Today the Fed is 100 years old

Happy Birthday to those in the Fed.

In celebration, I sent them a card and scribbled an IOU on it worth $50 that I told them I would buy back and resell it at a later date, only to be mailed back to them.

Where would be without them? Could we even function?

Originally posted by whodey
Happy Birthday to those in the Fed.

In celebration, I sent them a card and scribbled an IOU on it worth $50 that I told them I would buy back and resell it at a later date, only to be mailed back to them.

Where would be without them? Could we even function?

Yes...we could function, but it would be more difficult. The Fed does a pretty good job of stabilizing our economy.

Originally posted by whodey
Happy Birthday to those in the Fed.

In celebration, I sent them a card and scribbled an IOU on it worth $50 that I told them I would buy back and resell it at a later date, only to be mailed back to them.

Where would be without them? Could we even function?

If you could choose to live either in today's America, or in the America of 1913, which would you choose?

Originally posted by bill718
Yes...we could function, but it would be more difficult. The Fed does a pretty good job of stabilizing our economy.

The US could function but not the way the country is run now where the primary function of government has become a printing press of money for the world.

Originally posted by KazetNagorra
If you could choose to live either in today's America, or in the America of 1913, which would you choose?

I would much prefer a limited government where states had rights set up the way it was created.

Next question.

Originally posted by whodey
I would much prefer a limited government where states had rights set up the way it was created.

Next question.

So you prefer 1913, then. Next question: have you considered applying for psychiatric treatment?

Originally posted by whodey
Happy Birthday to those in the Fed.

In celebration, I sent them a card and scribbled an IOU on it worth $50 that I told them I would buy back and resell it at a later date, only to be mailed back to them.

Where would be without them? Could we even function?

What would you replace the Fed with?
Digging Gold and Silver up out of the ground and minting coins from it?
Bartering for stuff or labor and hope you don't get screwed?
What?

Originally posted by KilgoreTrout15
What would you replace the Fed with?
Digging Gold and Silver up out of the ground and minting coins from it?
Bartering for stuff or labor and hope you don't get screwed?
What?

Well that is just it, Progressives have driven up the debt to such a place that it is no longer manageable.

Once the system destroys itself perhaps going back to the gold standard would be nice, but they won't. They will just adopt some other fiat system that will go bust as well. That's because with a fiat system, it's just monopoly money and you can spend more than you have.

It's like asking those in government, would you like your own bank account or a machine to make money for you? The choice is obvious.

Originally posted by whodey
I would much prefer a limited government where states had rights set up the way it was created.

Next question.

States rights is what the south claimed was their justification for slavery. Good call Whodey!🙄

Originally posted by whodey
Well that is just it, Progressives have driven up the debt to such a place that it is no longer manageable.

Once the system destroys itself perhaps going back to the gold standard would be nice, but they won't. They will just adopt some other fiat system that will go bust as well. That's because with a fiat system, it's just monopoly money and you can s ...[text shortened]... would you like your own bank account or a machine to make money for you? The choice is obvious.

The "Gold System" is no better than bartering.
The Federal Reserve System isn't perfect but it beats the hell out of any other thing to date.

Originally posted by whodey
Well that is just it, Progressives have driven up the debt to such a place that it is no longer manageable.

Once the system destroys itself perhaps going back to the gold standard would be nice, but they won't. They will just adopt some other fiat system that will go bust as well. That's because with a fiat system, it's just monopoly money and you can s ...[text shortened]... would you like your own bank account or a machine to make money for you? The choice is obvious.

It is a strange idea to tie your nation's level of economic activity to how much of an essentially useless metal can be pulled out of the ground.

Originally posted by whodey
Well that is just it, Progressives have driven up the debt to such a place that it is no longer manageable.

Once the system destroys itself perhaps going back to the gold standard would be nice, but they won't. They will just adopt some other fiat system that will go bust as well. That's because with a fiat system, it's just monopoly money and you can s ...[text shortened]... would you like your own bank account or a machine to make money for you? The choice is obvious.

Please explain how gold, with an imaginary value, is better than fiat money with an imaginary value.

Originally posted by KazetNagorra
Please explain how gold, with an imaginary value, is better than fiat money with an imaginary value.

Yeah, at least you can wipe your azz with fiat money.



GRANNY.

Originally posted by no1marauder
It is a strange idea to tie your nation's level of economic activity to how much of an essentially useless metal can be pulled out of the ground.

But it is a perfectly sound idea to base your money on nothing and just print it out your arse.

Originally posted by whodey
But it is a perfectly sound idea to base your money on nothing and just print it out your arse.

It's a perfectly sound idea to try to tie the amount of your money to your economic activity rather than artificially limiting it based on something as irrelevant as how much of a shiny metal is available.