Thursday, February 12, 2009
Rant Fest: Why The Federal Reserve Can Eat My
I have trouble concieving how a national bank is in any way beneficial to our society. Something few people realize is that because of this bank, money is debt, and debt is money. Let me first explain that the last time our country had no debt was in the Andrew Jackson presidency in early 19th century. Yes. That is a long time ago. 2 centurys since we had no debt, but why didnt we have any. Because Jackson destroyed the federal bank. So after his presidency, and the banks reinstatement, we began to slowly aquire debt until this very second you are reading this. Why do we have debt. Because the Government says they want x ammount of bonds from the reserve and then the reserve prints this money out at 10 times the actual rate. Which means that if the US got bonds for 1 million dollars, technically this just created 10 million. So we have 9 million more dollars in circulation. This sounds great doesnt it, YAY WE HAVE MORE MONEY!!! No, you dont have more money. Why? Its a little thing called interest. Lets go back in history one more time. The continental, the first us currency during the revolutionary war, we printed the shit out of it until it was literally worth more as tinder than money. The interest rates soared causing the VALUE of the continental to plummet. So what has changed between then and today. NOTHING. That is why you see the Euro soaring over the Dollar. Its because these boneheads think they can just throw more money at the problem. The value of the dollar goes down, the price of living goes up. And the real killer is that without any of this debt that we have, we would have no money in circulation. Thats right, debt is literally money, and money is literally debt. I hope this realization did not give you an aneurism.
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