Quote from Avid_Consumer:
though there's a confluence of views on this particular point, the fact is i'm not a libertarian and i really don't know much about them. i'm just asking why you personally equate the lack of a fed with anarchy
lack of a Central Bank <=> anarcho-capitalism u mean? in pretty much the same way that lack of a common judiciary & set of laws across the land leads to / fosters anarchy, and anarchy thrives upon and only upon such a state of affairs...
def not. i'm perhaps a pathalogical wealth creator. i'm debt-free and saving, yet the risk-free rate at which i can lend cash doesn't cover the real decline in the purchasing power of my savings by a wide and growing margin. not surprisingly the fed and the congress go to extreme lengths to underreport this discrepancy
meanwhile, family, friends and neighbors who pursue conventional earning and saving paths are falling behind both their ability to create wealth and collect promised future benefits at an alarming clip.
the fed creates inflation. vast money gets created then spent, yet normal people only lose wealth in the process. explain the leak
same here, NEVER taken a loan, have always discouraged anybody (who doesn't fully understand the arbitrage, ie a lot of people...) around me to take any loans, whether CC loans or RE loans... if the thread were about that, perhaps u'd surprised...
in any case, who votes the Debt, Congress or the Fed?
http://www.bloomberg.com/apps/news?pid=10000103&sid=aV04.D.whRXc&refer=us
who originates the Debt, Gvt or the Fed?
who is pushing loan-type products in your face, the banks, FannieMae, FreddyMac... or the Fed?
who publishes CPI, PCE etc figures, Gvt or the Fed?
now as one of the means to detect any potential material discrepancies in macro-data, who sets the financial & regulatory reporting requirements the banks have to abide by, Gvt or the Fed?
who's obliged the banks to clean up the LTCM mess, their fucking mess, if not the Fed?
whatever the Fed does with Open Mkt ops and reserves requirement tightening, or flooding the mkt with liquidity post-Internet bubble burst, Enron and 9/11, is aimed at smoothing systemic shocks to the extent possible... namely to MINIMIZE both deflationary & inflationary shocks in the name of price stability... u may find that they are not good at it and its your right... you may also want to believe that they shldn't be attempting to do that and its also yr right... those things get debated ad nauseum by yr elected representatives, the 'thinkers', all the time... while those guys at the Fed, the 'Doers', just go about fulfilling their duties / mandate... providing the rest of us with a wealth of information about the state of the economy, thus leveling the playing field between anarcho-capitalist type large specs, and retail notably...
i hope you'll spare us any additional conspiracy theories...
NOW EXPLAIN TO ME WHY U SEEM TO PREFER TO SHOOT THE SHERIFF INSTEAD OF HELPING HOLD THE OBVIOUS RESPONSIBLE PARTIES TO ACCOUNT, IF U ARE NOT ONE OF THEM???
your cute
i have as much sympathy for them as i do for libertaustrians, and any form of integrism...