Why Do We Need A Central Bank? PBS

I think its time for a tax revolt.

I think i can sum it up well: The Fed is great for bankers and horrible for us working stiffs.

"I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a moneyed aristocracy that has set the government at defiance. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs." Thomas Jefferson

HEAR HEAR DAT? we need to fight tyranny wherever it exists !

"The money powers prey upon the nation in times of peace and conspire against it in times of adversity. It is more despotic than a monarchy, more insolent than autocracy, and more selfish than bureaucracy. It denounces as public enemies, all who question its methods or throw light upon its crimes. I have two great enemies, the Southern Army in front of me and the Bankers in the rear. Of the two, the one at my rear is my greatest foe.. corporations have been enthroned and an era of corruption in high places will follow, and the money powers of the country will endeavor to prolong its reign by working upon the prejudices of the people until the wealth is aggregated in the hands of a few, and the Republic is destroyed. Abraham Lincoln

It's the whole water hose, monkey and the banana scenario.

my jaw is still hanging that shanklinmike posted a PBS story. I've got to see this.

ahhh..

"One of the more interesting developments during the current recession is a small but growing drumbeat of criticism of the Federal Reserve System. No longer the exclusive province of the anti-Semitic, nationalist hard right,..." Ok, we're on the same page here...

He then goes on to make the standard case... It really does sound a lot less insane without all those exhortations about "freedom" "liberty" and "slavery" common for shanklinmike posts....

But wait! Here's the kicker at the bottom:
"Steven Horwitz is Charles A. Dana Professor of Economics at St. Lawrence University. His opinions do not necessarily reflect the views of Nightly Business Report. To learn more about Steven Horwitz, read his bio."

get that? "His opinions do not necessarily reflect the views of Nightly Business Report."
This is ust some guest they invited on for an interview or something. So where is the interview I wonder?

The Bio:
"STEVEN HORWITZ is Charles A. Dana Professor of Economics at St. Lawrence University in Canton, NY and an Affiliated Senior Scholar at the Mercatus Center in Arlington, VA. He is the author of two books, Microfoundations and Macroeconomics: An Austrian Perspective (Routledge, 2000) and Monetary Evolution, Free Banking, and Economic Order (Westview, 1992), and he has written extensively on Austrian economics, Hayekian political economy, monetary theory and history, and the economics and social theory of gender and the family. His work has been published in professional journals such as History of Political Economy, Southern Economic Journal, and The Cambridge Journal of Economics."

So basically he IS one of these hard right guys, and is only claiming that it is no longer merely the providence of wack jobs.

Now i definitely want to see that interview.

kill the fed!!!!

These things you speak of would not cost as much if there was no inflation on our currency....... Our ability to compete withother nations is based on the value of our dollar, not how many dollars we can print.....

Everyone comes down on the banking system, but without it we most likely would not have the great roads we have, or the awesome buildings in our great cities. We definitely would not be able to compete with other countries. We may even have a different outcome on the World Wars. If we could not have borrowed money to do these things the world you all live in would be vastly different, maybe so much so that you would be on the other side arguing FOR a central banking system.
Just like with taxes, everyone wants the new "complex center" but no one wants to pay up.

Americans are selfish, short sighted, and often resort to violence to solve problems. Those are the first signs of an under educated person.

I could be wrong, I am just an American too...

So the Obama commies can take over faster with our own money. Nice if your a commie.

i remember my history professor in my sophomore year at uni used to say something like "before money and private ownership, there was no such words as homeless, poor, or debt. I think you can see where I'm going with this..

Well its not very convenient to back every dollar with gold, so we stopped. We created a system of monopoly money....

cuz we need to get them all together . in a big room together with all their new paper money that we must have. and tell them CO)KSUCKERS that they are fired. all that funny money that they thought was so priceless is worthless. that DOW jones shell game you have been playing with yourselves is over. your money is only paper. no matter what it shows in you 7500 illegal bank accounts. your money is no good here. you have been bad and we are taking away your allowance.....

President Ford said that if people knew how the monitary system worked, there would be a revolution the next day.

"If the American people ever allow private banks to control the issue of currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their fathers conquered." Thomas Jefferson

Let us not forget the distrust our founding fathers had when it came to banks themselves......

"We must not let our rulers load us with perpetual debt. We must make our selection between economy and liberty or profusion and servitude. If we run into such debts as that we must be taxed in our meat in our drink, in our necessities and comforts, in our labors and in our amusements, for our callings and our creeds...our people.. must come to labor sixteen hours in the twenty-four, give earnings of fifteen of these to the government for their debts and daily expenses; and the sixteenth being insufficient to afford us bread, we must live.. We have not time to think, no means of calling the mis-managers to account, but be glad to obtain subsistence by hiring ourselves to rivet their chains on the necks of our fellow suffers. Our landholders, too...retaining indeed the title and stewardship of estates called theirs, but held really in trust for the treasury, must...be contented with penury, obscurity and exile.. private fortunes are destroyed by public as well as by private extravagance.

This is the tendency of all human governments. A departure from principle becomes a precedent for a second; that second for a third; and so on, till the bulk of society is reduced to mere automatons of misery, to have no sensibilities left but for sinning and suffering... And the fore horse of this frightful team is public debt. Taxation follows that, and in its train wretchedness and oppression." Thomas Jefferson