abolish the FED

[SoldierMan]

It's their currency, they can print however much they like. If you don't like it don't use dollars.

Seriously? You totally missed the point How about addressing it rather than shifting the debate.

But to address your point, if the dollar collapses due to endless printing, it will have worldwide repercussions. The American people will suffer tremendously with food and energy prices. Life will change forever. I care not about the elites I care about the average person. They will suffer, including those in other countries.

 

[SoldierMan]

Way too much conspiracy nonsense.

So that's it? A one-liner cop-out? Thought you were better than that.... hmmm oh well.

And it shows your ignorance because banks regularly get fines for doing bad business and no jail time. Your conspiracy is everyone else's reality.

 

[rietrot]

Seriously? You totally missed the point How about addressing it rather than shifting the debate.

But to address your point, if the dollar collapses due to endless printing, it will have worldwide repercussions. The American people will suffer tremendously with food and energy prices. Life will change forever. I care not about the elites I care about the average person. They will suffer, including those in other countries.

All those average people chose to use the dollar and be reliant on the system. It's not the Feds fault if people especially in other countries don't care about being self reliant and self sufficient.

 

[rietrot]

So that's it? A one-liner cop-out? Thought you were better than that.... hmmm oh well.

And it shows your ignorance because banks regularly get fines for doing bad business and no jail time. Your conspiracy is everyone else's reality.

Too much generalization. Not all banks are central banks. Are you against all banking now?

 

[SoldierMan]

All those average people chose to use the dollar and be reliant on the system. It's not the Feds fault is people especially other countries don't care about being self reliant and self sufficient.

That makes zero sense. Of course many people will use the dollar because (naively) they believe that those in charge will DO THE RIGHT THING and make good decisions about America's future and economy. They expect the powers that be to make INTELLIGENT decisions about the economy, not to lead it on a path that ends in disaster.

 

[SoldierMan]

Too much generalization. Not all banks are central banks. Are you against all banking now?

LOL Come now, clearly I'm talking about the bad apples like JP Morgan and co. and those that made predatory loans (and then made bets against their own customers!) to people who couldn't afford them that led to the crash. Some of JP Morgans traders were recently charged with manipulating precious metal prices. Though that is the tip of the iceberg.

 

[rietrot]

That makes zero sense. Of course many people will use the dollar because (naively) they believe that those in charge will DO THE RIGHT THING and make good decisions about America's future and economy. They expect the powers that be to make INTELLIGENT decisions about the economy, not to lead it on a path that ends in disaster.

For some people savings there job in the moment is the right thing. Most people like free money.

And it's not necessarily bad if invested properly.

You need to show that putting some of the biggest American banks through bankruptcy and costing tens thousands of people their livelihoods would have been better.

 

[rietrot]

LOL Come now, clearly I'm talking about the bad apples like JP Morgan and co. and those that made predatory loans (and then made bets against their own customers!) to people who couldn't afford them that led to the crash. Some of JP Morgans traders were recently charged with manipulating precious metal prices. Though that is the tip of the iceberg.

JP Morgan is a private business not a central bank. This thread is about the FED.

 

[SoldierMan]

JP Morgan is a private business not a central bank. This thread is about the FED.

Threads evolve sometimes, and JP and co. love getting free money so they are part of the problem.

 

[SoldierMan]

For some people savings there job in the moment is the right thing. Most people like free money.

And it's not necessarily bad if invested properly.

You need to show that putting some of the biggest American banks through bankruptcy and costing tens thousands of people their livelihoods would have been better.

So why did they bail out the creditors then? Why not bail out the debtors, then all would have been fine. Instead they paid banks trillions only to have them hoard that money for the 1%. It did not trickle down and effectively was wasted. If they had bailed out the debtors then they could have paid their debt and everyone would have come away smiling.

Invested properly, indeed, except they didn't do that, did they.

 

[rietrot]

So why did they bail out the creditors then? Why not bail out the debtors, then all would have been fine. Instead they paid banks trillions only to have them hoard that money for the 1%. It did not trickle down and effectively was wasted. If they had bailed out the debtors then they could have paid their debt and everyone would have come away smiling.

Invested properly, indeed, except they didn't do that, did they.

No. Bailing out the debtors is literally free money at the lowest level. You'll get a Zimbabwe situation.

Whereas financing businesses at least protected most jobs with minimal inflation.

You have this whole thing backwards.
Your jealousy of the 1% (whatever you actually mean by that, it's communist propaganda) is clouding your judgement.

 

[saturnz]

For some people savings there job in the moment is the right thing. Most people like free money.

And it's not necessarily bad if invested properly.

You need to show that putting some of the biggest American banks through bankruptcy and costing tens thousands of people their livelihoods would have been better.

it doesn't look like jobs were saved

 

[rietrot]

it doesn't look like jobs were saved

Lol yes obviously letting more businesses fail(not doing bailouts) would have resulted in less job loses.

 

[SoldierMan]

No. Bailing out the debtors is literally free money at the lowest level. You'll get a Zimbabwe situation.

Yet they are doing that right now during the Covid crisis, giving out money at the "lowest level". Explain how that would lead to a Zimbabwe scenario. China is doing the same thing.

Whereas financing businesses at least protected most jobs with minimal inflation.

What? Now you say you want to give money to businesses, aren't they debtors as well? Literally all businesses are owned by the people so you are contradicting yourself.

Or are you saying give the money to the banks who will lend to the businesses. That DID NOT happen.

You have this whole thing backwards.

How so?

Your jealousy of the 1% (whatever you actually mean by that, it's communist propaganda) is clouding your judgement.

You think I'm jealous of the 1%, not even in the slightest my friend. What I'm worried about (and have said so earlier) is the average man that is getting shafted by the Fed and the banks.

The 0.1% literally get free money from the Fed. Look it up. "Communist propaganda", wow you certainly are clueless on who is getting money and from where.

 

[saturnz]

Lol yes obviously letting more businesses fail(not doing bailouts) would have resulted in less job loses.

I didn't suggest that saving jobs was important, you did.

 

[rietrot]

Yet they are doing that right now during the Covid crisis, giving out money at the "lowest level". Explain how that would lead to a Zimbabwe scenario.



What? Now you say you want to give money to businesses, aren't they debtors as well? Literally all businesses are owned by the people so you are contradicting yourself.

Or are you saying give the money to the banks who will lend to the businesses. That DID NOT happen.



How so?



You think I'm jealous of the 1%, not even in the slightest my friend. What I'm worried about (and have said so earlier) is the average man that is getting shafted by the Fed and the banks.

The 0.1% literally get free money from the Fed. Look it up. "Communist propaganda", wow you certainly are clueless on who is getting money and from where.

The average man isn't shafted by anyone any more than any other central system will do. Most centralized systems are worse.

America is great, and well the printing has been good for the average guys pension so that he can retire rich, whereas giving him the money directly would have caused runaway inflation.

 

[rietrot]

I didn't suggest that saving jobs was important, you did.

No I didn't.

 

[SoldierMan]

The average man isn't shafted by anyone any more than any other central system will do. Most centralized systems are worse.

Tell that to the millions of people who's money will lose it's value the mroe and more money is printed. You know how that works right. Like when Zimbabwe tried it. It will just take a little longer with the US.

You telling me the average man didn't get shafted by the 2008 crash???! Many lost a ton of money, many lost houses, many lost everything.

That is due to the bank's predatory loans (like I said some of those banks even made bets against their own customers that they would fail to repay!!!!), surely you can see that that is shafting the average man??

America is great, and well the printing has been good for the average guys pension so that he can retire rich, whereas giving him the money directly would have caused runaway inflation.

But they are giving people money now and there is no inflation.

You seem to think that inflation will only occur if Main Street is bailed out, yet somehow the US is protected from inflation if Wall Street is bailed out. Why is that?

 

[rietrot]

Tell that to the millions of people who's money will lose it's value the mroe and more money is printed. You know how that works right. Like when Zimbabwe tried it. It will just take a little longer with the US.

You telling me the average man didn't get shafted by the 2008 crash???! Many lost a ton of money, many lost houses, many lost everything.

That is due to the bank's predatory loans (like I said some of those banks even made bets against their own customers that they would fail to repay!!!!), surely you can see that that is shafting the average man??



But they are giving people money now and there is no inflation.

You seem to think that inflation will only occur if Main Street is bailed out, yet somehow the US is protected from inflation if Wall Street is bailed out. Why is that?

Money is supposed to lose value. That's how it works, it is a build in function not a flaw. That's why people invest their money and don't put it under their mattress.

Lol and wtf is a predatory loan. People should be adults and responsible for their own actions, if they took a loan they cannot pay it is their own fault.

 

[saturnz]

No I didn't.

it looks like it to me

For some people savings there job in the moment is the right thing. Most people like free money.

And it's not necessarily bad if invested properly.

You need to show that putting some of the biggest American banks through bankruptcy and costing tens thousands of people their livelihoods would have been better.

you are suggesting that saving banks from bankruptcy saved jobs, thus placing some sort of importance on job safety

and millions have lost their livelihoods recently, just so by the way