Post by Sandy_C on Oct 7th, 2008 at 12:21pm
An excellent review of how we got started with the Federal Reserve System
It's long, and somewhat dry reading in places, but it gives a great overview of why and how we are where we are today.
START PRINTPAGEMultimedia File Viewing and Clickable Links are available for Registered Members only!! You need to
or 
END PRINTPAGE
Here's just a excerpt:
"Now, who do you think is responsible for all of the ups and downs in our economy over the last 85 years? Think about the depression of the late '20s and all through the '30s. The FED could have pumped lots of debt/money into the market to stimulate the economy and get the country back on track, but did they? No; in fact, they restricted the money supply quite severely. We all know the results that occurred from that action, don't we?
Why would the FED do this? During that period asset values and stocks were at rock bottom prices. Who do you think was buying everything at 10 cents on the dollar? I believe that it is referred to as consolidating the wealth. How many times have they already done this in the last 85 years?
Do you think they will do it again? "
If anyone can't get to the site, post here and I'll do a copy/paste of the full text.
Sandy
It's long, and somewhat dry reading in places, but it gives a great overview of why and how we are where we are today.
START PRINTPAGEMultimedia File Viewing and Clickable Links are available for Registered Members only!! You need to
or END PRINTPAGEHere's just a excerpt:
"Now, who do you think is responsible for all of the ups and downs in our economy over the last 85 years? Think about the depression of the late '20s and all through the '30s. The FED could have pumped lots of debt/money into the market to stimulate the economy and get the country back on track, but did they? No; in fact, they restricted the money supply quite severely. We all know the results that occurred from that action, don't we?
Why would the FED do this? During that period asset values and stocks were at rock bottom prices. Who do you think was buying everything at 10 cents on the dollar? I believe that it is referred to as consolidating the wealth. How many times have they already done this in the last 85 years?
Do you think they will do it again? "
If anyone can't get to the site, post here and I'll do a copy/paste of the full text.
Sandy