Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: maceng2 who wrote (42998)	9/10/2002 6:54:11 AM
From: LindyBill	Read Replies (2) \| Respond to of 281500

Was this episode of the Federal's Reserve history in the best interest of the USA? The History of Money is one of my favorite subjects, Pearly. We went to the Federal Reserve System for several reasons. It was an attempt to stabilize Banking on the part of the Bankers, and an attempt by the Government to get control of the money supply. CB has spent a good bit of time on what happened in the '30s, and can give you more detail on that than I can. As you know, one of the reasons that the Brits hated Churchill was because he went along with putting Britain back on the gold standard in the '20s, thereby decreasing the money supply and causing misery for the lower classes. To over generalize, the Fed here went from too loose a money supply to too tight a money supply, and caused the depression to be deeper than it would have been otherwise. In fairness to the people involved, nobody then really understood money, and it is still a subject of heated debate today.

To: maceng2 who wrote (42998)	9/10/2002 7:51:05 AM
From: Ilaine	Read Replies (1) \| Respond to of 281500

No part of it is owned by the Federal government, yet it is not an ordinary private corporation either. I see you hedged this statement by saying that this is a problem that people perceive. It is, however, complete and utter horse exhaust. The Federal Reserve Banks are privately owned. The Board of Governors of the Federal Reserve is a federal agency. The Board of Governors run the Federal Reserve system according to the broad mandates of Congress. I can't think of any government institution that generates more hogwash on the Internet than the fed. Coincidentally, yesterday Dennis O'Bell linked some posts I did a while back. Thanks, Dennis. Message 17971509 I would suggest that before you say things like " fiat money is the root of all evil," you actually study the history of the gold standard, and gold backed money. You may be very surprised at how much governments and bankers manipulated the money supply even when it was backed by gold.