They are the private monopoly comprising of 12 prominent banking families that control the issuance of the US dollar. They print it for about 0.5 cents for each $100 bill and loan it out for full value plus interest. Nice racket. Because each dollar that was ever created has a loan attached to it, it's impossible to have US dollars in circulation without debt. Think about it. Farmer Brown and Old McDonald -- two fine men who realized the virtue of staying out of debt -- would roll over in their graves.
The Federal Reserve is the system that created the wealthiest and most prosperous country on Earth.
Despite some minor glitches...nothing is perfect.
Now carry on with the moonbats who think we should all trade seashells and move back to our caves.
hno:The Federal Reserve is the system that created the wealthiest and most prosperous country on Earth.
Despite some minor glitches...nothing is perfect.
Now carry on with the moonbats who think we should all trade seashells and move back to our caves.
the ded is behind this whole financial crisis wake the fuck up
If you have a bellyache...do you cut your stomach out? :think2:
The Federal Reserve is the system that created the wealthiest and most prosperous country on Earth.
Despite some minor glitches...nothing is perfect.
Now carry on with the moonbats who think we should all trade seashells and move back to our caves.
:missingte
damn Joe, you've outdone yourself
and exactly why is that? :wink:
This is a serious question to those who follow RP.
If we abolished the fed,per Ron Paul and went back to a gold backed currency how would the 10-11 trillion in electronic debt get paid back?
Would we just stiff them?
Im actually in favor of a some kind of an asset backed currency but am failing to see a feasible way to do it.What I see as proposed plans to do it seem extremely unmanagable.
If we abolished the fed,per Ron Paul and went back to a gold backed currency how would the 10-11 trillion in electronic debt get paid back?
Would we just stiff them?
Im actually in favor of a some kind of an asset backed currency but am failing to see a feasible way to do it.What I see as proposed plans to do it seem extremely unmanagable.
A lot of that debt has a fixed maturity date, such as gov't bonds. They'd just have to wait until they all mature and then collect. No more new issuing of money in the meantime. Since the longest of those maturities is about 30 years, it would have to be a 30-year gradual phase-out, not an immediate "going out of business" type thing.
