T
Tom Sherman
Guest
Peter Cole wrote:
> Tom Sherman wrote:
>
>> The Federal Reserve and other similar banks were created to take
>> control of the economy from the elected representatives of the people
>> (or other political leadership) and put in the hands of a few hundred
>> fantastically wealthy people.
>
> Actually, The Federal Reserve* was created to solve the problem of bank
> runs ("panics"). Hence, Friedman's expressed bewilderment over why they
> didn't act to do so in the Great Depression.
>
That may be the official explanation.
Some of the elites made out very well during the Great Depression,
buying assets for pennies on the dollar.
This pattern has been repeated with IMF/World Bank engineered financial
crises, when the assets in a country are devalued, bought by foreign
investors, and THEN the imposed "austerity" measures that led to the
economic depression are lifted.
>
> *"Progressive Democrats instead favored a reserve system owned and
> operated by the government and out of control of the "money trust",
> ending Wall Street's control of American currency supply. Conservative
> Democrats fought for a privately owned, yet decentralized, reserve
> system, which would still be free of Wall Street's control. The Federal
> Reserve Act passed Congress in late 1913 on a mostly partisan basis,
> with most Democrats in support and most Republicans against it."
>
> http://www.cooperativeindividualism.org/aier_on_conspiracy_04.html
There is no contradiction between what is reported there and what the
real agenda of those lobbying Congress behind the scenes was.
--
Tom Sherman - Holstein-Friesland Bovinia
The weather is here, wish you were beautiful
> Tom Sherman wrote:
>
>> The Federal Reserve and other similar banks were created to take
>> control of the economy from the elected representatives of the people
>> (or other political leadership) and put in the hands of a few hundred
>> fantastically wealthy people.
>
> Actually, The Federal Reserve* was created to solve the problem of bank
> runs ("panics"). Hence, Friedman's expressed bewilderment over why they
> didn't act to do so in the Great Depression.
>
That may be the official explanation.
Some of the elites made out very well during the Great Depression,
buying assets for pennies on the dollar.
This pattern has been repeated with IMF/World Bank engineered financial
crises, when the assets in a country are devalued, bought by foreign
investors, and THEN the imposed "austerity" measures that led to the
economic depression are lifted.
>
> *"Progressive Democrats instead favored a reserve system owned and
> operated by the government and out of control of the "money trust",
> ending Wall Street's control of American currency supply. Conservative
> Democrats fought for a privately owned, yet decentralized, reserve
> system, which would still be free of Wall Street's control. The Federal
> Reserve Act passed Congress in late 1913 on a mostly partisan basis,
> with most Democrats in support and most Republicans against it."
>
> http://www.cooperativeindividualism.org/aier_on_conspiracy_04.html
There is no contradiction between what is reported there and what the
real agenda of those lobbying Congress behind the scenes was.
--
Tom Sherman - Holstein-Friesland Bovinia
The weather is here, wish you were beautiful