but the idea of issuing paper notes that are supposed to be backed by something of value to people is obviously a horrible idea. It consistently fails. Why do you think our dollars are no longer backed by anything of value? Because to do so is obviously an impossible task! Now we have much larger problems because we have given free reign to people who insist that printing money endlessly is going to fix problems. People may have had blind faith in a fiat currency for a while but it is obviously coming to an end. |
so what is your alternative proposal? trading in sea shells? bartering?
i don't know why everyone on this board thinks inflation is necessarily a bad thing. modest inflation (2%-3%) causes wages and corporate profits to increase. If you don't have significant fixed income assets, substantial inflation actually causes a decrease in the cost of your fixed costs (i.e., mortgage, student loans, etc...). Sure, other non-fixed expenses rise as well, but as long as your real purchasing power doesn't decrease you are in no worse a position. |
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| pkcRAISTLIN |
| moderate inflation also creates risk and invites investment. |
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| DOOMBOT |
| quote: | Originally posted by jerZ07002
so what is your alternative proposal? trading in sea shells? bartering? |
What is my alternative proposal? You act as if I am the one calling the shots. My whole point is to let a free market decide. If the free market decides sea shells, then yes. Something tells me that won't be the case but who the heck cares if it is? You are defending a group of people who are going to decide the end all be all of what your purchasing power is going to be and that is historically proven to not work!
| quote: | | i don't know why everyone on this board thinks inflation is necessarily a bad thing. modest inflation (2%-3%) causes wages and corporate profits to increase. If you don't have significant fixed income assets, substantial inflation actually causes a decrease in the cost of your fixed costs (i.e., mortgage, student loans, etc...). Sure, other non-fixed expenses rise as well, but as long as your real purchasing power doesn't decrease you are in no worse a position. |
Inflation is a bad thing when it is influenced by central planning. Intelligent arguments have been made 100 times over as to why. You just don't seem to either get it or want to understand another point of view. |
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| pkcRAISTLIN |
| Jerz, I wouldn’t waste your time. Doombot understands next to nothing about economic theory, and merely parrots the talking points of those frauds from the Austrian school. He has absolutely NO idea what the abolition of the central banks would do for his free market. |
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| DOOMBOT |
| I'd really like for those of you who do not agree with me to go over the panics in the 1800's, like I did, and give me your input as to why you believe they happened. |
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| DOOMBOT |
| quote: | Originally posted by pkcRAISTLIN
Jerz, I wouldn’t waste your time. Doombot understands next to nothing about economic theory, and merely parrots the talking points of those frauds from the Austrian school. He has absolutely NO idea what the abolition of the central banks would do for his free market. |
Central banking and free markets don't even go hand in hand with our society today. The fact that you believe these two go hand in hand tells everyone your ignorance to what a free market really is. |
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| pkcRAISTLIN |
| quote: | Originally posted by DOOMBOT
Central banking and free markets don't even go hand in hand with our society today. |
wrong. |
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| DOOMBOT |
| quote: | Originally posted by pkcRAISTLIN
wrong. |
Wow, great argument. You just made me rethink my entire stance on this issue.
:stongue:
Ps - Any time you want to run through the panics of the 1800s and give any intelligent opinion on why they came about, be our guest. :) |
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| pkcRAISTLIN |
| quote: | Originally posted by DOOMBOT
Wow, great argument. You just made me rethink my entire stance on this issue. |
oh, how compelling!
| quote: | Originally posted by pkcRAISTLIN
ok, im gonna take you seriously just this once. id like a proper response...
yeah, i didnt think you could answer them. i would've expected someone with such rigid convictions to have more of an idea about what they hated? though im obviously not surprised by the ignorance. |
| quote: | Originally posted by DOOMBOT
Ps - Any time you want to run through the panics of the 1800s and give any intelligent opinion on why they came about, be our guest. :) |
occrider has already done exactly that previously. not our fault youre a noob. |
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| DOOMBOT |
| quote: | Originally posted by pkcRAISTLIN
oh, how compelling!
occrider has already done exactly that previously. not our fault youre a noob. |
I'm asking for your opinion. You telling us that you can't think for yourself?
So, why do think think California is in the shape that it is in, financially, today? Should we be printing more dollars for them too? Its interesting that, for someone who is an obvious advocate for the recent USA economic philosophies, you can't even make 1 single argument as to why they are actually sound policies. Your government is doing everything that it possibly can to prove to the world that these economic policies don't work, yet people like yourself insist that they do. So please, tell us, why is it that you believe that the Keynesian philosophy is the way to go? What should our country be doing right now to get us out of the current mess we are in? I've given my stance, now you give me yours.
:) |
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