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Bernanke rescues economy, gets carping from Congress

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  • Thu, Aug 06, 2009 - 04:49pm

    #41
    Peak Prosperity Admin

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    Re: Bernanke rescues economy, gets carping from Congress

A bit off topic but I thought some of you would like the "Choose Your Own Apocalypse" game.

http://www.slate.com/id/2223285/

  • Thu, Aug 06, 2009 - 06:35pm

    #42
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    Re: Bernanke rescues economy, gets carping from Congress

Some interesting discussion and I think most of us are agreeing that our current monetary system is a mathematical scam – a ponzi scheme.

One area that there has been much disagreement is what do we do about it?  Dogs has said, and I agree, the answers are not in Washington D.C.  And, Ready raises a good point – what if the Fed is audited – that will be the end of the dollar.

There is an alternative; states could start by immediately "becoming" bankers.  I’ve mentioned before that has been done in North Dakota and they are prospering.

There are a number of different ways of doing this.  The fastest, but not the best long term solution for our country, is for states to simply charter a bank and use fractional lending for the mutual benefit of all state residents.  State banks could run parallel to our current system and besides helping prosperity, the people would have a viable alternative to the private Fed and the Washington collapse.

I think it is becoming obvious that this "recovery" is a scam that only benefits the big banks.  They own Washington but we can work around them.  Once people figure out that the key to all monetary systems is simply who issues and controls the currency they will know exactly what to do with the private Fed.

Larry

  • Fri, Aug 07, 2009 - 12:33am

    #43
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    Re: Bernanke rescues economy, gets carping from Congress

Dear Ladies and Gentlemen

There are some assumptions in your arguments that I am having trouble with. For the sake of the argument lets assume the FED is audited. What then would happen:

1.

The main stream media would report the audit in such a manner that would allow the average American to understand the implications of the audit. Panic ensues.

or

The main stream media would report the audit in the manner they are presently reporting the news, in which case with some spin it would seem that there was a problem but that the audit has revealed the problem and fixed it. Creating the opposite of a panic.

2.

The auditor produces a full report that causes a panic and dollar collapse.

or

The auditor is not given full access to all the data and or has leverage applied to produce a report which does not reveal the depths of the problem. No collapse

or

The audit actually reveals that there are several large angel investors and the problems you assume that the fed are causing are actually being caused by some other party (EG Foreign Government, other large institution)

 

  • Fri, Aug 07, 2009 - 12:51am

    #44
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    Re: Bernanke rescues economy, gets carping from Congress

Hello Nigel –

Did you have a question buried in there somewhere or were you just illustrating the spectrum of possibility that we have been discussing?

For the record, I’m holding out for 1.a and 2.a (or 2.c. as long as there is an ensuing collapse)

  • Fri, Aug 07, 2009 - 01:57am

    #45
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    Re: Bernanke rescues economy, gets carping from Congress

Nigel,

If we were having this discussion in 2007, I would say there was little the Fed couldn’t spin. One might even go so far as to say it would have been a brilliant chess move to do an audit then, so now it would not be legislation on the floor.

In 2008, again, with the chaos, I think they could have gotten away with it. People like us on this blog would be mad as hell, but the majority would be oblivious.

Now,  I have a hard time believing that they can escape without a lynching of some sort, most likely not even starting in the US. If we are loosing jobs at the same rate headed into 2010, folks will be seeking out the truth as we have here. They will no longer listen to MSM BS, and this has been precisely my point all along. Every day that goes by, every layoff and forclousure brings us that much closer to critical mass…

If you can somehow convince me that my basic tennants in this debate are false, I’d love to hear it. I’m willing to change my mind as new data is presented. It seems that you have stated the obvious as to what the possibilities are but have withheld your beliefs as to the likelihood of each. Time to ante up.

  • Fri, Aug 07, 2009 - 02:01am

    #46
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    Re: Bernanke rescues economy, gets carping from Congress

Larry,

I am struggling with that one. I like the thought, but ultimately we need a US currency, not a state by state currency. Under the Constitution, states are not granted the rights to coin currency. I’m not so sure I want CA printing up money whenever they have a budget shortfall either. We might as well be 50 banana republics instead of 1 big one.

 

  • Fri, Aug 07, 2009 - 02:46am

    #47
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    Re: Bernanke rescues economy, gets carping from Congress

[quote=Ready]

Larry,

I am struggling with that one. I like the thought, but ultimately we need a US currency, not a state by state currency. Under the Constitution, states are not granted the rights to coin currency. I’m not so sure I want CA printing up money whenever they have a budget shortfall either. We might as well be 50 banana republics instead of 1 big one.

 [/quote]

What if each state issued it’s own currency — Texas would have the "Cojone", California the "Oscar", Nevada the "Chip", Chicago [Illinois] the "Bear" [naturally, a Bear’s "penny" unit would be a Cubby], Wisconsin the "Favre", Seattle [Washington] the "Bean", and so forth…I guess NY’s unit would be called the "Fuggeddaboudit!" [or "Fug" for short]…of course, the new hard currency in DC would be called the "RonPaul" [which would be worth 100 Bernankes]– and then you tied each unit to, say 1 oz of silver?  No printing allowed…

Viva — Sager

 

nb:  edited to add the "Bernanke"…

  • Fri, Aug 07, 2009 - 02:55am

    #48
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    Re: Bernanke rescues economy, gets carping from Congress

[quote=SagerXX]

 Texas would have the "Cojone"

[/quote]

As a Texan, I would have to say our "cojones" are made of brass, not silver, thats why they are so big! (It takes a lot of brass to equal 1oz of silver )

Too Funny Sager!

 

  • Fri, Aug 07, 2009 - 03:28am

    #49
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    Re: Bernanke rescues economy, gets carping from Congress

 

Ready said:

I am struggling with that one. I like the thought, but ultimately we need a US currency, not a state by state currency. Under the Constitution, states are not granted the rights to coin currency. I’m not so sure I want CA printing up money whenever they have a budget shortfall either. We might as well be 50 banana republics instead of 1 big one.

Hello Ready,

The state banks would issue U.S. currency.  The option is open now as it is already being done.  If other states start following along, it will go viral and that would be the end of the Fed – by popular demand.

There’s no point in auditing the Fed; their existence defies common sense and mathematical logic.  The have destroyed our economy.  It is an old scheme that’s been going on for hundreds of years, but relatively new in the U.S. (96 years).

Larry

 

  • Fri, Aug 07, 2009 - 06:44am

    #50
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    Re: Bernanke rescues economy, gets carping from Congress

[quote=SagerXX]

…of course, the new hard currency in DC would be called the "RonPaul" [which would be worth 100 Bernankes]– and then you tied each unit to, say 1 oz of silver?  No printing allowed…

[/quote]

Sager –

I would posit that any combination of Bernankes yields less as a sum than as an individual piece.  Kind of like when you combine two black holes I suppose?

And is Wisconsin the "Gouda"?

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