Why I Am Burning My Economics Degree

[mtzianos]

Hmmm, but the Federal Reserve isn't the "root of all evil" as this documentary seems to present them (I watched the first 15min).

To quote Hussman (an I fully agree):

"Remember that the Fed does nothing except determine whether government liabilities will be held by the public in the form of bonds or in the form of cash (currency and bank reserves). The actual quantity of those government liabilities is not under the Fed's control, but is controlled by Congress through its fiscal policies. If fiscal policy makers insist on creating a flood of government liabilities (as they currently are), the Fed's decisions will have extremely little importance or impact in avoiding the resulting inflation. The Fed's policies are important when there is a panic for liquidity, such as bank runs and financial crises, but unless bank liquidity is actually constrained (and it doesn't appear to be presently), the Fed's moves are largely irrelevant."

So if you're looking for someone to blame, start with US Congress first, then ofcourse Greenspan, whose overaccomodative Fed has allowed the blowing of all the asset bubbles.

 

[bsmeter]

The Fed dictates how you live your life by controlling lending and interest rates.

The Fed is privately owned by "member banks".

Who owns these "member banks"?

How about we start with the families that own the American Banknotes Corporation.

Good luck finding any information on the families who control the "member banks" and companies like the American Banknotes Corporation.

 

[romik]

Quote from Businessman:

[B...

'More people are about to lose more money than anytime in history'

LOL, instead we got the biggest bull market the world ever saw. [/B]

Well they say The Lord works in mysterious ways, he must be behind the stock market. It mainly pays off to remain market neutral and not have an opinion based on economic developments, which even if we understand technically, have little relevance to the majority trying to make it in the business of speculative financial trading. Secondly, I am also A BELIEVER that this market will have to land on its ass, it's a simple cyclical mode, which can not be prevented. The question is WHEN. And I don't think anyone can pinpoint this day, only be prepared for it, by remaining market neutral.

I do not hold a degree in economics, please ignore the above LOL.

 

[originalskunk]

Quote from bsmeter:

Good luck finding any information on the families who control the "member banks" and companies like the American Banknotes Corporation.

http://www.land.netonecom.net/tlp/ref/federal_reserve.shtml

This is the most exhaustive list I've seen. How many of the names do you recognize?

 

[bsmeter]

Quote from originalskunk:

http://www.land.netonecom.net/tlp/ref/federal_reserve.shtml

This is the most exhaustive list I've seen. How many of the names do you recognize?

Haha, good work kid.

Now watch your back.



The biggest owners of the Fed are decendent from the Board members of Brown Brothers Harriman & Co. Recognize any names in particular?



Brown Brothers Harriman & Co. is the oldest and largest partnership bank in the United States. It was created through the 1931 merger of Brown Bros. & Co., a merchant bank founded in Philadelphia, Pennsylvania in 1818 with Harriman Brothers & Company, established in New York City in 1927, and A. Harriman & Company. Its inital partners were:

Thatcher Brown
Prescott S. Bush
Louis Curtis
Moreau Delano
W. Averell Harriman
E. Roland Harriman
Robert A. Lovett
Ray Morris
Knight Woolley

 

[chameleontrader]

You can't be serious. The documentation is rubbish.

 

[chewbacca]

Quote from Businessman:



'More people are about to lose more money than anytime in history'

LOL, instead we got the biggest bull market the world ever saw.

Yes, that prediction was flat out stupid. But, the irony is that in the past 20 years, we may have seen the biggest bull market in history but we've also seen the biggest decline in living standards in this country's history. Even a college degree doesn't cut it anymore unless you have two of them (husband and wife) in the household - even then in NYC that won't cut it. Plus we've run up the greatest unpayble debt in history - now forever enslaved towards the debt and paying off interest on it.
The prediction of a depression may have turned out to be right if the fed didn't expand the money supply like crazy and reduce rates to 0. If they did that in the 20s, they wouldn't have had a depression either back then as the economy was far less overleveraged on cheap credit than today.

 

[Aok]

The Federal Reserve is the 3rd central bank that the United States has had.

What happened to the first two? Insolvent. Perhaps they've worked out the kinks?

As for your econ degree, dont burn it. It represents 4 years of, well, whatever it represents to you. I made a placemat out of mine.

 

[2cents]

yeah and these Fed guys, their responsible for everything that goes wrong thats not caused by the morons the american people have elected, they are!!! i hear they want to cause hyperdeflation or sthg like that... and if they can't they'll just let gold go thru the roof cause they don't care cause they got loads of gold in their coffers them selfish bastards

i don't have a degree in basic intelligence so don't take my word for it but buyer beware id ipso facto etc as they say...

 

[originalskunk]

"Let me issue and control a nation's money and I care not who writes the laws"
Amshall Rothschild