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KevinSnowpaw

If you Know you know.

" “If the American people ever allow private banks to control the issue of their 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... I believe that banking institutions are more dangerous to our liberties than standing armies... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”
~ Thomas Jefferson


Im just gonna leave this here... No point talking or debating about it... if you know what He was talking about then you know my stance.


I sincerely hope we find a way back to reason.


Sorry for this vent post... might lock it... might delete it.
Viewed: 279 times
Added: 2 weeks, 2 days ago
 
FluffyOverclock
2 weeks, 2 days ago
I think I know exactly what you're talking about.

When you allow one person or one institution, like a bank, to have too much power, the result is loss of freedom. Where I live, people are afraid of speaking against the government in fear of having their passports taken away, their bank accounts frozen, or worse.

In other words, censorship.
KevinSnowpaw
2 weeks, 1 day ago
Thats very true, though im explicitly talking a about the evils of the federal reserve and the central banking system sitting at the heart of fiat currency XD your not wrong, when an institution has to much power we end up with a definite of freedom.
eeveefan
2 weeks, 2 days ago
private banks? theres such a thing? whats it mean to be a private bank?
MarcusKoopa
2 weeks, 2 days ago
A bank not owned/operated directly by the government of the country you are in. Typically a public bank is run at low profit or non-profit as it's less a business and more a monetary tool.
MaximilianUltimata
2 weeks, 2 days ago
Most of the banks in the US are private banks. There are only 137 public banks compared to the many thousands that exist, and most of the ones that do exist are insured and/or supervised by the FDIC. And FDIC qualifications are their own thing, but long story short, most banks you will ever deal with are insured by the FDIC, so if anything happens to them, your money (up to $250,000 per depositor) is safe.

Banks make their money through various means like investments, fees, mortgages, interest, etc, but they are supposed to be regulated and watched over to make sure they don't do something risky and end up collapsing (which is part of the whole FDIC-accreditation thing). When they aren't is when Bad Things™ start happening. We saw a warning shot a few years ago when we had the third largest bank failure in US history that basically happened because of rollbacks to the Dodd-Frank bill and loosened oversights that was meant to stop another Great Recession from happening. And we're still on the verge of one that is far worse due to venture capital and private equity companies messing with mortgage rates, housing value costs, and apartment rental costs. They're the direct reason housing or even rent is so unaffordable in this country, and they're incentivized by dark money from both in and out of the country hiding their funds in real estate to avoid paying taxes.
TheDeinonychus
2 weeks, 2 days ago
Banks don't hold your money for you, everyone has that misconception. What banks do is convince you to hand them your money, which they turn around and loan out and invest without telling you who they are loaning to or what they are investing in, and keep any profits they make off of your money. Occasionally they'll give the money back if you ask, but they'll also charge you for the privilege of letting them profit off of your money.

Banks are not a service, they are a pyramid scheme.
vkroo
2 weeks, 2 days ago
Yep, I know

Finding the Money - 2024 documentary:
https://www.youtube.com/watch?v=Mrje-m01kI8
Free on YouTube
KevinSnowpaw
2 weeks, 1 day ago
Not EXPLICITLY what I was referanceing but it does touch a lot on it yea! Good link.
Coonfox
2 weeks, 1 day ago
Reason? In our country right now?

To quote Cyberpunk: "Wrong place, wrong people."
KevinSnowpaw
2 weeks, 1 day ago
Well to be fair this problem goes back a great meny years and has been something we have struggled to resist since the founding of our nation, But I take your point.
SqueakyTheWolf
2 weeks, 1 day ago
Oh hey look it's that thing that's happening right now. Hello BlackRock!
KittyPrint
2 weeks, 1 day ago
This is why I am part of a Federal Union, not a Bank.  We our its shareholders.
ArionEquus
2 weeks, 1 day ago
Like above. I don't hand my money to a bank. I'm a member of a credit union. Banks exist only to exploit, and the only reason they prosper is because they've convinced everyone that they provide some sort of service.
CuriousFerret
2 weeks, 1 day ago
Banks and mortgage companies issue debt, not currency.

The Federal Reserve sets intrest rates on borrowing and does not issue currency.

American inflation isn't influenced by too much paper money floating around.

It's companies controlling supply to manipulate demand.

Why farmer burn crops in their fields to keep prices from crashing.

Why corprations buy up houses to keep them off the market to keep prices high.

The wealthy already own everything.

It has nothing to do with banks.
KevinSnowpaw
2 weeks, 1 day ago
I could spend a lot of time on this but its nuanced and im at work....



As of president J Edgar Hoover yes, the fed Can issue currency. There's a damn good reason our founding fathers wished to avoid the evil of a centralized bank. The fed has more powers NOW then it originally did. Now im not opposed to banks that's silly but I am opposed to a centralized bank with issuing power especialy when whats issued is worthless fiat currency.

We get loans from the banks, the BANKS get there money from the fed to cover there own lending needs since they lend more then they have.


When your currency is literaly backed by debt lending becomes currency.

Not to mention the fed can call the mint and order more bills to be printed to cover lending requirements any time they feel it's nessasary with 0 government oversight.


The cash flow of this nation is managed entirely by a privite business, there's nothing federal about the federal reserve.
TheDeinonychus
2 weeks, 1 day ago
This is why some people have pushed for a return to the gold standard, and why people who have made fortunes working with financial institutions have fought against it so vehemently. A return to the gold standard, a system that limits currency by basing it on the value of a real tangible item, would limit their ability to materialize wealth.

A friend of mine once had a discussion why it seems like every rich person buys up art. They're not collecting or buying it for it's value. They're buying it for the insurance. A rich man buys a painting for $400,000, but insures it for $500,000. Then in 5 years he sells it, using the value it was insured at as the price. He's just made $100,000 out of thin air.
CuriousFerret
2 weeks, 1 day ago
I'm curious.

How much goes into insure the painting?

And what garrunetees anyone can afford to purchase it at the artificially inflated value?
KevinSnowpaw
2 weeks, 1 day ago
a painting is just comodity goods, Goods and Property tend to hold there value much better then paper money it is just one form of investment and is by no means a garantee. This is why most will tell you to divest.
CuriousFerret
2 weeks, 1 day ago
Well at least you're not pushing NFTs.
KevinSnowpaw
2 weeks, 1 day ago
good lord have SOME respect for me! XD
TheDeinonychus
2 weeks, 1 day ago
There is no guarantee the item can be sold at the insured value. However, if an item, such as a work of 'art', can't be sold at auction, it can often be donated to a gallery or some other public institute, netting the donator a tax credit based on the value of the donation. This is how, while on paper a wealthy individual may be required to pay an income tax of up, for example, 40%, they knock it down with tax credits and other deductions to 5% or even lower.

My point is that there are many ways the wealthy can 'create' money where it doesn't exist, or negate their financial obligations in ways the average person just can't do because it requires substantial wealth to do in the first place.
CuriousFerret
2 weeks, 1 day ago
I'm not certain art donations count for deductions on taxes.  Especially with how difficult itemized deductions are now days.

Taken as an equity loss I can see, sold under purchase value.
KevinSnowpaw
2 weeks, 1 day ago
Donations "to the arts and sciences" can count as a tax rightoff. im not entirely sure on the exact spasifics...ive never had to donate art before XD if only I could be so disgustingly wealthy such a thing would be a concern.
CuriousFerret
2 weeks, 1 day ago
When you get a moment, please do inform me what mechanism the Federal Reserve has to order the treasury to anything?

KevinSnowpaw
2 weeks, 1 day ago
currancy print orders
"
The Federal Reserve determines the amount of new currency needed based on projected demand and then orders its production from these Treasury agencies


the treasury agencies in question being the US mint.

they were given this power thanks to a serten dick head president.
CuriousFerret
2 weeks, 1 day ago
Replacing damaged bills and filling orders backed by collateral.

Which is why it's not increasing inflation.

Trump simply wants to lower rates to make it cheaper for corprations to operate under their current debt loads.

Why you should be more worried about corporate debt then public.
KevinSnowpaw
2 weeks, 1 day ago
they sadly do much more then replace damaged bills.

im going to OVER simplify this for the sake of time Nither one of us wants or probobly NEEDS an entire Lesson on economics.


See when you want some money or some credit and you dont HAVE it you can go to the bank.

you take out a loan or a credit line which is effectively an on demand loan amount, under promiss of repayment of corse.


the bank loans you 100 dollars! the bank has 500 dolars.

THe bank loans me 400 Dollars becouse IM a very good boy, then the bank loans your friend 500 Dollars WHOA wait a sec, the bank just loaned money it doesnt have! Hows it going to do that? well fractional Reserve banking...wich is a dangerous game but we wont cover the details here.


THe bank needs to cover its OWN loan requirments now, it's promissed more money then it Has in credit and loans so it gets a loan from the Fed. The Fed actualy charges banks interest on this but thats fine Banks make shit loads of money off Loan and Credit interest, long as the DEBT flows around they make it up and then some.


So then teh FED places an Order to the MINT based on it's projections for how much Money has been loaded out and how much credit has been issued. OK? So the problem with THAT is since we use FIAT currancy wich is literaly worth "whatever the government just fucking says it is worth" every time they loan out more then they HAVE and ask the fed for more and then the fed turns around and has the Mint print more becouse Debt=Profits thats how the system works, they are effectively createing money out of DEBT first, then PRINTING money to cover it.


this is a over simplification but thats basicly the whole ISSUE. Now if the GOVERNMENT had not Released Control of that process TO the Fed, they could tell the fed to FUCK the hell off and stop handing out laons and credit but we CANT do that now because that would stagnate the economy in a TERRIBLE way so the compensate, they end up giveing out more and MORE loans and credit even to BAD credit risks and immigrents who are just here for work or here ilelgaly. Beocuse they dont care...the system REQUIRES more debt.


it works FINE


For now...



eventualy it will no longer be able to support its own waight and the entire system will crush down in on itself like a Nutron Star XD

so in order to continue to facilitate this mess and to make sure they GET there MONEY the Deferal Reserve created the IRS...


So when you pay TAXES your not paying the Government to run shit... the government just ASKS THE FED to loan THEM money when they want to spend, spend, spend so the IRS collects taxes for the FED you pay a privite BANK for the expedatures of your nation...


this system is entirely fucking preditory.
CuriousFerret
2 weeks, 1 day ago
Oh those pesky immigrants.

How come you haven't moved into the central valley and started picking almonds and alfalfa?

You are aware that the majority of U.S. debt is held by the Medicare and Soical Security trusts right?

How does removing the Fed solve the disproportionate revenue and spending?

How is that going to alter the appropriations and finical commitments past congresses have approved?
KevinSnowpaw
2 weeks, 1 day ago
its not a problem that there immigrants, and you know it, it's a problem that there bad credit risks, at least for a while. That should be simple. You shouldn't give credit to frat boys either but they do XD


this complaint is not an salution it's simply pointing out a problem, dont answer with "but what about this" it's not a debate or an argument, it's an observation.

My problem is not even with the fiat currancy system we are tragicly addicted to per say..though I DO wish our money was backed by something more tangible then a fucking Wish and a dream, the fed should not have the powers that it has...piriod.

For sombody who hates corperations you seem to be keen to defend THIS one.


The fed might even need to stay around for now loath as I am to admit, but it should not be the all powerful centralized bank of the US that it currently is.

if the majority of the USA's debt is tied up in things like medicair and medicaid then we need to look into that and see if we can stop that from being so expensive, but thats an entirely different topic and problem.


Its like you post on my journals discussing difficult topics Spasificly to be contrarian, complete with all the hyperbole and strawmans one might expect.


as for the trump remarks earlier I dont think Trumps going to Kill or even Lessen the power of the Fed XD hes already has several assassination attempts I think he has decided to say off the Grassy Gnole for now.

removeing the fed doesnt solve these problems but it does solve the problem of the fed being a privite business with acsess to all the nations wealth XD it gets us out fo the direct influance of the same people who destroyed the economy of England after the battle of waterloo, and puts the financial control in the hands of the federal government were it belongs and not in the hands of a shadowy board of trusties.


If I told you trump had decided to put Walmart or Tesla in charge of your money from now on or your health care ect I think you would find that horrible would you not?
CuriousFerret
2 weeks, 1 day ago
What strawman did I present?

You brought up immigrants as a factor for inflationary effects.

The British Empire bankrupted itself in WWI, and would have fallen to occupation if the U.S. hadn't propped it up through WWII.  It's wasn't finical policy that fell it, it was the lack of being able to exploit it's colonies any more and having to rebuild their ruined industry.

The fed isn't a corporation.  I'm not opposed to the notion of congressional oversight being as inter and intra commence are their jurisdiction.  There simple isn't any legislation effecting that at this time.

The comment I made on Trump is a fact.  He has stated he wants to replace the Fed Chairman to effect policy he wants.  Lowering rates for the purpose of making corporate debt cheaper.

Which would mean more lending on massive scale which we both acknowledge as a factor for inflation to rise.

If you want prices to return to normal, we need to normalize our trade policy.  Tariffs raise prices, and retaliatory policy other nations take has disturbed our own markets as producers can't sell as they had planned.

Oh, and the disruptions happening in the labor force from racially targeted ICE raids.

Only immigrant Trump needs to deport is Elon Musk.
KevinSnowpaw
2 weeks, 1 day ago
i brought up immigrants as a lending risk because they are XD legal or otherwise, thats just a fact untill they have been here and finicialy stablized enough at least.


the strawmen are all the little side arguments you keep trying to argue by making statements unrelated to what im even talking about XD, like the comment about me picking Arugala from the feilds... news flash Immigrents dont really do that either, theres a fair few sure but the majority of them are doing the same no skill labout and "gig" jobs that highschool kids with no work experiance would normaly take. Like smart shoppers at walmart, or door dash.

now your talking about Britten and world war one, I said the battle of waterloo, thats the napolianic wars! Enitrely different time line. the banks literaly sold england out, look it up. This happened XD
DanteAffinityXD
2 weeks, 1 day ago
Only time I remember that quote is with relation to this?

https://youtu.be/jMjtZuPJca4?si=IVzgqK-pP-F4H00f

That was an old video and definitely a hallmark of my memories of the 2008 financial crisis :/. It also kind of fibs. If I recall, there are basically two paths for the US government to raise it's money.

1) It raises money by selling treasury bonds, loans that it pays back at a specific interest rate.
2) It can print money directly, but to use this to fund the government, this would be bad. Very very bad.

1 is how the US government prefers to do business. It happens to be in a very privileged position because the entire world sees it as one of the most stable forms of currency. The US is perceived as very wealthy and... the only reason it might have a debt default is if it's politicians are throwing a VERY EXPENSIVE temper tantrum.

The value of 1, however is set by an auction for how much interest people demand in exchange for loaning the government the money. Try to lower the interest rates too fast and that auction might FAIL. No one is required to loan you money, so... this is entirely a possibility. But then when you come back the next time, things are going to be even worse. The fed might have to INCREASE interest rates at a time when it wants to decrease them because... otherwise no one takes the loans and... Uncle Sam, while rich, is addicted to debt :/.

Why? A failure to sell the bonds, means no one was interested in the debt, making others even more cautious in buying it unless someone sweetens the pot.

If they take option 2, however, they are in for a WORLD of hurt. It will trigger large amounts of inflation until it stops... but when it stops, you've just burned your bridges down with past debt. No one will want to loan the US any more money at 4-5%. No no no. THEN the congress gets to enjoy taking out trillion dollar loans at 10-50%. Basically, at that point, the US becomes end game Soviet Union and has to drive it's entire growth through taxes until it can repair it's credit... and that will remove us from being a world power because we'll be running a country from a Payday Loan center :/.

Ultimately, I feel like the US has lost sight of the value of the debt. It's used to pander to various political causes of the moment, instead of being an instrument of growing the GDP and economic prosperity of the nation (the only useful thing to do with debt). If the US used debt to expand it's economic capabilities, the debt is no longer a problem, paying for itself in wise investments. But... when it's simply squandered, that's when voters start looking and saying "Why am I paying taxes for some political stunt before I was even born?"
KevinSnowpaw
2 weeks, 1 day ago
it is a quote used in the film yes =p


And that video is something that should be shown in schools XD

but it is an actual quote from Jefferson.
thecooler
2 weeks, 1 day ago
Have you also notice that specific 1% is the one telling every one else the other 1% s of the population are the evil ones? (talking about the billionaires) making others believe that getting rid of that other 1% is gonna make them better people but all they are is slaves to the first 1% "divide and conquer!" so is the "united" states of America.

that is the 1% we all in the world should be fighting to get rid off!
SomeStickyGoo
2 weeks, 1 day ago
With how worthless the dollar has become, this is why I stack gold and silver and platinum.
Of course maybe I'm just monkey brained and like the shines!
Oooh ooh pretty colors! Lol!
stickyfox
2 weeks, 1 day ago
"if you know" what? And if there's no point in talking about it... how do we find our way back to reason?

I don't get what you're saying. Just let it out. Others may feel the same way. A lot of people are stressed out right now.
KevinSnowpaw
2 weeks ago
Im doom posting about the federal reserve being an evolutionary, unconstitutional monolith that ever since it managed to take root has been feeding on our economy like a tick. Every president who tried to undue them also got asassinated. But now we're straying into tinfoil hat territory.
CrystalMendrilia
1 week, 4 days ago
I just found out a few ago.   *Hugs*
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