Federal Reserve system

@whodey said
JFK wrote Executive Order 1110 to do away with the Fed but then he went to Dallas.............

That may have something to do with it.

Or it may be the fact that they have such powers over all of us, but are considered "private". Most of what they do is also secret.

Jefferson and company vehemently opposed a US bank as I'm sure you are aware.

What I do know is that ...[text shortened]... y about that sh? Think about it, the death of the Republic might be due to the creation of the Fed.

An Executive Order can't do away with an institution created by an act of Congress, nutty conspiracy theories to the contrary notwithstanding.

The need for a central bank was abundantly obvious by 1913 and, in fact, long before then. Economic growth and stability in the US has been much greater with it than there was before.

The Fed has zero to do with the national debt.

@whodey said
JFK wrote Executive Order 1110 to do away with the Fed but then he went to Dallas.............That may have something to do with it.

<sigh>

never mind

@sh76 said
While on the subject, could you please explain to me why the "don't tread on me" crowd has such a hard-on for the Federal Reserve?

What in particular is it about this fairly routine institution that has the super-libertarians' panties in a twist?

Do you guys just not believe the federal government should have the power to run a bank? The question was litigated back in 1819 ...[text shortened]... . Maryland), but something tells me this is more than just a constitutional law issue to you fellas.

Because they think it's a conspiracy for The Jews (or maybe The Jesuits) to control the finances of the USA from the top down.

@kquinn909 said
Guess you aint been to the grocery store in the last yr.

Look up the data if you must.

@sh76 said
<sigh>

never mind

From Wiki

Jim Marrs, in his book Crossfire, presented the theory that Kennedy was trying to rein in the power of the Federal Reserve, and that forces opposed to such action might have played at least some part in the assassination.[16][17][18] Marrs alleges that the issuance of Executive Order 11110 was an effort by Kennedy to transfer power from the Federal Reserve to the United States Department of the Treasury by replacing Federal Reserve Notes with silver certificates.[17] Actor and author Richard Belzer named the responsible parties in this theory as American "billionaires, power brokers, and bankers ... working in tandem with the CIA and other sympathetic agents of the government."[19]

Critics of the theory note that Kennedy called for and signed legislation phasing out Silver Certificates in favor of Federal Reserve Notes, thereby enhancing the power of the Federal Reserve; and that Executive Order 11110 was a technicality that only delegated existing presidential powers to the Secretary of the Treasury for administrative convenience during a period of transition

Of course, if you don't like conspiracy theories, just say Putin done it.

@no1marauder said
They have $2.3 billion worth of Treasury securities. https://www.federalreserve.gov/releases/h41/current/h41.htm

They didn't buy them all in one year but gradually over time. Sometimes they sell them to member banks; they've reduced their portfolio of US notes and bonds by almost $200 million since last November. Of course, they got money from the buyers by doing so.
...[text shortened]... the figures. That's $2.3 trillion in Treasury securities and sales of $200 billion since last year.

What the heck is wrong with you?
You still have not answered my question. You obviously do not know how the FRS works and therefore have no proper way to evaluate it.

@no1marauder said
An Executive Order can't do away with an institution created by an act of Congress, nutty conspiracy theories to the contrary notwithstanding.

The need for a central bank was abundantly obvious by 1913 and, in fact, long before then. Economic growth and stability in the US has been much greater with it than there was before.

The Fed has zero to do with the national debt.

"The need for a central bank was abundantly obvious by 1913 and, in fact, long before then. Economic growth and stability in the US has been much greater with it than there was before."

What is your source of information?

@kazetnagorra said
Look up the data if you must.

The data considers a container of yogurt reduced from 8 oz to 6 oz a 25% increase?

@metal-brain said
The data considers a container of yogurt reduced from 8 oz to 6 oz a 25% increase?

No, it would consider it a 33.3...% increase.

@kazetnagorra said
No, it would consider it a 33.3...% increase.

What is your source of information?

@metal-brain said
What is your source of information?

Learned about arithmetic in school.

If you want to know how inflation is computed, try this article:
https://en.wikipedia.org/wiki/Consumer_price_index

@kazetnagorra said
All libertarians are uneducated. You should not expect them to have rational objections to economic policy.

"Apparently -6,-6 is where you end up when you're an enlightened intellectual." - you, referring to yourself.

I confess to having been taken aback when I first read this. I must say, sir, I knew you to be a bit full of yourself having read that, but your true colours have surely been revealed now.

@ashiitaka said
"Apparently -6,-6 is where you end up when you're an enlightened intellectual." - you, referring to yourself.

I confess to having been taken aback when I first read this. I must say, sir, I knew you to be a bit full of yourself having read that, but your true colours have surely been revealed now.

A-ha! Have you pinpointed an educated libertarian?

@kazetnagorra said
A-ha! Have you pinpointed an educated libertarian?

Libertarians are nutty.

They whine about a $20 trillion dollar debt and free health care and free college, etc.

Don't they know that money grows on trees. After all, it's paper isn't it?

No, they just want to deprive us of all the good stuff.

Greedy uneducated bastards

@kazetnagorra said
Learned about arithmetic in school.

If you want to know how inflation is computed, try this article:
https://en.wikipedia.org/wiki/Consumer_price_index

Inflation doesn't account for weight reduction.

"Learned about arithmetic in school."

Nope.

8-6=2
25% reduction