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Abolish the Income Tax: Steve Forbes and Peter Schiff
- Thread starter achilles28
- Start date
Quote from Kassz007:
So now your problem is with fractional reserve banking? Should we go back to buying our groceries with gold coins too?
The pitfall of fractional reserve banking is if the bank experiences a bank run. The Fed is able to stop this from happening. Therefore, the pitfall of fractional reserve banking is eliminated, and you are left with the benefits.
Again, if you were educated on how the fractional reserve banking system works and the benefits it provides, you would not be making the comments you are making.
You are not doing very well here, but keep trying, it's a slow day.
You figuring this out as you go along I see, repeating what I bring to your attention. I won't charge you for the lesson today.
Next time don't bring a knife to a gun fight...
Quote from FattBurger:
You figuring this out as you go along I see, repeating what I bring to your attention. I won't charge you for the lesson today.
Next time don't bring a knife to a gun fight...
Your inability to respond to my post proves your ignorance on the subject. Again, thanks the for entertainment at least.
Quote from FattBurger:
Did you learn this from you manual.
You've made two actual points this whole time:
1. Fed is bad because savers don't make a large enough return given low interest rates
2. Fractional reserve banking causes bank runs.
My manual tells me to stop responding to worthless comments on anonymous message boards, but sometimes I just can't help myself. Again, come back after high school when you've acquired more knowledge.
Quote from aegis:
It's difficult to argue with the tin-foil hat crowd. Most garner their information from a multitude of grainy YouTube clips of batshit wackos like Ron Paul.
But concerning the consumption tax, I find it odd that its right-leaning libertarian supporters fail to recognize the plan's implications in creating another government "entitlement" program. After all, if they abhor Social Security, Medicare, and welfare, why would they support monthly prebate disbursements to every family in America? Furthermore, a 23% inclusive sales tax is NOT revenue neutral and will NOT generate sufficient revenue for the feds.
Standard reply, tin foil hats. Do all you guys have the same manual?
Quote from Kassz007:
Your inability to respond to my post proves your ignorance on the subject. Again, thanks the for entertainment at least.
Kass you sink with every wiggle. Leveraging thru fractional reserve lending creates the boom and bust cycles. Remove the fractional reserve system and remove the fe that back stops to gamblers d and get back to slow steady growth.
But itâs a win win for the bankers, privatize the profits socialize the loss, god help us.
Quote from FattBurger:
Kass you sink with every wiggle. Leveraging thru fractional reserve lending creates the boom and bust cycles. Remove the fractional reserve system and remove the fe that back stops to gamblers d and get back to slow steady growth.
But itâs a win win for the bankers, privatize the profits socialize the loss, god help us.
Never am I more scared than when I see educated people defend completely corrupt system.
You can forgive uneducated poor people. But when guys like Kass spit propaganda I get very bearish long term.
Quote from Kassz007:
Your inability to respond to my post proves your ignorance on the subject. Again, thanks the for entertainment at least.
Kass, you sink with every wiggle. Leveraging thru fractional reserve lending creates the boom and bust cycles. Remove the fractional reserve system and remove the fed that back stops the gamblers and get back to slow steady growth.
But itâs a win win for the bankers, privatize the profits and socialize the loss, god help us.