StupidNation Posted September 21, 2008 Posted September 21, 2008 All the perplexities confusion and distress in America arise not from defects of the Constitution, not from want of honor or virtue, so much as from downright ignorance of the nature of coin, credit and circulation. -John Adams, in a letter to Thomas Jefferson in l787 If the American people ever allow private banks to control the issue of their currency, first by inflation and 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 Of all the contrivances devised for cheating the laboring classes of mankind, none has been more effective than that which deludes him with paper money. -Daniel Webster The colonies would have gladly born the little tax on tea, and other matters, had it not been that England took away from the colonies their money. -Benjamin Franklin This is a favorable moment to shut and bar the door against paper money. The mischief of the various experiments which have been made are now fresh in the public mind and have excited the disgust of all the respectable parts of America. -Oliver Ellsworth, a delegate from Connecticut, who later became this nation's third Chief Justice of the Supreme Court. I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a money aristocracy that has set the government at defiance. -Thomas Jefferson, at the Constitutional Convention (1787) Other quotes about what happened to our country: Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the ruled, one of the most completely controlled and dominated governments in the civilized world - no longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and duress of small groups of dominant men. -Woodrow Wilson, three years after signing the Federal Reserve Act into law It is well enough that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. -Henry Ford It's apparent from the whole context of the Constitution as well as the history of the times which gave birth to it, that it was the purpose of the Convention to establish a currency consisting of the precious metals. These were adopted by a permanent rule excluding the use of a perishable medium of exchange, such as of certain agricultural commodities recognized by the statutes of some States as tender for debts, or the still more pernicious expedient of paper currency. -President Andrew Jackson, 8th Annual Message to Congress (December 5, 1836) I know this won't get much play because it doesn't promote the Messiah or the great Egomaniac
molson_golden2002 Posted September 21, 2008 Posted September 21, 2008 I'm not to sure about this Paulson Plan: http://www.bloomberg.com/apps/news?pid=206...&refer=home Through his plan, Treasury Secretary Henry Paulson aims to avert a credit freeze that would bring the financial system and the world's largest economy to a standstill. The bill would prevent courts from reviewing actions taken under its authority. ``He's asking for a huge amount of power,'' said Nouriel Roubini, an economist at New York University. ``He's saying, `Trust me, I'm going to do it right if you give me absolute control.' This is not a monarchy.'' As congressional aides and officials scrutinized the proposal, the Treasury late yesterday clarified the types of assets it would purchase. Paulson would have authority to buy home loans, mortgage-backed securities, commercial mortgage- related assets and, after consultation with the Federal Reserve chairman, ``other assets, as deemed necessary to effectively stabilize financial markets,'' the Treasury said in a statement. The Treasury would also have discretion, after discussions with the Fed, to make non-U.S. financial institutions eligible under the program. The plan would raise the ceiling on the national debt and spend as much as the combined annual budgets of the Departments of Defense, Education and Health and Human Services. Paulson is asking for the power to hire asset managers and award contracts to private companies. Most provisions of the proposal expire after two years from the date of enactment. A failure by the government to support the U.S. financial system could lead to ``a depression,'' Senator Charles Schumer, a New York Democrat told reporters yesterday. ``To do nothing is to risk the kind of economic downturn this country hasn't seen in 60 years.''
Alaska Darin Posted September 21, 2008 Posted September 21, 2008 I'm not to sure about this Paulson Plan: http://www.bloomberg.com/apps/news?pid=206...&refer=home You should be happy. It's more big government.
meazza Posted September 21, 2008 Posted September 21, 2008 I'm not to sure about this Paulson Plan: http://www.bloomberg.com/apps/news?pid=206...&refer=home Do you have any better solution? Do you see how the market reacts everytime something is said? It's not an easy time to be making these decisions but the impact of letting these institutions fail is not pretty for anybody...
meazza Posted September 21, 2008 Posted September 21, 2008 You should be happy. It's more big government. He'd only approve of it if Obama said it.
bills_fan_in_raleigh Posted September 22, 2008 Posted September 22, 2008 You should be happy. It's more big government. Wait doesnt the democratic party have exclusive rights to big government :-). So once again supply side economics has thrown the country into recession.
/dev/null Posted September 22, 2008 Posted September 22, 2008 He'd only approve of it if Obama said it.
Alaska Darin Posted September 22, 2008 Posted September 22, 2008 Wait doesnt the democratic party have exclusive rights to big government :-). So once again supply side economics has thrown the country into recession. The country was going into this recession regardless of who was in power. It was inevitable after the lie that was "The Clinton Economy". I think this administration actually staved it off for a bit by cranking up the military industrial complex but the housing market fall was happening regardless. And I never said the Democratic party had exclusive rights to big government. The Republicans are even more disgusting on the subject because it's completely contrary to their stated platform. At least with the Dummies you know exactly what you're getting.
bills_fan_in_raleigh Posted September 22, 2008 Posted September 22, 2008 The country was going into this recession regardless of who was in power. It was inevitable after the lie that was "The Clinton Economy". I think this administration actually staved it off for a bit by cranking up the military industrial complex but the housing market fall was happening regardless. And I never said the Democratic party had exclusive rights to big government. The Republicans are even more disgusting on the subject because it's completely contrary to their stated platform. At least with the Dummies you know exactly what you're getting. it was an attempt at sarcasm The republicans are just as bad and the fact that Bush didnt veto the pork of his party shows lack of his and the congressional leadership on both sides. I am more appaled to hear that members fo congrass are looking fro ways to add their pork to these bailouts. The only way to fix congress and the government is for an event like in the Clancy novel to occur.
Alaska Darin Posted September 22, 2008 Posted September 22, 2008 it was an attempt at sarcasm The republicans are just as bad and the fact that Bush didnt veto the pork of his party shows lack of his and the congressional leadership on both sides. I am more appaled to hear that members fo congrass are looking fro ways to add their pork to these bailouts. The only way to fix congress and the government is for an event like in the Clancy novel to occur. Sad, ain't it?
/dev/null Posted September 22, 2008 Posted September 22, 2008 The only way to fix congress and the government is for an event like in the Clancy novel to occur. Or a scene from Independence Day
bills_fan_in_raleigh Posted September 22, 2008 Posted September 22, 2008 Sad, ain't it? Yup and the scumbags that are running against um are just as scumbaggy as they are or wish to be. Real change will happen when real leadership stands up and elected officials worried about addressing the problems versus worrying about their next election
John Adams Posted September 22, 2008 Posted September 22, 2008 RE the original post, you're a kook to quote Jefferson on matters economic. There isn't a person alive who thinks he a bead on those types of issues.
meazza Posted September 22, 2008 Posted September 22, 2008 Yup and the scumbags that are running against um are just as scumbaggy as they are or wish to be. Real change will happen when real leadership stands up and elected officials worried about addressing the problems versus worrying about their next election Hence never..
Lurker Posted September 22, 2008 Posted September 22, 2008 I know this won't get much play because....I know absolutely nothing about banking and finance Fixed. So, what do you know about? Google, I suppose.... Still, I can't help wondering what do you do to put bread on the table.
molson_golden2002 Posted September 22, 2008 Posted September 22, 2008 Do you have any better solution? Do you see how the market reacts everytime something is said? It's not an easy time to be making these decisions but the impact of letting these institutions fail is not pretty for anybody... I'm sorry, I'm still in shock and awe from the last time a Bush official said we had to act immediatly or we were all going to die
StupidNation Posted September 22, 2008 Author Posted September 22, 2008 I mean it's absolutely retarded to quote the founding fathers who knew what would happen if we used fiat currency and the destruction of the dollar would eventually destroy the nation. If you constricted the money supply to an elite few who are non-electable they would have more power than elected official and could effectively control an entire nation. Because the founders are idiots and you guys are savants. Ok, I get it, you believe you know better than the founders on what awaited the country. You guys are useful idiots if you know where the quote comes from. Frankly, anyone who promotes liberty is not the person who should be scrutinized, but the person who promotes enslavement to the system. I find it funny that the founders risked their financial well-being and stability so that 200 years later they are found committing the sin of treason for not approving of socialism by elitist jack*asses. Still, I can't help wondering how I'm a tool who mentally masturbates when common sense slaps me in the face. Fixed.
GG Posted September 22, 2008 Posted September 22, 2008 RE the original post, you're a kook to quote Jefferson on matters economic. There isn't a person alive who thinks he a bead on those types of issues. But as a founding father, he's infallible to any criticism.
finknottle Posted September 22, 2008 Posted September 22, 2008 But as a founding father, he's infallible to any criticism. But the founding fathers know all, and are as relevant today as they ever were! I wish I would be around in four hundred years when the Federation takes up the debate on whether transporter technology is a murder of the original self. People will be going over every word of Jefferson and Madison and the gang for guidence, like drooling witchdoctors pawing through the entrails of a goat.
Lurker Posted September 23, 2008 Posted September 23, 2008 Fixed. Ah, that mental image conjures up a lot of possibilities. Too bad Scott never instituted a minimum age requirement for this place.... (Had any luck opening the links to the Federal Reserve board of governors/balance sheet I posted?)
Recommended Posts