< HOME  Saturday, December 31, 2005

Federal Reserve Video

"Thomas Jefferson and Andrew Jackson understood "The Monster". But to most Americans today, Federal Reserve is just a name on the dollar bill. They have no idea of what the central bank does to the economy, or to their own economic lives; of how and why it was founded and operates; or of the sound money and banking that could end the statism, inflation, and business cycles that the Fed generates.


Alan Greenspan is not, we're told, happy about this 42-minute blockbuster. Watch it, and you'll understand why. This is economics and history as they are meant to be: fascinating, informative, and motivating. This movie could change America."
Money, Banking and the Federal Reserve


At Saturday, December 31, 2005, Blogger qrswave said...

Hey, vper1!

Nice catch!

At Saturday, December 31, 2005, Blogger qrswave said...

The video is invaluable for its historical perspective. But, I do not endorse a return to the gold standard, as it is already controlled by a privileged few and would replace one form of monopoly with another.

And of course, I completely disavow interest which is nothing but a SCAM.

Mises' work on this video is commendable, but I remind readers that as far as free markets are concerned, Mises is libertarian in name only.

At Sunday, January 01, 2006, Blogger yusuf chun said...


i'm w/q here. (1) a return to the gold standard won't solve anything, especially not the question of "sound" money, as the story of the goldsmiths clearly shows. gold does not prevent fractional reserve banking. it is no guarantee of anything. you can always adjust parity the same may you mix gold minted coins with other alloys.
(2) the Lincoln greenback is probably (personally I'm certain of it) the soundest currency America has ever had. Legal tender guarenteed by Congress is all it takes. strips it of the entire "money is a commodity" issue too.
(3) we need to dissociate money and its material.

At Sunday, January 01, 2006, Blogger yusuf chun said...

"money as commodity" is the whole problem with the gold stadard to begin with. it being desirable in and of itself. no one works for a dollar, he works for what the dollar can buy him. can't eat dollars, can't eat gold. reminds me of the incas i think? who poured molten gold down the throats of conquistadors cause they were so hot for it.

there's a lesson there.

also, stripping gold of its value as a means of exchange lessens the power of those who have hoarded it. if they do turn over to the "geld standard" we can simply ask them to keep it. and they have no leverage.

At Sunday, January 01, 2006, Blogger yusuf chun said...

also, some say lincoln was assasinated by bankers precisely over the issue of the greenback. he dies and the bankers get back into power. i find it more than plausible.

At Sunday, January 01, 2006, Blogger yusuf chun said...

one last thing, the greenback was issued by the treasury interest free: we were not charged interest to use it. fed money is issued by the fed bying interest bearing bonds from the gov. they issue the amount boought, but the gov pays that + interest. that's where your tax dollars are going, to fed shareholders. that's how they make money. gov debt is your debt, your children's debt. you childrens' children's debt and so on ad infinitum.

and who's getting tax cuts on their profits? fed shareholders you think? isn't that just a little bit iniquitous?

bring back the greenback i say.

At Sunday, January 01, 2006, Anonymous Anonymous said...

gold can not be printed.

gold can not be made from a few keystrokes on a keyboard.

all fiat currency has gone to 0 worth.

the usa dollar has 5 more % to go.

fiat is junk and so are your post.

At Monday, January 02, 2006, Blogger qrswave said...

so tell us, anonymous, do you BUY, or do you SELL, GOLD?

Where is your interest?

At Monday, January 02, 2006, Blogger yusuf chun said...

hey anon,

two things. (1) the dollars in your pocket? they're fiat. only you pay a private corp. ie" the fed res for their creation and you're charged interest for their use. that dollar cost you a dollar and a half or more. (2) the US gov can print that same bill (whether 1 or 1000) at about .24 cents each. no carge no interest.

think, dog. think!

At Monday, January 02, 2006, Anonymous Anonymous said...

have you seen the money masters yet?


if it is already linked here i apologize.

At Monday, January 02, 2006, Anonymous Anonymous said...

of course i see that it is after i posted.

At Monday, January 02, 2006, Blogger qrswave said...

thanks, rayray!

The money masters is the best video I've seen so far on the monetary system.

At Tuesday, January 03, 2006, Blogger yusuf chun said...

Yo, rayjay!

thx for the link. awesome sight, brah. that intro clip with truth told, word.


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