Bobby Bucks
Elite Member
- Joined
- Jan 27, 2002
- Professional Status
- Real Estate Agent or Broker
- State
- North Dakota
The Federal Reserve shamelessly defined in 18 seconds
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The Federal Reserve defined in 18 seconds
- Thread starter Bobby Bucks
- Start date
Elliott
Elite Member
- Joined
- Apr 23, 2002
- Professional Status
- Certified General Appraiser
- State
- Oregon
If I bought 1/20,000 of a company (stock) that makes something that other people buy I'm content with the system. If they grow earnings and pay a dividend for my continued ownership I'm good with that too. When I go 'downtown' the shopping center is packed and all those people with dollars they exchange with bags of stuff they just bought.
Inflation is a government scam. Having enough 'money supply' to get a carrot put in front of the system at 2% is probably better than no inflation and gad don't have declining prices (The Depression). I got an email yesterday that was talking about 50-banks closing, which makes a lot of sense. If I go into the bank to get $300 bucks it takes me 10-minutes, if I use a cash machine it takes me 60-seconds. The Fed is a great example of The Peter Principle, "People are promoted to their level of incompetence," Spending $2 billion on a building that could be replaced for $6,000,000 does demonstrate how out of touch they are. The market can set interest rates just fine and we don't need to subsidize the banking industry. The Fed is too independent.
Inflation is a government scam. Having enough 'money supply' to get a carrot put in front of the system at 2% is probably better than no inflation and gad don't have declining prices (The Depression). I got an email yesterday that was talking about 50-banks closing, which makes a lot of sense. If I go into the bank to get $300 bucks it takes me 10-minutes, if I use a cash machine it takes me 60-seconds. The Fed is a great example of The Peter Principle, "People are promoted to their level of incompetence," Spending $2 billion on a building that could be replaced for $6,000,000 does demonstrate how out of touch they are. The market can set interest rates just fine and we don't need to subsidize the banking industry. The Fed is too independent.