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Controversial Social Issues Discussions concerning controversial social issues. Topics include politics, religion, culture, social and economic issues, etc. Respect required at all times.


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Old 03-17-2009, 06:15 AM
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Lightbulb banking institutions are more dangerous to our liberties than standing armies

I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.Thomas Jefferson, (Attributed)
3rd president of US (1743 - 1826)

With all the bailout money that`s going around, I thought the above made sense. Unless I`m missing the point, banks and their hire Government officials should be charged with treason...
 
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Old 03-17-2009, 06:21 AM
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The moment that a private bank printed the first American dollar, this battle had been lost.
 
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Old 03-20-2009, 10:04 AM
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And since the Federal Reserve is a very private bank this battle is not only lost but long over.
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Old 03-23-2009, 09:31 PM
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Can't cut it both ways.

In an economic system where there is no absolute value of the medium of exchange, or a fixed upon value between the parties within a transaction, then you need it to be either regulated by the government or some other organisation that the majority give the inherent power to control the medium of exchange.

Now, I've noticed that Americans seem to basically hate & distrust their government, thinking it's filled with incompetent, yet overwhelmingly evil people... so logically it stands that this power would be transferred to a non-government body. Well, this is the end result of it.

The options are to participate in a private closed sub-economy (i.e. The Barter Card system), haggle on everything that you can and exchange goods and services you can provide for those you want... or leave the country.
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Old 03-27-2009, 07:14 AM
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The founding fathers knew more about money then just about everyone in washington DC.

Thomas Jefferson also said you never spend money before you have it. Meaning - do not use credit.

The people of this great nation have tried to live far above their means for years. Just take a look at the price of an average house, it is far above what a average person can afford. The banks have helped drive up those prices by giving loans to a bloated market.

Banks are needed in an economy, but they should not have control over the money system like what the federal reserve does.
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Old 03-27-2009, 10:24 AM
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"The people of this great nation have tried to live far above their means for years."

Who made a mechanism to borrow easy money people don't have? It is absolutely not people fault and please to blame them!

As far as private banks, I will say this sector needs more controls and more regulations.

Free market without regulations is often followed with abuses (just look at the News).
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Old 03-28-2009, 05:49 AM
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Natural - Geithner admitted that lack of regulation was not the problem. The fundamental problem is the system as my favorite "kook" explains.

If you really want to get your blood boiling, take a plunge down the rabbit hole.
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Old 03-29-2009, 06:31 PM
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The value of US $ will be lost the moment private banks start printing them.
 
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Old 03-30-2009, 12:31 PM
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Quote:
Originally Posted by Bernard View Post
Natural - Geithner admitted that lack of regulation was not the problem. The fundamental problem is the system as my favorite "kook" explains.

If you really want to get your blood boiling, take a plunge down the rabbit hole.
Have you ever hear about Enron schema mecanism? Then you can have an idea how they manipulated the system without regulations. Where are the top traders from Enron? No ideas? Take a look at wall sreet.
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Old 03-30-2009, 02:29 PM
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Perhaps Enron was a result of regulations and a controlled (non-free) market
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Old 03-30-2009, 02:36 PM
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I think the worst part about this whole thing is that people think more regulation is needed, while avoiding one of the main culprits of the Enron fiasco and subprime mortgage fiasco. What is that you say? Not corporate greed .. but individual greed. The moment individual Americans rely on a set of laws to take care of things they need to handle on their own. It doesn't take a genius to figure out that your investments should be diversified. Yet, with Enron, people ignored that basic investment principle to make a buck. It also doesn't take a Harvard degree to know that sub prime mortgages are a risk. Yet, people did what they wanted to, with little to no research, so they could get the house with the bay window and the pool. Now they want to put the blame on solely the corporations or institutions that simply made it easy for them to participate in their own greed.

These same people now want the government, the same government that supposedly 'fixed' the Enron mess, the same government that created the sub prime mortgage, to fix a problem that lies squarely on the shoulders of each individual American. While people want to hold these corporations and institutions accountable for their part, where's the legislation that says these idiots should be held accountable for signing on the dotted line.

Or, maybe it's just me, but I like to think that I am responsible for my actions. Where's the cry for self-accountability?

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Old 03-30-2009, 03:38 PM
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Well, it is more complicated than what we think.

Free markets create monopolies,but monopolies don't mean free market, right?

So there are a bunch of big companies that have a monopoly in many different sectors, then when these big companies start to fail, they are too big to fail or go in bankruptcy.

It's not free market in my opinion.

Free market means no monopolies, no bail out, right?

I am wondering if this whole mess was not intentional.
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