a quote from his new book.

"one only needs to reflect on the dramatic decline in the value of the dollar that has taken place since the Fed was established in 1913. The goods and services you could buy for $1.00 in 1913 will now cost nearly $21.00. Another way to look at this is from the perspective of the purchasing power of the dollar itself. It has fallen to less than $0.05 of its 1913 value. We might say that the government and its banking cartel have together stolen $0.95 of every dollar as they have pursued a relentlessly inflationary policy."
---and the graph to go along with it.
Attachments:

So, please tell us what what Ron Paul would offer as an alternative?

there is no need for an alternative. banks would operate like businesses. if they prosper they will do fine. if they make bad/unsafe risks they file for bankruptcy. your money would be protected by law bcuz of contract fraud.

If you end the fed, you fix the economy.


Mariner Eccles, why does there need to be an alternative.

Hello Dwight.

....

Doesn't this happen to all if not most currencies though? True someone cant buy much with $1, but think of all variety things you can buy in this country for $100 or less.

Not everyone has 100 dollars, but almost everyone has 1 dollar. What you needed to purchase for one dollar back before the FED was created, you now need 21 dollars. The FED creating money out of thin air, mixed with the fractional reserve system(a money multiplier, can turn 1,000 dollars into 10,000 dollars in a snap of the fingers) is fraud and are killing the american dollar, and soon it will not be worth shit. the FED was designed to control inflation and deflation, but when have they ever tried to deflate the economy, never. There goals on the surface is nothing but lies. They want to inflate the hell out of the money so the rich, heads get the most money possible.

Also a little known fact, the people who created the draft of the Federal reserve act. Were two Rockefellers, two Morgans, and one economist. Two Families during the time who were solely interested in making money for them-selfs, and created a system where the old america was gone, and a new america was born. created a system where non elected people would be equally as powerful as the supreme court, congress, and the president. B/cuz what is more powerful then money, nothing.

having 100 dollars in your pocket will be worth nothing in the ensuing years.

FurfaxTownie Wrote:
-------------------------------------------------------
> Doesn't this happen to all [...] currencies
> though?

yes.


"the wisdom of the wise will perish, the intelligence of the intelligent will vanish."

Czar Wrote:
-------------------------------------------------------
> there is no need for an alternative. banks would
> operate like businesses. if they prosper they will
> do fine. if they make bad/unsafe risks they file
> for bankruptcy. your money would be protected by
> law bcuz of contract fraud.
>
> If you end the fed, you fix the economy.
>
>
> Mariner Eccles, why does there need to be an
> alternative.

Because of the necessity to continue current Fed responsibilities.

http://www.federalreserve.gov/pf/pdf/pf_1.pdf

Contents
1
Overview of the Federal Reserve System
..........................
1
Background
.............................................................................
1
Structure of the System
.........................................................
3
Board of Governors
.................................................................
4
Federal Reserve Banks
............................................................
6
Federal Open Market Committee
...........................................
11
Member Banks
........................................................................
12
Advisory Committees
..............................................................
13
2
Monetary Policy and the Economy
.....................................
15
Goals of Monetary Policy
......................................................
15
How Monetary Policy Affects the Economy
......................
16
Limitations of Monetary Policy
............................................
19
Guides to Monetary Policy
....................................................
20
Monetary Aggregates
..............................................................
21
Interest Rates
..........................................................................
23
The Taylor Rule
......................................................................
23
Foreign Exchange Rates
..........................................................
24
Conclusion
...............................................................................
25
3
The Implementation of Monetary Policy
...........................
27
The Market for Federal Reserve Balances
...........................
27
Demand for Federal Reserve Balances
.....................................
30
Supply of Federal Reserve Balances
.........................................
32
Controlling the Federal Funds Rate
.....................................
35
Open Market Operations
.......................................................
36
Composition of the Federal Reserve’s Portfolio
.......................
37
The Conduct of Open Market Operations
..............................
37
A Typical Day in the Conduct of Open Market Operations
....
40
Securities Lending
...................................................................
41
Reserve Requirements
...........................................................
41
Recent History of Reserve Requirements
...............................
42
Contractual Clearing Balances
.............................................
44
The Discount Window
...........................................................
45
Types of Credit
........................................................................
46
Eligibility to Borrow
...............................................................
49
Discount Window Collateral
...................................................
49
v
The Federal Reserve System: Purposes and Functions
4
The Federal Reserve in the International Sphere
.............
51
International Linkages
...........................................................
51
Foreign Currency Operations
...............................................
53
Sterilization
.............................................................................
54
U.S. Foreign Currency Resources
...........................................
55
International Banking
............................................................
57
5
Supervision and Regulation
.................................................
59
Umbrella Supervision and Coordination
Supervision of International Operations
Supervision of U.S. Activities
Responsibilities of the Federal Banking Agencies
.............
60
Federal Financial Institutions Examination Council
.........
62
Supervisory Process
................................................................
62
Risk-Focused Supervision
.......................................................
63
Supervisory Rating System
......................................................
63
Financial Regulatory Reports
.................................................
63
Off-Site Monitoring
................................................................
64
Accounting Policy and Disclosure
...........................................
64
with Other Functional Regulators
.......................................
65
Anti-Money-Laundering Program
..........................................
65
Business Continuity
.................................................................
66
Other Supervisory Activities
...................................................
66
Enforcement
............................................................................
66
of U.S. Banking Organizations
............................................
67
of Foreign Banking Organizations
.......................................
68
Supervision of Transactions with Affiliates
..............................
69
Regulatory Functions
.............................................................
70
Acquisitions and Mergers
.........................................................
71
Other Changes in Bank Control
.............................................
72
Formation and Activities of Financial Holding Companies
......
73
Capital Adequacy Standards
.....................................................
73
Financial Disclosures by State Member Banks
.........................
74
Securities Credit
......................................................................
74
6
Consumer and Community Affairs
......................................
75
Consumer Protection
.............................................................
75
Writing and Interpreting Regulations
.....................................
75
Educating Consumers about Consumer Protection Laws
.........
76
Enforcing Consumer Protection Laws
.....................................
76
Consumer Complaint Program
...............................................
77
vi
Contents
Community Affairs
................................................................
77
Consumer Protection Laws
...................................................
78
7
The Federal Reserve in the U.S. Payments System
...........
83
Financial Services
...................................................................
84
Retail Services
.........................................................................
85
Wholesale Services
..................................................................
94
Fiscal Agency Services
...........................................................
97
International Services
.............................................................
99
Federal Reserve Intraday Credit Policy
...............................
99
Appendixes
A
Federal Reserve Regulations
...............................................
103
B
Glossary of Terms
................................................................
107
Index
..............................................................................................
129
vii

Moderate inflation is actually good for an economy and 100 times better then deflation. One example...inflation encourages consumption of today's demand today. WHo would buy anything if you felt the price would only go down next week...youd wait. Inflation is a debtors friend...borrow $100k today with a loan rate of 3% and an inflation rate of 3% and you are actually not paying any interest on the loan.

Registered Voter...a Big talking coward..big man on FFXU...little man in life.



Edited 1 time(s). Last edit at 10/12/2009 11:39AM by Vince(1).

15
Goals of Monetary Policy --- they had goals to keep a stable market, the creators stated once the FED was put in place it would be mathematically impossible for a market to collapse. That is fact

here are also some facts
Recessions of the 20th century as documented by the National Bureau of Economic Research include: 1918–1919, 1920–1921, 1923–1924, 1926–1927, 1929–1933, 1937–1938, 1945, 1948–1949, 1953–1954, 1957–1958, 1960–1961, 1969–1970, 1973–1975, 1980, 1981–1982, 1990–1991, 2001, and 2007, which is the current panic of which there is no end in sight.

Some mathematical impossibility!



But anyways, so you state it seems that the FED has way to large of a job/responsibility to just outright end the fed. Okay, why not audit the FED? Find out every single thing that goes on within all 107 of those listed components. The FED has a secrecy to itself, and honestly will not disclose most of the information it holds.

Audit the FED, which will then open your eyes to the point where you will agree to End the FED.


i rest my case. until next time.

Is Czar Reggie's developmentally disabled progeny?

Uncanny, huh?

______________________________________________
I have had to change the addresses to my retaliatory blogs over half a dozen times.

whats that? i do not acknowledge ignorance. Just bcuz ron paul leans right does not mean that is what i believe in, or link me to RV.

He just makes sense, and its sad he is not the president. Luckily he has a son who is making a name for himself in politics.

fool........

Why is it nobody ever posts a chart of what the dollar's value looked like BEFORE the Fed was created? I would love to see what it looked like during the bank runs and depressions of the 1800s.

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http://bible.cc/1_corinthians/13-11.htm