The Creature from Jekyll Island: A Second Look at the Federal Reserve

Author: G. Edward Griffin
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by totopsgr   2019-07-21

by Crzy_Victoriouz   2019-07-21

Your a damn fool. Believe what you want to believe.


I bet this is your source. Right. Like these people owe your simpleton pothead ass an explanation? lol


Read this book you jack ass!

Wake up! your in dream land.

by [deleted]   2019-07-21

Nope, there's not. The money you have in your wallet is someone else's IOU. If all debts were paid back currency would cease to exist.

It's a complicated concept, but basically the banks are allowed to create money any time they issue a loan. The idea is summed up well by Robert Hemphill, a former credit manager of the Federal Reserve.

>If all the bank loans were paid, no one could have a bank deposit, and there would not be a dollar of coin or currency in circulation. This is a staggering thought. We are completely dependent on the commercial banks. Someone has to borrow every dollar we have in circulation, cash, or credit. If the banks create ample synthetic money we are prosperous; if not, we starve. We are absolutely without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless situation is almost incredible — but there it is.3

You can read more about this in The Creature from Jekyll Island by Edward Griffin

by goldenkey   2017-08-20
Please dont post affiliate links on HN, especially shortlinks intended to hide the actual tagged URL. You won't go far here doing so.

Untracked URL:

by nateabele   2017-08-19
> They're not really growth curves, the curves show relative growth rates. Not quite the same thing.

An exponential growth curve is an exponential growth curve, irrespective of what it measures. Thanks anyway for the pedantry.

> And if you think some central mechanism has gone horribly awry, what central mechanisms changed around 1980?

In 1974, the US dollar switched from being a store of value to a store of debt: