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scottylans (October 6, 2008 at 1:13 pm)
Far FAR too many youtube 'directors' think they are clever adding music to movies which don't need it, I'm so sick of it.
farhadcoyote (October 6, 2008 at 3:36 am)
what is the purpose for he background music? so I can hear Ron Paul better?
Lysistrata8u (October 5, 2008 at 4:36 am)
Why the heck is there background music to this video, its an informational vid, that just ruined it for me. 1 star for presentation 5 stars for content
notehound (October 4, 2008 at 4:29 pm)
The Bailout, at its center, is a bailout of the Federal Reserve and its private backers. Before Congress agreed to put taxpayers on the hook, the Federal Reserve bore the entire risk of the toxic waste they had taken as collateral for their trillions in loans to insolvent banks. Now, with the Bailout, the Federal Reserve has shifted the risk to the taxpayers, and has ensured that it (the Fed) will be repaid, with interest - by taxpayers who must pay or face imprisonment by the government (IRS).
chachee99 (October 4, 2008 at 3:07 am)
exactly! The money you print, the worse the economy becomes!
ghaws (October 4, 2008 at 12:10 am)
All you Ron Paucolytes keep bringing up the concept of malinvestment in your rhetoric, but you're blowing it way out of proportion; "malinvestment" was what happened in the Soviet Union and in Japan during the 1990's. The order of magnitude to which this has occurred in the US is relatively trivial.Greenspan did screw up, but the Fed's monetary policy was only one component of the bubble; other central banks, as well as regulators, politicians, lenders, and borrowers were also at fault.
ghaws (October 3, 2008 at 11:57 pm)
Actually, as Nixon proved during Vietnam, they tend to spend more money than they really have even if there is a peg. And then where does that leave you? Look to the Chilean debt crisis of 1982. You end up worse off than if you just let the exchange rate fluctuate.You basically just outlined the argument in favor of the Fed: you can't let politicians coin money. You need to have an independent authority that isn't so beholden to the political cycle.
ghaws (October 3, 2008 at 11:53 pm)
Cum hoc ergo propter hoc? There's a large body of empirical research out there that substantiates the conclusion that fixed exchange rate regimes (which is what a gold standard is) can cause or exacerbate financial crises due to their inflexibility. If macroeconomic conditions change, these regimes block the nominal appreciation/depreciation in the currency that wants to take place — this builds up inflationary/deflationary pressures that can explode/implode violently.
ghaws (October 3, 2008 at 11:24 pm)
Yes, the 12 federal reserve banks make up the Federal Reserve System. Every nationally chartered commercial bank is legally required to be a member, and many state chartered banks may opt in if they so choose. But the "members" are completely irrelevant! Why? Because the Federal Reserve Bank Board of Governors is independently appointed by the President and confirmed by the Senate! And they're the ones who decide monetary policy, not the banks who are the "shareholders" (in name only).
kurtscash (October 3, 2008 at 6:34 am)
Look fool: Can you name the banks that make up the Federal Reserve??? Can you name the shareholders of those banks or the Federal Reserve??? You realize the Federal Reserve is just a name like FederalExpress???My question is once again, why the hell do we need FOREIGN Banks involved in the coining and circulating of our currency= Answer= WE DONT. Thomas Jefferson said, If we ever let bankers coin and value money, you will end up enslaved on the continent we conquered!!! |
