0 votes

Need expert collaboration to spoonfeed Joe Sixpack on Fed

Without a lot of conceptual and marketing work, the federal reserve is way too complicated an issue for Joe Sixpack to digest. We need to spoonfeed the American people. IMHO, we need a coalition of Austrian economists, the best and the brightest of activists (such as uber meetup organizers), and libertarian PR/marketing/advertising geniuses to get together and figure out ways to explain the Fed in ways that are both easy to understand and emotionally compelling.

It was fun to attend and volunteer at the Philly End the Fed Rally, but I think that outreach needs to change in order to have much impact on the public. Fliers were written in a way that are likely to attract a small segment of conspiracy-oriented readers. IMHO, fliers and other outreach efforts should be crafted to show Joe Sixpack, in clear and compelling ways, the concrete destructive impact that the Fed has on the economy, and by extension on Joe's kitchen-table issues. In order to pull this off, I think that uber-activists must collaborate with Austrian economists and PR/marketing/advertising geniuses. What do others think about this?



Trending on the Web

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.

Using simple metaphors works...

Most Sixpackers that I know are car freaks, so I try to explain inflation using automotive terms. Example: I explain that when the Fed lowers the interest rate, they do it by making more money out of thin air. "How is that bad or how does it effect me?" is usually the question.
A: Imagine that you have a 1970 Hemi Cuda, all original and in museum quality condition! A very rare car and worth a bundle!! Now, imagine if they made 6 million of them in 1970...no longer special or unique is it? There'd be 4 of them in every junkyard in America today! So, when the Fed makes more money out of thin air, that dollar in your pocket just got less and less unique and, worth less.
They ALWAYS understand that metaphor.

------------------
BC

------------------
BC
Silence isn't always golden....sometimes it's yellow.

"The liberties of a people never were, nor ever will be, secure, when the transactions of their rulers may be concealed from them." - Patrick Henry

Wow. Great metaphor

I guess you could say: what if the federal government stole the patents for the Hemi Cuda in 1970 and made 6 million of them. What would that car be worth now? and so on with the rest of your point...

I will definitely use that.

‘Each individual is separated from others by a "taboo of personal isolation"...this "narcissism of minor differences"'
--Sigmund Freud

There you go.

haha

Then you to have to say that therefore it would take more of them to trade for the other car you want.

-------
The Fed is not a private bank. PRIVATIZE THE FED!!!
"The Federal Reserve Banks should simply be regarded as governmental agencies." -Murray Rothbard
"I now call the Federal Reserve the fourth branch of government." -Ron Paul

Inflation

is nothing more than a physical manifestation of a false idea. The idea is you can get something for nothing.

Everybody knows you can't get something for nothing but we keep trying, over and over. The government used to trade things for tax dollars. That wasn't enough because they've got a lot more things than we do tax dollars so they've convinced us they can trade us things for debt. Sounds great but debt is not just a word, it is a thing.

People have become so desensitized to the term debt, they don't even consider it as something belonging to them. People actually believe the government has traded things for debt. We get the things and the government gets the debt.

Good luck convincing people you can't get something for nothing. Do that first then you can attempt to talk about where the "nothing" comes from.

Miamisburg, Montgomery County, Ohio

Fiat Empire and Griffin Lecture

I think these two presentations explain it very well to the layman:

Fiat Empire
http://video.google.com/videoplay?docid=5232639329002339531&...

G. Edward Griffin Lecture
http://video.google.com/videoplay?docid=-8484911570371055528...

Mike Lawson had a good idea about this

Late night infomercial on local cable network. I think he said time on those was fairly inexpensive. There are many good videos which could be played if a block of time was purchased.

Not that complicated.

About inflation, you just point out that if there is one widget in the in the world and it costs $1, and then you print another dollar without producing another widget then the price of the widget will rise to $2. Basic supply and demand. If you only have one of those dollars, and someone else got the other dollar, the value of the dollar your holding has been reduced by half. The value of money you're holding has been stolen from you by printing money. In the real world, the government and their cronies is who gets the newly printed dollars.

Then you point out the central planning problem. You show how a commodity such as bread is not produced in surplus or shortage, because the market takes care of it through supply and demand. The Federal Reserve is central control over the money supply instead of the market setting the money supply and interest rates. This creates an inefficient market. Just like the quantity of bread is regulated automatically by the market, the quantity of money would be self regulating. Just like we don't need a Federal Bread Reserve, we don't need the Federal Reserve. Central planning is not necessary and creates inefficiency, as we saw with low interest rates/large money supply allow the building of too many houses.

So get rid of the Fed and let the market take care of supplying money. If you allow gold-backed money to compete, consumers will most likely choose the sound money over the money with no backing that someone can inflate at will.

There's nothing more to it than that. I don't see why Joe Sixpack couldn't understand that.

-------
The Fed is not a private bank. PRIVATIZE THE FED!!!
"The Federal Reserve Banks should simply be regarded as governmental agencies." -Murray Rothbard
"I now call the Federal Reserve the fourth branch of government." -Ron Paul

Never underestimate the need for spoonfeeding in persuasion

I like the Federal Bread Reserve scenario, but the widget example does not seem self-evident for Joe Sixpack unless he is fairly well educated and/or enjoys thought experiments. Joe might not understand why the price rises just because you double money supply. After all, he might think that you could buy food, firewood, or loin cloth with the additional dollar. When you reiterate that this is a thought experiment, and that you want Joe to pretend that there is *nothing* else in the entire world that he could possibly buy except this one single widget, Joe might lose interest in this abstract notion, or he might go along with the experiment.

When it comes to persuasion, I would never underestimate the need for spoonfeeding to make it simple for people to understand. If you enlighten only the bright, open-minded and motivated, it might not be enough. Just my take. I might be wrong.

‘Each individual is separated from others by a "taboo of personal isolation"...this "narcissism of minor differences"'
--Sigmund Freud

This is very similar to what

This is very similar to what I say to people during quick meetings in line or something.

I've found that people are capable of understanding it but most don't want to. The mass of people has become so deluded that they are going to need tough times to see the value in understanding and working towards solutions. They are going to need to hear their child wimper as his stomach growls. They are going to need to see their wife splattered across what was once their kitchen. Then they may see the value in understanding but until then, God help us all.
____________________________________________________
"Freedom suppressed and again regained bites with keener fangs than freedom never endangered." -- Cicero

"Freedom suppressed and again regained bites with keener fangs than freedom never endangered." -- Cicero