What has the Federal Reserve Act done to the USD?

Posted by freedomforall 10 years ago to Government
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Without the disaster of the Great Depression to impede its losses, the degrading effect is unbroken.

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  • Posted by Robbie53024 10 years ago in reply to this comment.
    You really think that O dances to anyones tune but his own? A tune written by Alinsky, Ayers, Cloward, and Priven.
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  • Posted by squareone 10 years ago
    The Fed was formed in 1913, the same year that the 16th Amendment was "passed." What a coincidence (?).
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  • Posted by Zenphamy 10 years ago
    How many notice the direct change correlated to the major wars from 1800 - 1940, then the exponential growth from the severing of gold in 1972?
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  • Posted by freedomforall 10 years ago in reply to this comment.
    Yes, the banksters are the puppeteers and Obama, et al, dance as directed. The banking cartel also includes the vampire squid(s) on Wall St.
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  • Posted by Robbie53024 10 years ago in reply to this comment.
    Do you really think that Bernanke and now Yellen aren't doing exactly what their masters in DC want them to do? The Fed is as much a political institution as any.
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  • Posted by Robbie53024 10 years ago
    All fiat currencies will eventually fall, it is a logical consequence of politics. Only a money that is immune to political manipulation is a money that will retain value over time.
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  • Posted by straightlinelogic 10 years ago
    When the Federal Reserve Act was passed, the Fed's two jobs were to preserve the value of the dollar and to supply an "elastic" currency for financial exigencies. They've done a good job on the former; a dollar today buys about what two cents did back then. Elastic currencies cannot be freely convertible ones, too many people will trade worthless paper for gold or silver. You can't make an honest woman out of fiat currencies; they all fail. For an interesting take on central banking from the vantage point of a historical novel, see my book The Golden Pinnacle. Many in the Gulch have read and enjoyed it.

    http://www.amazon.com/The-Golden-Pinnacl...

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