wistiaEmbed.bind("end", function () { This country got along quite well with out them, all they actually are are abunch of elitest, robber barons. Millions of Americans assume the Fed acts in the nation's best interest and that our nation has always had a Fed.. http://www.children.webmd.com/piaget-stages-of-development. Federal Reserve also known as Federal Reserve System, is the US central banking system that consist of 12 Federal Reserve banks (Meltzer 132). The Federal Reserve System was created by an act of Congress only in 1913. They have been leaching off of us more than long enough. We as is in the usa never did have a need for the socalled federal reserve. There is nothing 'Federal' about it. American's have never really understood monetary theory ( a.k.a. It controls the nation's money supply and policy and deals with banks and other financial institutions. Monday December 21, 2015. People hold onto their pet notions like a dog defends and knaws on his bone. Do We Really Need the Federal Reserve System? Information is only available from various limited sources here and there. We need to wake up and demand Congress kill the 1913 law that created the monster better known as the Federal Reserve System. Protected by copyright of the United States and international treaties. There are twelve in total, one for each of the twelve Federal Reserve Districts that were created by the Federal Reserve Act of 1913. "socialbar-v1": { This position makes it the most powerful actor in the global economy. There is an internet hoax that claims you can access secret accounts at the Federal Reserve, but this is a scam used to steal personal information. Federal Reserve Board announces results from second round of bank stress tests will be released Friday, December 18, at 4:30 p.m. EST Press Release - … Sometimes, in order to understand why you need something, it helps to find out what it was like before that "something" was created. The FEDERAL RESERVE BANK is not owned and controlled by the U.S. Government, ... we do … "politics") nor do they exhibit much interest in it to this day. Anotherwords, having more dollars does not mean anyone is particularly wealthy or "rich", unless of course, you happen to be a billionaire. } A century later, the banking system is so big its risks dwarf the Fed's liquidity capacity, and what cost a buck back then now will set you back $21. Or to contact Money Morning Customer Service, click here. wistiaEmbed.bind("play", gaFunc); All the greedy, lying, self-serving congressmen and women are in the pockets of the nation’s big banks. This is one reason why today's political environment has become so caustic. #3 The Federal Reserve Is A Perpetual Debt Machine The Federal Reserve system was designed to be a trap. If the FED fails, all the banks and financial institutions (and your money) connected with it will also dissappear. These banks get paid by law a 6% rate just for being a part of the FRS. The United States needs the Federal Reserve. The Federal Reserve board coordinates the activities of this banks that are … People who think we do not need the Federal Reserve simply do not know history. If the spouse is away, then kick the cat. Lawsuits alone may not be effective in dealing with or changing such hardened personal attitudes or individuals. When a bank does not meet its reserve requirements, it can borrow money from other banks on an overnight basis in … Is the problem the FED, or is it the big banksters who play fast and loose because they know they will be bailed out. “The Federal Reserve’s Response To the September 11 Attacks.” Federal Reserve Bank of St. Louis, Regional Economist, January 2002. In truth, the Federal Reserve System is so enormous and diffuse that there is only a minimal center of gravity. There is NO need for the Fed. } Its decisions affect the U.S. economy, and therefore the world. Check this out and then decide http://www.apfn.org/apfn/reserve.htm. Comment on This Story Click here to cancel reply. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. banks) with a relationship with our federal government that wa setup in 1930. Inflation would be a serious problem if the Federal Reserve didn’t know how to change the monetary policy accordingly. Join the conversation. If you believe Tamny and what he's … There is no reason this should exist anymore. You see, Congress created the U.S. Federal Reserve System to restore public confidence, provide the banking system a source of liquidity that would prevent its collapse and protect the public against inflation. However bad banks should be made to fail if bankrupt and the depoisitors covered up to the fdic insurance limits. Before the Federal Reserve was created in 1913, there were over 30,000 different currencies floating around in the United States. Our story begins in lower Manhattan during October 1907. Are These “Toxic” Stocks Lurking in Your Portfolio? The country needs the Federal Reserve like any one of us needs a gigantic tapeworm. Save my name, email, and website in this browser for the next time I comment. With this strategy, some think you don't need a Fed, because the quantity and value of the currency depend on the quantity of the commodity. Our founding fathers would have never approved of this system. Should we abolish the Federal Reserve?. The Federal Reserve System, often referred to as the Federal Reserve or simply "the Fed," is the central bank of the United States. We are going down hill like the Roman Government because peoples lack understanding of the real problems and possible solutions! Not to worry, one persons loss is another persons gain, and that's the way it's supposed to work. videoHeight: 321, We are for getting rid of the Federal Reserve. But most Americans don’t understand this. Anything in deposits above this shouldn't be covered, this should should be something all depositors understand. There are four components to the Federal Reserve System: the board of governors, the Federal Open Market Committee, the 12 regional Federal Reserve Banks and member banks holding stock in the regional Federal Reserve Banks. function gaFunc() { gold). We have a FED because our leaders have always been corrupt or the schrewd U.S. BANKERS are able to worm their way into the Congress or White House and buy-off the occupants in any era. Your email address will not be published. I could explain in great detail about all of the panics, recessions and depressions of the 19th century, but again, there is not enough space allowed here to describe everything in detail. Soros Plays Both Ends in Syria Refugee Chaos, Obama Administration Fights To Withhold Over 2,000 Photos Of Alleged US Torture and Abuse, Enough Already! It was created by the Congress to provide the nation with a safer, more flexible, and more stable monetary and financial system. And the big banks are only still here because the Fed bailed all their you-know-whats out in 2008. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors. Do We Need the Fed? 833 W. Plantation Drive • Clute, TX 77531. We’ve all heard of the Federal Reserve System but many of us don’t know much about it. British Economist John Maynard Keynes said "not one in a million people understand how inflation actually works". The depreciation of the U.S. dollar is 100% the fault of the Federal Reserve Bank. It’s Time To Send The Despicable House Of Saud To The Dustbin Of History. Federal Reserve Bank of New York, Economic Policy Review Executive Summary, November 2002. Just listen to Fitz-Gerald's answer in the following interview. They have been leaching off of us more than long enough. Accordingly, personal vandettas can easily develop in today's society and last for years and years. Do you want to start completely over at 55 years of age? Not a damn thing, that's what. The Federal Reserve is not a branch of the government, but rather a corporation with shareholders. Instead, the real cause of economic crisis is … Piaget's studies are remarkably relevent to a collective lack of financial common sense, both with the masses and the elite ( political leadership). Address: 1125 N Charles St. | Baltimore, MD, 21201 | USA | Phone: 888.384.8339 | Disclaimer | Sitemap | Privacy Policy | Whitelist Us | Do Not Sell My Info, By submitting your email address you will receive a free subscription to. wistiaEmbed.unbind("play", gaFunc); Money Morning gives you access to a team of ten market experts with more than 250 years of combined investing experience – for free. Great comment. Those opposed to … Many would become angry and probably take it out on whoever is available. Hoewel de naam Federal Reserve anders doet vermoeden is de bank geen eigendom van de … Required fields are marked *, Sign me up for the Money Morning newsletter. Reason Foundation scholar, and economics journalist, John Tamny has written a new book titled Who Needs the Fed? WOW. The Federal Reserve is the U.S. central bank. Come on America, you are way smarter than anyone you voted for! controlsVisibleOnLoad: true, Originally Answered: Why do we need the Federal Reserve? Lets get rid of the FRS!!! What is the alternative? The system is comprised of 12 regional reserve member banks, each of … It is not a company or a government agency. The Ron Paul Institute for Peace and Prosperity is a special project of the Foundation for Rational Economics and Education, a non-profit established by Ron Paul in 1976. Written by Ron Paul. It then presided over a great wartime inflation followed by a major depression in 1920–21. By Money Morning Staff Reports - May 28, 2013. wistiaEmbed = Wistia.embed("kui1u2pqlv", { If you attempt to hold an opposite opinion, they will either attack you personally, or otherwise attempt to discredit you by any and all means, especially the lame stuff which usually involves lying and making false statements. We as is in the usa never did have a need for the socalled federal reserve. The Federal Reserve requires that banks (and other financial institutions under its jurisdiction) hold a certain amount of capital in reserve. Most importantly, we wanted to know if the United States – or any country – even needs the Fed anymore. This is such a scam. videoWidth: 570, Parry, Robert T. (2001). volumeControl: true, This System Could Make Your Portfolio “Recession-Proof”, Special Report: 5 Stocks Primed for Triple-Digit Gains, New Report: How to Bank Daily Profits on 7 Core Stocks, 5 Things the Federal Reserve Hopes You'll Never Find Out, http://www.youtube.com/watch?v=iP9H5fADC0E. The Six Facts That We Need To Know About the Federal Reserve Elaine Schwartz December 31, 2018. Neely, Christopher J. © 2020 Money Morning All Rights Reserved. }); For more on the U.S. Federal Reserve System, check out 5 Things the Federal Reserve Hopes You'll Never Find Out. Federal Reserve Board announces annual indexing of reserve requirement exemption amount and of low reserve tranche for 2021 Press Release - 12/7/2020 . I don't know about the rest of its functions like interest rate setting or providing liquidity to smooth out the economy. Click here to jump to comments…. There has never been any possible good that came from the Fed. While the Federal Reserve is responsible for our boom-bust economy, recessions and depressions are not caused by tight monetary policy. The Federal Reserve Bank of New York is one of 12 regional Reserve Banks which, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. STRONG DIFFERENCES CREATE HARD FEELINGS AND GRUDGES. Actually, the late Mr. Keynes might be a tad charitable today. 0 0 3.8K views. You can see on Youtube until they take it down, it's amazing: http://www.youtube.com/watch?v=iP9H5fADC0E. Your email address will not be published. Just In: Top 5G Stock to Buy Could Double Your Money. What can the people do about it? But what exactly does the Federal Reserve do and how does it affect us? Widespread ignorance is what we largely have. The Greeks showed us what can happen when the masses have nothing left to lose and plenty of anger to go around. _gaq.push(['_trackEvent', 'Video','Play', 'SEO Video - Federal Reserve System']); That's why we asked Money Morning Chief Investment Strategist Keith Fitz-Gerald to explain how the Federal Reserve System actually helps a country's economy. The Fed, as the system is commonly called, is an independent governmental entity created by Congress in 1913 to serve as the central bank of the United States. I say, let a few big banks fail and then the rest will clean up their act. As it turns out, it really matters little at this point. The Federal Reserve is at best an ineffective body that attempts to create a stable atmosphere for United States wealth creation. Choose from the topics below to receive our money-making recommendations in real time. Anxious depositors could be seen camping overnight as they waited for the banks to open. The FRS is a commercial entity (i.e. version: "v1", The idea of the fed to backstop banks and prevent runs is a good idea. We like to think that if we crunch a bag of potatoe chips and have more chips, then we are better off, but don't realize the weight of the bag and its contents remains unchanged no matter how many potatoe chips we create. Copyright © 2015 by RonPaul Institute. The media mentions the Fed every now and then, especially after it’s had one of its meetings. It was established by Woodrow Wilson. }); buttons: "email-twitter-googlePlus-facebook" I think we should do away with the Federal Reserve bank. A Federal Reserve Bank is a regional bank of the Federal Reserve System, the central banking system of the United States. When there is too much money circulating in the economy and the supply of goods is not adequate enough to fulfill the needs or demand of the people, inflation occurs. The intent of the bankers was to trap the U.S. government in an endless debt spiral from which it could never possibly escape. Abolishing the Federal Reserve System might seem like a drastic idea, but not when you get the full story…. Currency could be issued by almost anyone -- even drug stores issued their own notes. If the FED were to collapse, then baby boomers would face a retirement in poverty. plugin: { It's a private bank owned by a private group of individuals. Also the money we print today in 2013 is useless and it is not backed by anything substantial (i.e. One retiree in my neighborhood asked: " The question is: Is the FED part of the FEDERAL government?" Harold, please, please research more about how the Fed came to be, and educate yourself on what it's actually used for. smallPlayButton: false, What is the alternative/solution? Ben Swann Reality Check takes a look at history and present activities of the Federal Reserve Bank and whether the Fed needs to be audited. It's a reason he calls for an even bigger reserve, one that might be able to insulate U.S. markets from the kinds of booms and busts we've seen in … Permission to reprint in whole or in part is gladly granted, provided full credit and a live link are given. These latter two functions are more wizard of oz than actual science. The Federal Reserve We Need It's the Fed we once had -- when a more democratically accountable bank was enlisted to patriotically finance America's … Failure is an integral part of capitalism. Contrary to the broadly held view that we need the Federal Reserve, logic says we'd be much better off absent a central bank that economist George Selgin terms "fundamentally destabilizing." (2002). At worst it is one of the greatest fraudulent and destructive forces ever created by the United States Federal Government. Let's get back to a free market society and end the Federal Reserve. The value of our monetary system is set arbitrarily. There is more money in our economy and world system than in 1930. We are in a new generation of time and circumstances. All they want to do is suck the economy in this country dry. _gaq.push(['_trackEvent', 'Video','Complete', 'SEO Video - Federal Reserve System']); Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. It has 'indebted' every country that it has invaded. Piaget comes in because many adults have undeveloped brains about such abstractions. We the people need to take our government back! A law was passed (with help from 'them') to prevent any books in English being printed to reveal the owners, and operations of the Fed. } I do see benefit in providing liquidity to banks if needed to prevent systemic problems. Het Federal Reserve System of de Federal Reserve (informeel ook wel The Fed) is de centrale bank van de Verenigde Staten van Amerika, vergelijkbaar met de Europese Centrale Bank in Frankfurt.De Bank wordt bestuurd door de Board of Governors die door de President van de Verenigde Staten wordt benoemd. The Federal Reserve is the central bank for the United States. If you will watch the Stock Market when the Director of the Federal Reserve comes before Congress and talks about the Prime Interest Rate the people that run Wall Street are paying close attention to what the Director has to say. Some people are opposed to the existence of the Federal Reserve, the central bank of the United States, arguing that it is unconstitutional. If the Bankers are in Paraguay out of harms way, then riot in the streets and burn down the bank towers. The Federal Reserve System in the U.S. conducts the nation's monetary policy and regulates its banking institutions. 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Rate setting or providing liquidity to smooth out the economy in this browser for the banks financial... Needed to prevent systemic problems about such abstractions that banks ( and Your money ) connected with it also! The idea of the government, but rather a corporation with shareholders then decide http: //www.youtube.com/watch v=iP9H5fADC0E. Wake up and demand Congress kill the 1913 law that created the monster known... Let a few big banks are only still here because the Fed bailed all you-know-whats... Global economy corporation with shareholders little at this point monetary theory ( a.k.a Federal Reserve Board announces indexing. Have nothing left to lose and plenty of anger to go around recommendations in real time it amazing... Of our monetary System is comprised of 12 regional Reserve member banks, each …... Think we should do away with the Federal Reserve why today 's political environment become... 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