Community | July 05, 2010 | 76 comments

Is America Really Free, If A Privately-Owned Central Bank Controls Our Currency And Runs Our Economy?

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ScottyT
I hope everyone had a happy and safe Fourth of July. Now, it's time to start asking the tough questions.

http://www.businessinsider.com/is-america-really-free-if-a-privately-owned-centr...
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76 comments // Is America Really Free, If A Privately-Owned Central Bank Controls Our Currency And Runs Our Economy?

  • calm_incense
    • 0
      calm_incense  
    • Funny. Americans hate their government, but they're upset their central bank isn't part of the government.

      If the Federal Reserve were part of the government, you morons would be complaining, "Do we really trust a bunch of POLITICIANS to control our currency and run our economy?"

      -_-

    • 1 year ago
  • 2hellnwait
  • ScottyT
  • ScottyT
  • keithponder
    • +1
      keithponder  
    • people don't want to believe it or they just don't get it.

      The Federal Reserve is a privately owned bank everybody. It's about as Federal as Federal Express is.

    • 1 year ago
  • BCDel89
    • +2
      BCDel89  
    • Please watch this video and find out for yourselves...

      The only way we can free ourselves from this circle of debt and corruption is for the public to educate themselves, its a fat chance i know but do your part and spread the truth.

      http://current.com/1tf164c

    • 1 year ago
  • irie_ojo
  • cclark_productions
  • iamaman
    • -2
      iamaman  
    • Image
    • cclark_productions:

      most of us in the US have the best standard of living in the world. even our low income folks get most of the hand me downs from the rich. all i here is a bunch of poor republicans that are pissed that they missed out on the gravy train! they were left out on purpose like a loyal wet dog. now they are so pissed they want to blame the system, not the people responsible.

      yet they still tow the republican party line........."bleed the beast" is all they can say. they are their own (and our countries) worst enemies. how many closeted gay republicans need to be outed so that we can all see they are hypocrites wanting to line their own pockets with their "free market theology"? you are right, freedom is not free!

      freedom results from bondage. OUR American revolution and civil war should have taught all of us that valuable lesson.

      we should always be grateful we are still fighting for our liberty, and always will be. the worst part of doing so is having to fight our own countrymen from weakening our unity and killing us all.

      "Marc Rotenberg, the executive director of the Electronic Privacy Information Center, believes that if the White House had gone to Congress after September 11th and asked for the necessary changes in FISA “it would have got them.” He told me, “The N.S.A. had a lot of latitude under FISA to get the data it needed. I think the White House purposefully ignored the law, because the President did not want to do the monitoring under FISA. There is a strong commitment inside the intelligence community to obey the law, and the community is getting dragged into the mud on this.”

      Read more: http://www.newyorker.com/archive/2006/05/29/060529ta_talk_hersh#ixzz0sw1Uc359

    • 1 year ago
  • mitekillem
  • Armageddon_Now
  • ReverandG
    • +2
      ReverandG  
    • November offers the best chance in the near term to do something to thorw a stick in the spokes of the federal machine. VOTE! Encourage your family and friends to Vote. Are any incumbents worth keeping, a few possibly, but the majority need to be sent hitting the bricks and the unemployment lines.
      Vote the encumbants out. A new senate and congress will have to learn as they go, but the old millionaires club has got to be disbanded.
      We the People....can do it.

    • 1 year ago
  • PirateSauce
  • telcod
    • -2
      telcod  
    • "Freedom's just a another word for nothing left to lose." And for all of those who voted for Obama, someone just pointed out you were a "cheap date." KInda like that. Now for those of you who voted for the PTSD guy and the cheerleader from hell, there ain't no power on earth or in the heavens that is gonna fix you all. So what do you do? You smartin up and take it back. "When in the course of Human events........." Gotta go now, I'm late for my Young Republican meeting and I gotta fill er up at BP. Later, I gotta tee time with my buddies from Enron.

    • 1 year ago
  • DefKid
  • stumpmaster
  • pmurph364
    • +2
      pmurph364  
    • Guess there's no reason to beat around the bush anymore . The Gulf being poisoned putting 30 million people at risk shows what corporate government looks like, see Italy 1943.

    • 1 year ago
  • pmurph364
    • 0
      pmurph364  
    • Americans freedom has been under attack for 90 years by their own Government. Toss out all incumbent and lock up those who voted to give the cash to their corporate friends. 700 billion the biggest heist by gangsta's in history. Until that is addressed we have lost America as it was. Take your Country back.

    • 1 year ago
  • ReverandG
  • PirateSauce
    • +6
      PirateSauce  
    • It's pretty mind boggling when you think about everything and how badly we are all getting fucked from so many different angles and positions. People are catching on pretty quickly..

    • 1 year ago
  • iamaman
  • shanklinmike
  • 2hellnwait
    • +1
      2hellnwait  
    • shanklinmike:

      We are being shepherded in the wrong direction by our current elected Representatives, all bought and paid for by special interests (which are not those of we the people) and are being sold a false security under the guise of benign govt altruism.

      George Washington:
      “Government is not reason; it is not eloquence. It is force. And force, like fire, is a dangerous servant and a fearful master.”

      Samuel Adams:
      “If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your counsel nor your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen.”

    • 1 year ago
  • iamaman
  • galwayman
    • 0
      galwayman  
    • 2hellnwait:

      it isn't just our current elected representatives it's everyone elected in the last 50 years who have sold this country out to the Elite wholesale! This Government does not serve the best interests of it's people,and we therefore have the right to replace it,and if necessary by the use of force! our Constitution gives us that right! Instead the people have become sheep led in whatever direction the power elite feels is best for them in the end,more power and more profit and almost everyone who is either in office or running for office is a shill for the Elite! We gave our Constitutional Rights away for false promises of "safety",The vast Majority of the population is brainwashed,and we can't beat the power elite! There are two choices left then to stay in the US and Die or worse[FEMA Camps don't forget},or get the hell out before it hits the fan! Doesn't matter the "right or Left' either or in my view,it is going to happen,corporatism is coming,and even if you run you'll only stall you're having to deal with it sooner or later it will find you! We lost the war without firing a shot people and America,and all it stands for is terminally ill and it is only a matter of time!

    • 1 year ago
  • calm_incense
    • 0
      calm_incense  
    • galwayman:

      It isn't just everyone elected in the last 50 years who have sold this country out to the Elite wholesale—it's the people who elected them! The People do not serve their own best interests, and we therefore have the right to replace them, and, if necessary, by the use of force!

      But seriously, Americans, stop blaming your problems on other people (your politicians).

      Have some fucking personal accountability.

    • 1 year ago
  • royulery
    • +2
      royulery  
    • what i've seen in my years in the bullion business would shock the average person. i know what money really is.
      my advice; is as always, buy trade ready items and learn how to negotiate. start your own business, one that services your community.

    • 1 year ago
  • ScottyT
    • +2
      ScottyT  
    • royulery:

      All it takes is for people to start bartering or using other methods of exchange. I know why the government does everything in its power to prevent this.

    • 1 year ago
  • calm_incense
  • iamaman
    • 0
      iamaman  
    • http://www.youtube.com/watch?v=p-Ru8C5zO0s&NR=1

      http://www.azlyrics.com/lyrics/cake/comforteagle.html

      "Comfort Eagle" by Cake

      We are building a religion
      We are building it bigger
      We are widening the corridors
      And adding more lanes

      We are building a religion
      A limited edition
      We are now accepting callers
      for these pendant key chains

      To resist it is useless
      It is useless to resist it
      His cigarette is burning
      But he never seems to ash

      He is grooming his poodle
      He is living comfort eagle
      You can meet at his location
      But you better come with cash

      Now his hat is on backwards
      He can show you his tattoos
      He is in the music business
      He is calling you "DUDE!"

      Now today is tomorrow
      And tomorrow today
      And yesterday is weaving in and out

      And the fluffy white lines
      That the airplane leaves behind
      Are drifting right in front
      of the waining of the moon

      He is handling the money
      He's serving the food
      He knows about your party
      He is calling you "DUDE!"

      Now do you believe
      In the one big sign
      The doublewide shine
      On the bootheels of your prime

      Doesn't matter if you're skinny
      Doesn't matter if you're fat
      You can dress up like a sultan
      In your onion head hat

      We are building a religion
      We are making a brand
      We're the only ones to turn to
      When your castles turn to sand

      Take a bite of this apple
      Mr. corporate events
      Take a walk through the jungle
      Of cardboard shanties and tents

      Some people drink Pepsi
      Some people drink Coke
      The wacky morning DJ
      Says democracy's a joke

      He says now do you believe
      In the one big song
      He's now accepting callers
      Who would like to sing along

      She says, do you believe
      In the one true edge
      By fastening your safety belts
      And stepping towards the ledge

      He is handling the money
      He is serving the food
      He is now accepting callers
      He is calling me "DUDE!"

      Now do you believe
      In the one big sign
      The doublewide shine
      On the bootheels of your prime

      There's no need to ask directions
      If you ever lose your mind
      We're behind you
      We're behind you
      And let us please remind you
      We can send a car to find you
      If you ever lose your way

      We are building a religion

      We are building it bigger

      We are building

      A religion

      A limited

      Edition

      We are now accepting callers...
      For these beautiful...
      Pendant key chains

    • 1 year ago
  • TomTucker
    • +2
      TomTucker  
    • I don't know the exact number, but I am willing to bet we have more laws in america then any other country in the galaxy

    • 1 year ago
  • ScottyT
  • daveinLA
  • 2hellnwait
    • +1
      2hellnwait  
    • daveinLA:

      No shit, and the plutocrat politicians are selling us out as fast as they can, America is openly being high-jacked, and too damn many people haven't a frakkin' clue.

    • 1 year ago
  • im1mjrpain
  • shanklinmike
  • Animal_Chin
    • +9
      Animal_Chin  
    • No. We not free. Even if the USA is still the most free country in the world, our freedoms have been slipping by the wayside. But don't tell anyone that. They don't want to hear it.

    • 1 year ago
  • randallr01
  • PressCore
  • gazinga
  • shanklinmike
  • Andrew_Douglas
  • PressCore
    • 0
      PressCore  
    • gazinga:

      Thanks. Were you aware that there's an uncanny parallel of facts which
      both assasinated presidents share ? Too many facts to be coincidental
      according to chance probability. Apparently the central banker backers
      in the USA wanted to pave the way for the Corporations long before the
      international Bankster cartel actualy did in Woodrow Wilson's time.

    • 1 year ago
  • Eddie_Miller
  • CalgarC
    • +3
      CalgarC  
    • you only as free as the things you do...

      if you follow the rules, you are not free...

      if you break or bend the rules and just live your life your way, you are free :D

    • 1 year ago
  • galwayman
    • +4
      galwayman  
    • We aren't free as the central bank is controlled by the elite! It's the elite who control the election process and all that comes with it! It is the Elite who have taken our Constitutional rights away with laws like The Patriot Act,The Homegrown Terrorist Act,The law that allows the shutting down of the Internet in the "event of a National Emergency", The FEMA camps,ECHELON,it is all directly tied to the elite,who can't further their Corporatist dictatorship until all our rights are gone,and they control every aspect of our lives!

    • 1 year ago
  • southrabbit
  • CalgarC
  • Mark701
    • +9
      Mark701  
    • Good topic, but the problem goes WAY beyond the central bank. America is a democracy in name only. In reality, we're a corporatocracy run by and for the benefit of big business. The "people" have a very limited say in the laws that are instituted. The debate over health insurance reform, the battle the Obama Administration is having with the GOP over common sense financial regulation are just two examples of the power of corporate America wields. That power ensures that financial white elephants like Wall Street, for profit health insurance and the fed are here to stay.

      Their strategy is straight forward and unsophisticated. Fund the congressmen that play ball and discredit any who refuse to. If you own a few key congressmen, you can rule the country, and they do.

      It's ironic that we spent trillions of dollars (also to corporate Americas benefit) to fight communism during the Cold War and to "ensure freedom" but refused to acknowledge the cancer that that was/is eating us from within, corporatism. With the recent SCOTUS decision by the 5 conservative members of the court allowing unlimited corporate funding of federal campaigns, the coup is complete.

      Still there is hope. The REAL power in this country, despite the trillions of dollars arrayed against it are the people. When the people become impoverished, as we inevitably must, there will be a revolution and corporate power will be broken. My guess is 25 years give or take. By that time the last bastion of American middle class wealth, social security, will have been privatized with promises of riches to future generations. Like health insurance, they will keep demanding we pay more to ensure corporate profits, CEO pay and investor payouts, while claiming they need the money to ensure the solvency of the system for future generations, who, in reality, they have no intent to pay anything to.

    • 1 year ago
  • ScottyT
  • kennymotown
  • shanklinmike
    • +2
      shanklinmike  
    • Mark701:

      Regulators are a joke, heck, the SEC backed up Bernie Madoff for 16 years...giving him the green light. Why is a failure of government proof for more coercive government?!? All it does is create moral hazard and it taints control towards the coercive corporatacracy that tries to pull us away from freer markets and civil liberties!

    • 1 year ago
  • Mark701
    • +7
      Mark701  
    • shanklinmike:

      With all due respect, our "failure" of government is the result of decades of corporate planning to strip government of it's ability to effectively regulate. They used a flawless strategy. First, buy the appropriate people in congress to do your bidding. Use them to undermine the laws that were instituted to ensure that the market didn't collapse (for example Glass-Steagall).

      Second, ensure the US government won't get in the way by installing a president (Bush) that lets them do what they want.

      Third, when when chaos erupts because regulations are not enforced or have been made ineffective, turn around and blame the GOVERNMENT of being too big and inefficient to do it's job, and claim that the "free-market" system could fix everything. Use the corporate MSM to blast your talking points into the brains of unthinking people, then use those same people (think Teabaggers) to support your point of view.

      This strategy has been played out thousands of times, and each time it chips away at governments ability to do it's job. In essence the "failure of government" is EXACTLY what large corporations have been working at for decades, and they've finally succeeded.

      Finally, the "free-market" can't save us because the free-market as envisioned by Adam Smith is a myth. It doesn't exist and never did. A truly free-market demands competition. But the mega corporations abhor competition. They either buy it out, merge, or destroy it. They will do everything in their power to avoid being forced to compete. (That's why the public option was such a threat to them, they would have been forced to compete). If someone is too big to buy out, they collude on pricing. This is the reality of our "free market" system. it's bullshit and it's eating us alive.

    • 1 year ago
  • MrMxyzptlk
  • ampersand
    • +1
      ampersand  
    • Mark701:

      I hope it doesn't take another generation to do that, but given the entrenched power of the corporatocracy, it is likely that it will.
      The only rights ones really has are the ones he can enforce.
      At this point most of America is unarmed economically, and isolated, socially and politically. Maybe this final cascade of crisis will bring things to a head.

    • 1 year ago
  • Mark701
    • +2
      Mark701  
    • Image
    • MrMxyzptlk:

      It's not a conscious conspiracy, corporations are too self centered for that. Rather, they know what works and they all utilize the same methods independent of each other. However, their collective actions have resulted in the mess we see today and I stand by my original comment.

      Also, it's very easy, if fact too easy, to blame everything on the American public. I agree that Americans, particularly in the last decade, have been very irresponsible. But the fact is they were encouraged to be that way by Wall Street and mortgage companies. That's the reason corporations spend billions every year for marketing--it works. Even though it's still each Americans responsibility not to purchase things they can't afford (for example a mortgage) it is the financial institutions job not to risk the investors and depositors money by offering things to people that can't afford them. It's called fiduciary responsibility and it's the first roadblock to preventing financial disaster. Unfortunately the big financial houses made money by buying and selling debt, so they they encouraged people to accumulate it. Why else do you think they sold sub prime mortgages and mailed credit card applications to anyone including the family pet? They didn't give a shit where the debt came from as long as there was debt. Since Bush kept the SEC on a leash and prevented the regulatory agencies from doing there job, there was no one to intercede on behalf of investors and middle class Americans. Anyway I'd love to keep writing about this but I'm tired and I'm going to bed.

    • 1 year ago
  • MrMxyzptlk
  • DefKid
  • TheEmpireGuy
    • 0
      TheEmpireGuy  
    • Mark701:

      No, no, no, no. You're looking at the small picture, my man. The government didn't fail, it did too much. More than it was supposed too and more than it should have. It IS NOT the governments job to put it's sticky fingers in OUR market and mess with OUR money We never gave the free-market a chance. Capitalism as it should have been never fully existed. Maybe in the early days of our country it did, but it wasn't too soon before we lost that and began our trudge towards corporatism. Sure, the big comapnies backed our government, but government policies backed them too! Not through force of the corporations, but by the will of the government and it's cronies at the Fed.
      Through inflationary practices of the Federal Reserve under a no-commodity, fiat money system, our economy was chained to the floor. Regulated and distorted over time, the value of our dollar dropped and prices went up. We took our boom-bust business cycle as inevitable and road the economic roller coaster that we were forced into. The Federal Reserve was founded to STOP panics and recessions and depressions we had perviously experienced, how they thought that would have worked, we may never know. But, the exact opposite occured, and just 16 years after its founding we had the worst depression in the hsitory of this country, but that top spot may be taken by the current diaster we are in now, should our policies continue.

    • 1 year ago
  • artemis6
  • Mark701
    • 0
      Mark701  
    • MrMxyzptlk:

      I prefer the word "conned". What made the con so insidious is that it was mass marketed and backed by Wall Street who blessed it with an air of legitimacy. How would expect people to react to that kind of assault?

    • 1 year ago
  • MrMxyzptlk
  • ampersand
    • 0
      ampersand  
    • MrMxyzptlk:

      Democracy as a form of government has always struggled with the paradox of equality and quality control. Jefferson argued that American democracy would only work if all citizens were sufficiently educated and fully informed.
      Reports on the level of knowledge and comprehension among US citizens make it pretty clear that neither is true today.
      It may never have been true in the degree that Jefferson envisioned and hoped for in our short and turbulent history. As we depend on democratic choice (to some degree) to govern and choose policy, we are, as a nation, doubtless damaged by that fact.

      Perhaps given growing state of economic inequality in the US and the world, and constant expansion of the human population, the ideal of democratic government may be as much of an idealistic fantasy as pure communism or Christian socialism.
      Given the success that China and other countries have had in preserving totalitarian rule by a party elite, no matter what the turbulent circumstances or outside pressures, it is very likely that could be the durable modern model of national government.

      I don't want to be governed by a rapacious power elite, or by the fears and blunders of a crowd of semi-literate and aggressively ignorant dimwits.
      For my part, I hope I'm lucky enough to preserve my individual brand of autarky, and wherever possible, be invisible and out of reach to the attentions of either group.

      Maybe, as some argue, the power of nation states, in the age of globalism and instant capital movement will diminish. I don't know if that will make things worse, but given mankind's history so far, I'd say that it will likely mean more destruction of the planet, more control of others, and more concentration of the goodies in the hands of the few.

    • 1 year ago
  • MrMxyzptlk
  • ampersand
    • 0
      ampersand  
    • MrMxyzptlk:

      Some monarchies have been benign, or in some rare cases, even heroic.
      But the problem of course, is hereditary power.
      What guarantees the next in line even in a very well-intentioned royal house with good and purposeful training for the heir, isn't a dullard, an oaf, or on their way to be a irresponsible or even dangerous twit? (Sort of like Bush II) It's hard to get rid of them if the position is hereditary.
      I expect you propose this all with some irony, and that's fine.
      In the final analysis it couldn't be that much worse than many of the examples we'd had in recent years.
      There are some places where a well-respected constitutional monarchy does do a unique and laudable service.
      Jordan and Thailand come to mind, although now there is a pending (and probably destabilizing) problem with the likely successor to the King Rama VI in Thailand.
      One of the heirs sisters is admired, well-liked, and is clearly quiet capable of the position, but the almost certain male heir, for good reason apparently, is not held in that same regard.

    • 1 year ago
  • thedirtman
    • +6
      thedirtman  
    • While I feel neutral over the original premise of the Federal Reserve System, I am very disappointed over the secrecy held within, especially with the present state of the economy. I feel that an audit is necessary.

    • 1 year ago
  • Lucretia_Gross
  • thedirtman
  • Buddha2112
    • +1
      Buddha2112  
    • Short answer: No, not at all. Our forefathers are rolling in their graves and shouting profanities at us for being the biggest pansies in the world.

      If only we could engineer our own monetary system without getting raided by the FBI. Many have tried, even by using gold to back it, and have only been shut down/raided/murdered.

    • 1 year ago
  • rodstradamus
  • ScottyT
  • PressCore
  • gazinga
    • +2
      gazinga  
    • rodstradamus:

      That was worth watching. A bit heavy on the connections to Baum, hey it is a great kids story, and the most upbeat of the series, but the history lesson was invaluable. Glad it was easy to follow and that they elaborated on the details. Really opened my mind to how things are being run now and why we are where we are. Wish CA had the guts to open a new State Bank that would lend with little to no interest to make our economy whole. I guess we could look at Nebraska for a tutorial. Sucks that the big banks that got bailed out by our taxes won't help out CA. Perhaps this is how some are trying to quiet the LeftCoast down a bit. Watch the movie.

    • 1 year ago
  • leotardjesus
  • ScottyT
  • royulery
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