Why we need the FED, just in case you want to know.

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Good afternoon all. This was front page on Yahoo and I thought we might check it out. Apparently this comes from the HowStuffWorks websight. This is why we need the fed. Anyone find any issues with this? Who wants to be first? :O)

p.s. You think they have a feeling people are catching on and need to start training people to love the FED? Just curious.

http://money.howstuffworks.com/fed1.htm

Why do we need the Fed?

Sometimes, in order to understand why you need something, it helps to find out what it was like before that "something" was created. Before the Federal Reserve was created in 1913, there were over 30,000 different currencies floating around in the United States. Currency could be issued by almost anyone -- even drug stores issued their own notes. There were many problems that stemmed from this, including the fact that some currencies were worth more than others. Some currencies were backed by silver or gold, and others by government bonds. There were even times when banks didn't have enough money to honor withdrawals by customers. Imagine going to the bank to withdraw money from your savings account and being told you couldn't because they didn't have your money! Before the Fed was created, banks were collapsing and the economy swung wildly from one extreme to the next. The faith Americans had in the banking system was not very strong. This is why the Fed was created.
The Fed's original job was to organize, standardize and stabilize the monetary system in the United States. It had to set up a method that could create "liquidity" in the money supply -- in other words, make sure banks could honor withdrawals for customers. It also needed to come up with a way to create an "elastic currency," meaning it had to control inflation by making sure prices didn't climb too quickly, and it needed a way of increasing or decreasing the country's supply of currency in order to prevent inflation and recession. In the next two sections, we'll discuss these inflation and recession.

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Any wonder that the author

is in marketing. Now she's just re"marketing" the FED to sheeple.

why we need the fed...

i submitted some feedback...

www.mises.org "money, banking and the federal reserve"
and
g edward griffin "the creature from jekyll island"

told her to watch and read...

Ron Paul is My President

In the past I was on

this BS propaganda woke up thanks to the Daily Paul, and Ron Paul.

Prepare & Share the Message of Freedom through Positive-Peaceful-Activism.

me

too. I truly believe Ron Paul is a messenger.

Send them feedback

I just did. Click on the author's name and scroll to the bottom for the "feedback" link.

"Endless money forms the sinews of war." - Cicero, www.freedomshift.blogspot.com

good

catch! I didn't see that there.

We need the fed...huh?

"sometimes banks could not honor withdrawals."

I guess if a bank can't honor a withdrawal they croak.

If I can't make a loan payment for my business the fu%$ing bank CROAKS me.They special or something?

In 1913 "there were lots of different currencies?" So?

Buyer beware. You walking around with a pocket full of "drug store" issued currency maybe you need to be bankrupt. Welcome to the free market.

In 1913 we were on our way to becoming the greatest country in the world, if we weren't already. With the fed we are on our way to becoming a low level employee of China, inc.

Thanks fed! You "stabilized" the shit out of everything didn't ya? Thank God you came along to save me from drug store currency.

In 1865 a $20 gold piece could by you a custom made men's suit in Manhattan. Closer to $3400 today. Thanks fed!

What freakin' nazi wrote this article anyway?

Unify

Reminds me Montgomery Burns' (from the Simpsons)

Anyone seen the episode where Burns outsources his power plant? In the beginning he makes his employees sit through an education video talking about the benefits of outsourcing.

Outsourcing = Americans don't have to work = more time to drink beer.

So that is why you should love the FED... they are really doing us a favor!

Money As Debt, Video

Money As Debt, Video (218,948 views!)
part 1 http://youtube.com/watch?v=cy-fD78zyvI
part 2 http://youtube.com/watch?v=hfXavRTM4Fg
part 3 http://youtube.com/watch?v=_yvRZoM-2r8
part 4 http://youtube.com/watch?v=f0p8LepIuVM
part 5 http://youtube.com/watch?v=PzXZ_Hs1g6U

Trust in God, but tie your camel tight.

"Socialism needs two legs on which to stand; a right and a left. While appearing to be in complete opposition to one another,they both march in the same direction." - Paul Proctor

we need food, water,

we need food, water, clothing and shelter. we do not in any way NEED the Federal Reserve. "they" need it "we" don't

No matter who you vote for, the government always gets in - Bill Hicks

Thanks $$$

Thanks to dis-information specialists................. employed by the.............. Federal Reserve ............. and the Federal government ..... the money is still controlled by the international bankers!! ................ check it out ...............
*****G Edward Griffith***** has spent many years studying the Federal Reserve and wrote the famous book ......"The Creature From Jekyll Island" .. and explains in detail the creation of the Federal Reserve Bank. http://herballure.com/MediaCenter/CreatureFromJekyllIsland.html ... Facts that the public need to know ....... http://www.youtube.com/watch?v=_dmPchuXIXQ&feature=related .... http://www.silverbearcafe.com/private/3.08/secondlook.html Hopefully the agents of dis-information and government spy's will learn the truth about the people employing them, and they will decide to quit their jobs and work for a free American government for themselves and their children.

Liberty is our campaigns gift to the world it is our manifest destiny.
Freedom is a movement who's time has come. Our campaign will lead world wide freedom.

I say it was good...

...that they didn't trust banks. I f-in hate banks. Why should I always have to store my money in a bank? Everything with a check. Gimme some cash and a gun. I'll be my own GD bank. That, or give me the option of storing my money where it won't be used as a basis for fraudulent usury, how about that? People don't have confidence in banks because bankers are crooked bastards, not because the crooked bastards weren't centralized and powerful enough. F the banks and F the Fed.

awwww

there isn't a comments section on that article so we could jointly be "all over" that author. We need the Fed cuz without them Bankers would be significantly less wealthy and Americans would miss the inflation tax.

Plus, why would this author state we need the Fed to control inflation? The Fed causes the inflation (after Government goes on an uncontrolled spending spree it can't pay for via direct taxation-that's why inflation is the "hidden tax")

Well said Susan

Poor widdle banks, no toys to play with.

We need to get the Jews to start inter-marrying with Africans and Husky Nordic Europeans.

Little Jewish and Asian Penises are ruining this world!!

Hahahaha -- I'm kidding, not all Mohels wear magnifying glasses!!

Octobox
Wisdom is the anticipation of consequences!

RIGHT ON SUSAN....the only

RIGHT ON SUSAN....the only cause of inflation are the inflationary policies of the Federal Reserve.

http://militantjeffersonian.com

"Men do not willingly read unpalatable truths of themselves. The People like those best who fool them most, by pandering to their vices and flattering their foibles" Raphael Semmes

Within 15 years of the

Within 15 years of the Federal Reserve being "formed" it presided over the largest destablization of the currency and economy this nation has witnessed. In fact, contrary to its purpose, there have been over 28 recessions and 3 depressions since its inception. It manipulates markets and currencies, inflates and therefore debases our currency and is generally worthless in any realistic sense of the word. Every single "boom and bust" are a direct result of FED policies, whether intentional or not, the results are the same. This Nation and its People have been reduced to a state of peonage, laboring to pay continual rents through taxation and inflation. It has basically created a Feudal Society by debased the purchase power of our currency to 0.04514672686 % of what a real dollar was worth in 1913 before the vultures began to smell the scent of death on this Nation due to its policies. It now takes over $22,000.00 to purchase what $1,000.00 purchased in 1913...where do you think all that wealth has gone to? It has been siphoned off the hard labor of the working men and women of this Nation into the grubby hands of political king makers!

It has not preformed a suitable purpose for its own existence except making a few people extremely wealthy through wealth redistribution. It's primary purpose is just that: to use fiat currency and income taxes to redistribute the wealth of this Nation into the select hands of a few powermongering thugs with an agenda that is far removed from the ideals and goals upon which this Nation was founded. It is an ABOMINATION, and those who have imposed its power on this Nation are TRAITORS!

...and that's my feelings on the subject!

http://militantjeffersonian.com

"Men do not willingly read unpalatable truths of themselves. The People like those best who fool them most, by pandering to their vices and flattering their foibles" Raphael Semmes

Standardizing money in the

Standardizing money in the US does not require a private banking cartel. The FED was -not- created to do what is described here. It was created because the bankers are greedy and they got their way. Period.

sounds like Dr. Strangelove

or: How I Learned to Stop Worrying and Love the Bomb, to me.

So, we need the Federal Reserve because we don't need competing currencies.

So, we need a monopolistic currency issued by the banks in order to promote price stability.

So, we can watch the purchasing power of this monopolistic currency dwindle by approximately 96% since the inception of the Federal Reserve.

Wow, I'm so glad that these guys are in charge and everything is okay. I better go out and trade my precious metals for some more of that monopolistic fiat currency everyone is raving about.

Please. Currency competition, by it's very nature, promotes stability. Although economic problems did occur before the inception of the Federal Reserve, it wasn't until after its creation that the United States saw the nationwide boom/bust cycles that occurred with the great depression, the post WWII era, the 70's, and now. Strangely enough, after the creation of the Federal Reserve, we also became allies with our historic enemies the British, and engaged in two World Wars that killed millions.

The United States, by adopting the Federal Reserve has basically put all of its eggs in one basket, and now that basket has been dropped over a cliff. There is going to be hell to pay, for all of us, once that basket hits bottom.

--------------------------------
"the only thing that keeps the banking system from failing is general ignorance about how the banking system works."
----------------------------

This is exactly the BS they

This is exactly the BS they used to sell the fed to the American people at its inception. America was relatively prosperous till that time. Yes there were bank closings and swings before that but it didn't crash the economy it was the free market weeding out the poor business practices and shysters and only effected small areas of the market where these institutions operated.

Just 16 years after the creation of the fed the US experienced the worst national crash and succeeding depression in it's history due to their policies. So much for stabilizing things

-----
Is life so dear, or peace so sweet, as to be purchased at the price of chains and slavery? Forbid it, Almighty God! I know not what course others may take; but as for me, give me liberty, or give me death. Patrick Henry

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End The Fat
70 pounds lost and counting! Get in shape for the revolution!

Get Prepared!

My first question is this:

My first question is this: If creation of the fed was such a good and noble cause, why was it established by such a few well-known names over a Christmas break and in such a fashion as to eliminate any discussion, debate, etc? Seems to me, that when something is the epitome of what is right, it is done openly and through the proper, established Constitutional process.......

**the soul would have no rainbow if the eyes had no tears**

Seems to me

that people will read this and say, "Well then, it has not worked." It takes two weeks at least to get your money out of Chase; and people are going to banks and being told they can only withdraw a limited amount; we have runaway inflation, recession, depression." So this article seems like it would be choking its own neck.

Yay!

So set up a hugely powerful, unaccountable banking cartel!!

That's the answer!!

That way we can pump, pump, pump and debase away all the bad government spending that we did in the past!!

And banks get bail outs too, it's great!!

Weeeeeeeeeeeeeeeeeeee!!!!!!!

(IDIOTS)

_________________________________

Freedom - Peace - Prosperity

Economic history

Fortune Favors the Bold

for retards and small children

Fortune Favors the Bold

LOL

That's to funny..

Now that's simply wrong.

Why would you intentionally mislead the young & innocent children or the mentally handicapped?

:-p

Yeah...you'd have to be pretty slow to buy what they're pushing in that article.