Quote:
Originally Posted by Geo Oats
the switch to a floating currency from the gold standard, while a valid point, in reality had very little to do with central banking. one of the reasons why FDR devalued gold was because people started to horde it in the great depression, which made the economy completely halt (compounding the existing economic crises). our currency is hardly interfered with by the FED - only the Canadian dollar is more pure as a floating currency, and really that's a relatively new development because of our stimulus packages and quantitative easing in light of the recession. floating currency has proven to be far more productive for virtually every economy in the world, it's not a conspiracy lol.
I think you have a fundamentally incorrect understanding of the role of the FED, as well as how we came to our current state of inequality, which I'm in full agreement by the way inasmuch as how the cards are stacked in favor of people who are already rich. but that's more a result of policymaking and, what many economists believe, inherent pillars of capitalism.
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but the great depression was engineered by central bankers to put america in the position of needing the federal reserve...this isn't just some new conspiracy theory either, it's pretty well known that jp morgan was behind the economic collapse...
so yes, central banking came as part of the aftermath of the great depression, but the great depression was intentionally put into place by people who wanted to institute central banking...beyond that, if i want to spend my money an labor on collecting gold, that should be my choice...
i understand how the FED works...as i said above, they print a dollar...the government now owes them that dollar, plus an interest fee for the loan...to pay that back, u have to print more money...which puts u farther in the red...it's a perpetual cycle of debt designed to give bankers control of governments...
central banking was the main reason the pilgrims left england in the first place...our history books make it about religious freedom, but that's not really what was going on...the english government centralized all currency an the individual towns an villages an states, which had their own forms of currency, basically lost every bit of wealth they had, as their money was instantly deemed worthless...