Tapsearch Com EditorGreenspan from the trenches Part 2
December 18th 2007 18:26
Bizarre Politics Reports:
Greenspan does the talk while others to the walk
In his book, The Age of Turbulence, Alan Greenspan never tells us what, when, where, why, who etc about the background of the Federal Reserve Bank. There is no accounting for the Federal Reserve. In the age of the Free Market system, where competition is supposed to rule of game, we have a monopolistic master bank without any competition in control of our economic day. Greenspan ponticated from above as millions lost their jobs during the most massive dislocation of jobs in U.S. history.
Truly, the Federal Reserve Bank is not part of our goverment as the name applies, nor are there reserves to back up our money. The Federal Reserve is a super, master bank of banks all having exclusive control over our money supply acting as a shadow government run my an unelected official. They for the Free Market system but not part of it. Congress can abolish it but can not control the process.
Presidents come and go, and all seem to be afraid of counteracting the Federal Reserve. Today interest rates are the major tool the Federal Reserve uses to control economic events. We hear very little about the other things they do. If is a very fine-tuned system that has become very frail in controlling our economy - due to all the concentration put on this approach alone.
The public still stands in awe of this bank of banks and shies away from asking for an accounting of what it does. We have a statistical prosperity but hidden inside of it is a silent depression for many.
Who else can print on paper and call it money and then charge an interest rate on top of it?
How does this fit in the Free Enterprise system? Who makes money on the interest charged? How does a single digit interest rate evolved into one up to 34 percent on credit cards? Presently, the Federal Reserve pumped 20 billions dollars into the economy to back up the stock marker values. Where did the 20 billions dollars come from? Do they just print more paper money? If it was in some kind of reserves, where are these reserves held?
Wouldn't it be nice if more of us could duplicate this private corporate venture. I wonder what Adam Smith's conclusions would be about the Federal Reserve controlling economic events. The dollars in your pocket are not money. They are Federal Reserve notes of credit.
And the U.S. population has a negative personal savings balance. Looks like alot of interest can be enjoyed by just a few. Greenspan reportedly as said there were always avenues to express greed - the only difference today is that greed has many more ways to grow enormously.
Who else can do the same thing?
Someday a city, town, county or state will wake up and say - Why not? - Why can't we do the same thing. They can issue a bond based on the value of their local economy and let the citizens borrow from it and have a " City, Town, County or State Reserve Note" for transactions. Then they could use these notes to buy goods and services in their local areas. Meanwhile the city, town, county or state could charge a certain interest on the notes to regrow the fund. They could even borrow notes on the value of their goods and services. Some could barter their goods and services in trade. Contract workers could do the same. This is would be real trade too.
See: Taps instead of taxes - real tax reform
Continued on nex post:
Truly, the Federal Reserve Bank is not part of our goverment as the name applies, nor are there reserves to back up our money. The Federal Reserve is a super, master bank of banks all having exclusive control over our money supply acting as a shadow government run my an unelected official. They for the Free Market system but not part of it. Congress can abolish it but can not control the process.
Presidents come and go, and all seem to be afraid of counteracting the Federal Reserve. Today interest rates are the major tool the Federal Reserve uses to control economic events. We hear very little about the other things they do. If is a very fine-tuned system that has become very frail in controlling our economy - due to all the concentration put on this approach alone.
The public still stands in awe of this bank of banks and shies away from asking for an accounting of what it does. We have a statistical prosperity but hidden inside of it is a silent depression for many.
Who else can print on paper and call it money and then charge an interest rate on top of it?
How does this fit in the Free Enterprise system? Who makes money on the interest charged? How does a single digit interest rate evolved into one up to 34 percent on credit cards? Presently, the Federal Reserve pumped 20 billions dollars into the economy to back up the stock marker values. Where did the 20 billions dollars come from? Do they just print more paper money? If it was in some kind of reserves, where are these reserves held?
Wouldn't it be nice if more of us could duplicate this private corporate venture. I wonder what Adam Smith's conclusions would be about the Federal Reserve controlling economic events. The dollars in your pocket are not money. They are Federal Reserve notes of credit.
And the U.S. population has a negative personal savings balance. Looks like alot of interest can be enjoyed by just a few. Greenspan reportedly as said there were always avenues to express greed - the only difference today is that greed has many more ways to grow enormously.
Who else can do the same thing?
Someday a city, town, county or state will wake up and say - Why not? - Why can't we do the same thing. They can issue a bond based on the value of their local economy and let the citizens borrow from it and have a " City, Town, County or State Reserve Note" for transactions. Then they could use these notes to buy goods and services in their local areas. Meanwhile the city, town, county or state could charge a certain interest on the notes to regrow the fund. They could even borrow notes on the value of their goods and services. Some could barter their goods and services in trade. Contract workers could do the same. This is would be real trade too.
See: Taps instead of taxes - real tax reform
Continued on nex post:
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