Do you understand that countries purposely devalue their currency for economic growth - Germany, China and Japan are prime examples. That you believe there is something inherently evil with devaluing currency tells me you do not know anything. Move along and stop spreading fear, disinformation and ignorance.
Finished reading MLK's speech "I've been to the mountaintop" and he mentions a black-owned bank...
- Thread starter Gallo
- Start date
Do you understand that countries purposely devalue their currency for economic growth - Germany, China and Japan are prime examples. That you believe there is something inherently evil with devaluing currency tells me you do not know anything. Move along and stop spreading fear, disinformation and ignorance.
Molecule Man
Banned
LOL, you are outmatched here. Go on and put your money in the banks. They care so much about you. Go on Amazon, look up a book called 'Currency Wars.' Read that book and an entry-level economics book as well. Then respond to me again once you have educated yourself bc you are not on my level.
I don't have to refute something so dumb. Taking bank behavior from 1980 onward and using that as a definition banking is as dumb a thing I've read all day.
Molecule Man
Banned
Is Fractional Reserve Banking harmful Yes or No
Do banks depend robbing people of their wealth to exist Yes or No
Has the U.S. Federal Reserve Banking System caused the U.S. Dollar to become almost completely worthless Yes or No
Is it just for a person to make profit off of something that they did not have to work for Yes or No
To make It easy for you and to keep you from dodging questions
Molecule Man
Banned
I must laugh though at the ignorance of some of you. 'Oh yes, let's champion a system that says you can control an economy the size of the United States' through Central Banking.' Never mind the fact that our greatest economy existed when there was no central bank whatsoever. Never mind that the system you love so dearly is responsible for the inflation of prices that is so harming your precious communities. Never mind the fact that none of you will be able to retire on Social Security bc the same system has allowed spending to become so rampant and out of control. Never mind that many blacks cannot find work bc it is outsourced away partly bc of so-called 'Currency Wars.' The Housing Crash, Dot-Com Bubble, Great Depression, all were caused in part or outright by this system and you have the nerve to defend it. Do not respond to me unless you know what the fukk you are talking about.
Breh please stop. If you want to debate Fed banking conspiracy theories head to this thread...
http://www.thecoli.com/threads/debunking-federal-reserve-conspiracy-theories.50207/
Molecule Man
Banned
To Poitier
Fractional Reserve Banking is harmful in two major ways off the top of my head. First, it allows the eroding of monetary value through inflation. Second, it allows banks to make a profit off of something that they do not own. If you work 8 hours, you are paid for 8 hours. Do I have a just claim on your money? No. Now you will say that a bank deserves that money bc they are performing a service. That service is the 'protection' of the customer's money in an account. But that in and of itself would not be bad. The great sin of banks is that they make money off of money that DOES NOT EVEN EXIST to begin with. That is the whole purpose of Fractional Reserve lending. What is Wal Mart's purpose, to give all this merchandise away out of the goodness of its heart? No, it is to run a business and make a profit. A bank is also a business, it just makes its money in a different manner. So no, it doesn't 'Depend' on anything if you are asking if F.R. is harmful. It is, period.
The U.S. Dollar has lost over 90 percent of its value bc of the Federal Reserve. The Fed has caused this by inflating the monetary supply up to unsustainable levels. There is a thread in this forum complaining about Wendys having ever higher and higher prices. That is inflation. And that has come about precisely bc of the Federal Reserve. You need to look into how this entity and your precious banks 'create' money to understand this, I will not type it out for you here.
And you agree that it is not just for a person to make a profit on something they did not work for, then you also agree with our banking system which engages in this behavior on the greatest scale on earth. You seem confused.
Fractional Reserve Banking is harmful in two major ways off the top of my head. First, it allows the eroding of monetary value through inflation. Second, it allows banks to make a profit off of something that they do not own. If you work 8 hours, you are paid for 8 hours. Do I have a just claim on your money? No. Now you will say that a bank deserves that money bc they are performing a service. That service is the 'protection' of the customer's money in an account. But that in and of itself would not be bad. The great sin of banks is that they make money off of money that DOES NOT EVEN EXIST to begin with. That is the whole purpose of Fractional Reserve lending. What is Wal Mart's purpose, to give all this merchandise away out of the goodness of its heart? No, it is to run a business and make a profit. A bank is also a business, it just makes its money in a different manner. So no, it doesn't 'Depend' on anything if you are asking if F.R. is harmful. It is, period.
The U.S. Dollar has lost over 90 percent of its value bc of the Federal Reserve. The Fed has caused this by inflating the monetary supply up to unsustainable levels. There is a thread in this forum complaining about Wendys having ever higher and higher prices. That is inflation. And that has come about precisely bc of the Federal Reserve. You need to look into how this entity and your precious banks 'create' money to understand this, I will not type it out for you here.
And you agree that it is not just for a person to make a profit on something they did not work for, then you also agree with our banking system which engages in this behavior on the greatest scale on earth. You seem confused.
Molecule Man
Banned
Those are not theories, those are facts. Are you legit retarded? It's like you don't know anything about this topic whatsoever. The Fed has caused near countless financial difficulties by its attempts to 'control' the economy. That is not an opinion, that is a matter of public record. You need to read up on what it has done. I have.
Molecule Man
Banned
http://en.wikipedia.org/wiki/Gilded_Age#Economic_growth
But keep posting smileys bro, they are helping you so much in here.
'During the 1870s and 1880s, the U.S. economy rose at the fastest rate in its history, with real wages, wealth, GDP, and capital formation all increasing rapidly'
Rapid growth doesn't equal "the greatest economy existed"
African nations are experiencing a gilded age? Guess what? Its because they are developing nations
Molecule Man
Banned
http://en.wikipedia.org/wiki/Federal_reserve
'The Federal Reserve System (also known as the Federal Reserve, and informally as the Fed) is the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act...'
'The Federal Reserve System (also known as the Federal Reserve, and informally as the Fed) is the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act...'
Molecule Man
Banned
Rapid growth doesn't equal = greatest economy existed
Our economy is defined by its growth you imbecile. That's why each time you hear an economist talk about it, they are saying that we either experienced such and such growth or we failed to experience such and such growth. Our ENTIRE economy now depends on an endless cycle of growth to sustain itself. Again, I could go into why that is, but you can thank your banking system that allows it. Just know that it is unsustainable and will therefore stop.