Comments on: 18 Things You Didn’t Know About The Federal Reserve System http://lenpenzo.com/blog/id638-18-things-you-didnt-know-about-the-federal-reserve-system.html The offbeat personal finance blog for responsible people. Fri, 17 Feb 2012 00:33:27 +0000 hourly 1 http://wordpress.org/?v=3.0.4 By: Len Penzo http://lenpenzo.com/blog/id638-18-things-you-didnt-know-about-the-federal-reserve-system.html#comment-142334 Len Penzo Sun, 08 Jan 2012 18:28:25 +0000 http://lenpenzo.com/blog/?p=638#comment-142334 First off, I am not a fan of the Fed, but if you are going to say #12 is "nonsense," how do you explain that there was more instability in the six decades <em>before</em> the creation of the Fed -- as evidenced by the Panics of 1857, 1873, 1893, and 1907 -- than the 100 years after? Just sayin', Mr. paul. And another thing: how does FDIC insurance work if you are on the gold standard? First off, I am not a fan of the Fed, but if you are going to say #12 is “nonsense,” how do you explain that there was more instability in the six decades before the creation of the Fed — as evidenced by the Panics of 1857, 1873, 1893, and 1907 — than the 100 years after? Just sayin’, Mr. paul.

And another thing: how does FDIC insurance work if you are on the gold standard?

]]> By: Ron paul http://lenpenzo.com/blog/id638-18-things-you-didnt-know-about-the-federal-reserve-system.html#comment-142333 Ron paul Sun, 08 Jan 2012 18:08:07 +0000 http://lenpenzo.com/blog/?p=638#comment-142333 Paragraph 12 is just nonsense. The fed creates instability in the markets, not stability...that is what booms and busts are. Also, per the banking crisis of 1907, that could have been avoided by FDIC insurance and: Banking Panic of 1907 The New York Stock Exchange dropped dramatically as everyone tried to get their money out of the banks at the same time across the nation. This banking panic spurred debate for banking reform. JP Morgan and others gathered to create an image of concern and stability in the face of the panic, which eventually led to the formation of the Federal Reserve. The founders of the Federal Reserve pretended like the bankers were opposed to the idea of its formation in order to mislead the public into believing that the Federal Reserve would help to regulate bankers when in fact it really gave even more power to private bankers, but in a less transparent way. Paragraph 12 is just nonsense. The fed creates instability in the markets, not stability…that is what booms and busts are. Also, per the banking crisis of 1907, that could have been avoided by FDIC insurance and:
Banking Panic of 1907
The New York Stock Exchange dropped dramatically as everyone tried to get their money out of the banks at the same time across the nation. This banking panic spurred debate for banking reform. JP Morgan and others gathered to create an image of concern and stability in the face of the panic, which eventually led to the formation of the Federal Reserve. The founders of the Federal Reserve pretended like the bankers were opposed to the idea of its formation in order to mislead the public into believing that the Federal Reserve would help to regulate bankers when in fact it really gave even more power to private bankers, but in a less transparent way.

]]> By: Len Penzo http://lenpenzo.com/blog/id638-18-things-you-didnt-know-about-the-federal-reserve-system.html#comment-141724 Len Penzo Thu, 29 Dec 2011 03:17:30 +0000 http://lenpenzo.com/blog/?p=638#comment-141724 Calm down, Ranger. It's quasi-private, unlike, say, a truly private bank that has to earn a profit for shareholders. Either way, it sounds like we both agree that the Fed is a sham and needs to be abolished. Calm down, Ranger. It’s quasi-private, unlike, say, a truly private bank that has to earn a profit for shareholders. Either way, it sounds like we both agree that the Fed is a sham and needs to be abolished.

]]> By: Ranger http://lenpenzo.com/blog/id638-18-things-you-didnt-know-about-the-federal-reserve-system.html#comment-141723 Ranger Thu, 29 Dec 2011 03:04:31 +0000 http://lenpenzo.com/blog/?p=638#comment-141723 This is CRAP the federal reserve is PRIVTE!! If you don't beleve me, look In the federal pages of your phone book! Did you find a listing for the Federal reserve? NO!!! How about the no trespassing signs on the fed buildings, that say in part "Private property no trespassing" and last but not least, the security officers that work at the federal reserve have and will openly admit it's PRIVTE!! This is CRAP the federal reserve is PRIVTE!! If you don’t beleve me, look In the federal pages of your phone book! Did you find a listing for the Federal reserve? NO!!! How about the no trespassing signs on the fed buildings, that say in part “Private property no trespassing” and last but not least, the security officers that work at the federal reserve have and will openly admit it’s PRIVTE!!

]]> By: Len Penzo http://lenpenzo.com/blog/id638-18-things-you-didnt-know-about-the-federal-reserve-system.html#comment-129041 Len Penzo Thu, 22 Sep 2011 05:19:31 +0000 http://lenpenzo.com/blog/?p=638#comment-129041 Kennedy had the right idea. Kennedy had the right idea.

]]> By: roy begley http://lenpenzo.com/blog/id638-18-things-you-didnt-know-about-the-federal-reserve-system.html#comment-128859 roy begley Thu, 22 Sep 2011 04:06:44 +0000 http://lenpenzo.com/blog/?p=638#comment-128859 well it seems odd that LBJ's first act as president was to rescind kennedy's article which disempowered the fed... you know what they say........... "follow the money..." well it seems odd that LBJ’s first act as president was to rescind kennedy’s
article which disempowered the fed…
you know what they say………..
“follow the money…”

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