The Creation of the Federal Reserve System (Part 5)

It's only a temporary solution. Government intervention doesn't create wealth, it shifts it. Ensuring full employment of resources now gets done now at the expense of employment of resources in the future. This is the reason government always inefficiently allocates resources compared to the free market.

 

In my opinion, promoting the general welfare could render necessary, such needful buildings which may better exploit natural public sector monopolies and harness them as public sector sector means of production which also may require labor. Hoover Dam and the Fed are two examples.

 

I'm sorry to go off-topic for a second here, but what's going on with the 'Part 5' thing?
I haven't been on these forums for a few years and found it a bit difficult to follow what's being said. :/

On that note, I saw this post at the beginning of 'Part 1' and figured I might as well drop 2 cents into the conversation without necessarily reading through the the entire thing.

I concur and I hope more people will wake up and realize that we've been swindled.

With that said, I'm not sure we'll be able to completely abolish this system in our lifetime because:
(a) The people running the bastard aren't going to let it go without a fight.
(b) It's really hard to convince people to get off the "hamster wheel" and/or accept that there is a wheel at all.

The point I'm trying to make here is that it's really up to us to create the alternative that we seek, with or without or regardless of the removal of the current systems and institutions.

 

I think you hit the nail on the head. We saw what happened when Andrew Jackson tried to ruin the Second Bank. Nicholas Biddle did everything in his power to sabotage the U.S. economy to make it look like Jackson's fault. It would be magnitudes worse today if somebody tried to get rid of the Fed. It just comes down to the people electing the right officials who will obey the Constitution.

 

The Second Bank was deemed necessary due to the War of 1812 when the general government needed to raise money for its war effort.

 

Sure. When you can't raise the taxes, just print some money to pay for it instead. Nobody will complain.

 

We have a republican form of Government and a respect for rights in private property. The Fed is a mostly, private sector bank.

 

The Fed is not a private sector bank. You made that up.

 

Why be so disingenuous for your Cause?

 

What is it then? How was it formed and who does it represent? They're PRIVATE. Not "federal" anything.