Debunking Federal Reserve conspiracy theories

[thekingsmen]

No, it's just I have very little patience when it comes to arguing with retards. It's a character flaw...please forgive me.

Maybe you need to take some classes on that.....




I already explained to you that JFK literally did the opposite of what you're claiming. He repealed the Silver Purchase Act of 1934, thus CEASING the power of the Treasury to issue silver certificates, and delegating that power to the President, which is what he did with E. O. 11110. He did E. O. 11110 to increase silver reserves in response to increasing demand. But he ended the Treasury's power to circulate silver certificates, said silver has no monetary function, and set out to reduce the silver supply and replace it with federal reserve notes, which he did.

You didn't explain anything..your source explained that it happened. Which is reality wasn't true...b/c years later Nixon defaults Gold which the dollar was backed by. It was at the Bretton Woods Agreement on International Monetary System Conference It was backed by gold, but made through the use of U.S. dollars notes - a solid currency then.

http://www.teamlaw.org/BWAgreements.pdf

Why would a President in 1970 destroy the value of the dollar's backed currency?


Who benefits more for Gold and Silver being defaulted?


I explained this all to you, then you just repeated the false claim that JFK allowed the Treasury to produce silver as currency when in reality, he did everything in his power to do the opposite.

Your source claims that...not you.



I can't make you smarter, so it would be more prudent to just ignore you.

 

[Dusty Bake Activate]

Your source claims that...not you.

No, reality claimed that. JFK repealed the Silver Purchase Act of 1934, effectively ending the Treasury's authority to buy silver and issue silver certificates. This is a fact. The Southeast Missourian - Google News Archive Search

He chose to phase out silver as a currency altogether. E.O. 11110 was just him authorizing the Treasury to issue an amount of silver certificates to make up for the increased demand during the transition period in which it was being phased out.

That's why are you embarrassing yourself. E.O. 11110 was part of a process of JFK literally doing the opposite of what you are claiming. He ended silver and replaced it with federal notes. These are his words...Economic Report of the President, January 1963

I again urge a revision in our silver policy to reflect the status of silver as a metal for which there is an expanding industrial demand. Except for its use in coins, silver serves no useful monetary function.

In 1961, at my direction, sales of silver were suspended by the Secretary of the Treasury. As further steps, I recommend repeal of those Acts that oblige the Treasury to support the price of silver; and repeal of the special 50-percent tax on transfers of interest in silver and authorization for the Federal Reserve System to issue notes in denominations of $1, so as to make possible the gradual withdrawal of silver certificates from circulation and the use of the silver thus released for coinage purposes. I urge the Congress to take prompt action on these recommended changes.

JFK luhh'ed the Fed.

 

[Type Username Here]

The Fed is audited...every year. It's just that not much info is offered up. And quite frankly, unless we have some type of independent body of economics experts akin to the CBO, I prefer it that way. Do you really want Allen West dabbling in monetary policy?

I didn't mean a financial audit.

 

[Sensitive Blake Griffin]

Didn't Lincoln use greenbacks to fund the civil war because he didn't want to get the money from a central bank charging outrageous interest rates, it wasn't specifically the fed back then but it was another central bank.

 

[thekingsmen]

No, reality claimed that. JFK repealed the Silver Purchase Act of 1934, effectively ending the Treasury's authority to buy silver and issue silver certificates. This is a fact. The Southeast Missourian - Google News Archive Search

He chose to phase out silver as a currency altogether. E.O. 11110 was just him authorizing the Treasury to issue an amount of silver certificates to make up for the increased demand during the transition period in which it was being phased out.

That's why are you embarrassing yourself. E.O. 11110 was part of a process of JFK literally doing the opposite of what you are claiming. He ended silver and replaced it with federal notes. These are his words...Economic Report of the President, January 1963



JFK luhh'ed the Fed.

Do you know when the E.O. was established and signed? June 4th 1963. 5 Months after this report that you placed up here.

 

[Sensitive Blake Griffin]

the point is, why can't our government control the money supply directly, why is a private company even necessary?

 

[thekingsmen]

the point is, why can't our government control the money supply directly, why is a private company even necessary?

VVD won't answer any questions.

 

[Dusty Bake Activate]

Do you know when the E.O. was established and signed? June 4th 1963. 5 Months after this report that you placed up here.

You have got to be the dumbest man on the internet right now. Did you read anything I said?

Kennedy effectively ended the Treasury's ability issue silver certificates of their own volition in 1961. E. O. 11110 was him authorizing them to issue an amount of silver in response to increased demand of silver because of low reserves, resulting from him putting the kabosh on the Treasury's power to issue silver certificates. It was done as a stopgap during the transition period. His overall strategy was to effectively end silver as a currency altogether. He said it straight up in his own words and he did it.

Kennedy threw silver in the bushes. This is not debatable. Silver Sale by Treasury Ended; President Seeks Support Repeal; KENNEDY CUTS OFF U.S. SILVER SALES

 

[thekingsmen]

You have got to be the dumbest man on the internet right now. Did you read anything I said?

Kennedy effectively ended the Treasury's ability issue silver certificates of their own volition in 1961. E. O. 11110 was him authorizing them to issue an amount of silver in response to increased demand of silver because of low reserves, resulting from him putting the kabosh on the Treasury's power to issue silver certificates. It was done as a stopgap during the transition period. His overall strategy was to effectively end silver as a currency altogether. He said it straight up in his own words and he did it.

Kennedy threw silver in the bushes. This is not debatable. Silver Sale by Treasury Ended; President Seeks Support Repeal; KENNEDY CUTS OFF U.S. SILVER SALES

1963 I am speaking of...you keep going on about 1961. You probably think a lone gun man killed Kennedy too right? Why would a man put an order like this in policy and be killed 5 months later for something else?

Also your source seems to also think Europeans don't own the FED...so why are we bailing them out again?

 

[KilluminaZi]

The Federal Reserve is a privately owned institution. That's enough for me to question it.

 

[Dusty Bake Activate]

the point is, why can't our government control the money supply directly, why is a private company even necessary?

The thread is about debunking myths and conspiracies surrounding the Fed, but I digress.

The Fed is not a private company, it's a system with private and public parts. The concept of a central banking system is a means to manage the money supply, control interest rates and inflation, and be a lender of last resort and maintain liquidity whenever financial panics happen so the economy can still function. I think if government bureaucrats in states agencies or parliamentary body were capable of handling those tasks, every industrialized nation in the world wouldn't have a central banking system. All these nations regardless of what type of economy they have, from Sweden to China, all have some form of a central banking system.

 

[Dusty Bake Activate]

1963 I am speaking of...you keep going on about 1961. You probably think a lone gun man killed Kennedy too right? Why would a man put an order like this in policy and be killed 5 months later for something else?

Also your source seems to also think Europeans don't own the FED...so why are we bailing them out again?

Goodbye.

 

[thekingsmen]

The Fed is not a private company, it's a system with private and public parts. The concept of a central banking system is a means to manage the money supply, control interest rates and inflation, and be a lender of last resort and maintain liquidity whenever financial panics happen so the economy can still function. I think if government bureaucrats in states agencies or parliamentary body were capable of handling those tasks, every industrialized nation in the world wouldn't have a central banking system. All these nations regardless of what type of economy they have, from Sweden to China, all have some form of a central banking system.

Public?

 

[Dusty Bake Activate]

The Federal Reserve is a privately owned institution. That's enough for me to question it.

It's not a privately-owned institution. It's a central banking system with public and private components to it. The Federal Open Market Committee, who sets monetary policy, consists of the Board of Governors, who are appointed by the President and confirmed by the Senate, and the regional bank chairmen.

Questioning it is good. Believing in baseless conspiracies is counter-productive.

 

[Sensitive Blake Griffin]

The thread is about debunking myths and conspiracies surrounding the Fed, but I digress.

The Fed is not a private company, it's a system with private and public parts. The concept of a central banking system is a means to manage the money supply, control interest rates and inflation, and be a lender of last resort and maintain liquidity whenever financial panics happen so the economy can still function. I think if government bureaucrats in states agencies or parliamentary body were capable of handling those tasks, every industrialized nation in the world wouldn't have a central banking system. All these nations regardless of what type of economy they have, from Sweden to China, all have some form of a central banking system.

but how come they don't have to divulge all of their transactions to the government? Could there ever be a situation where the fed reserve chairman disagrees with the gov in terms of what actions to take?

I'm not really up on this shyt so I'm just trying to learn.