There Is Something Inherently Wrong About The Financial System Of The World

Waterstpub87 · 05-15-12, 03:00 PM

They should all exit the euro. Germany and other fiscally sane countries shouldn't be forced to bailout governments that choose to be irresponsible.

Sam Odom · 05-15-12, 03:10 PM

In financial theory how is Greece different than USA ?

milwaukee mike · 05-15-12, 03:12 PM

great points philly flyers

no country that's been around hundreds of years should be in debt

shows you who runs the world and it ain't the governments (federal reserve/world bank/etc)

only reason for war is to line bankers' pockets and keep expanding the money supply

TheCentaur · 05-15-12, 04:11 PM

For many years usury was illegal. Now it's what runs the world.

Maybe this isn't the total solution but how about people and governments only spend what they have. Also, instead of huge consumer debt for houses and cars etc. maybe employers supply these things for reduced labor costs and cut out these banks. I realize that through corporate vehicles, medical benefits, etc it is already done to an extent but it could be expanded. I'm sure there are some holes in this so let me know.

rkelly110 · 05-15-12, 05:31 PM

It is up to us individually. Pay off what you can. Pay cash for your purchases.
Pay off your credit purchases every month. Save like hell. Buy your countries products.

The days of living lavishly are coming to an end. Prepare.

Shaudius · 05-15-12, 09:13 PM

Originally posted by Sam Odom

In financial theory how is Greece different than USA ?

Fiat currency. Greece can't print its own money. The power to print your own currency is an important one and one which the nations of Europe never should have given up without giving up much more sovereignty than they did. Its important that it doesn't have its own method of printing money because it means it has to rely on being bailed out by the ECB. As I've said in other threads, austerity doesn't fix economies, but Greece has been forced into austerity which will just keep them down, unless they exit the Eurozone.

Shaudius · 05-15-12, 09:16 PM

Originally posted by rkelly110

It is up to us individually. Pay off what you can. Pay cash for your purchases.
Pay off your credit purchases every month. Save like hell. Buy your countries products.

The days of living lavishly are coming to an end. Prepare.

Those things are all still denominated in the currency of your chosen country. Much better advice is to diversify your investments in things that aren't currency, or in other currencies. The Bank of China is finally letting foreign investors hold Chinese currency. They have a branch in New York, one in San Francisco, and I belief another just opened in Chicago. I think the limit is something like $6,500, which isn't a ton, but its a decent investment since China is finally allowing their currency to float, and it diversifies risk in case a fiat currency like the US dollar tanks.

ShawNee922 · 05-15-12, 09:23 PM

Originally posted by milwaukee mike

great points philly flyers

only reason for war is to line bankers' pockets and keep expanding the money supply

On the contrary..
Earth is a war economy ... Money just fuels it ...

NYSportsGuy210 · 05-16-12, 10:14 AM

Read a Macro 101 book and understand the basics please. I agree with the title of the post because their a lot of loop holes and corruption in various financial sectors as is. These people are taking full advantage of an "imperfect" system.

The concept of the Euro was doomed to fail since its inception because of the fact that different cultures with different identities and ways of spending could never come together under one currency system. It is simply impossible.

Also in this country, and now in most economies, you need currency to continue to grow and circulate for a capitalistic economy to work. USA is at a point where wealth is too unevenly distributed and both the poor and the rich have stopped circulating the wealth....instead are just holding it in their savings accounts.

This is understandable for the poor, who need to save. But is is not feasible for the rich. Higher taxes for higher wages need to be created.

PhillyFlyers · 05-16-12, 11:05 AM

Originally posted by NYSportsGuy210

Also in this country, and now in most economies, you need currency to continue to grow and circulate for a capitalistic economy to work. USA is at a point where wealth is too unevenly distributed and both the poor and the rich have stopped circulating the wealth....instead are just holding it in their savings accounts.

The problem is that countries do not control their own money anymore.

They have to go to central banks.

If someone, anyone, controls your money, they control you.

Greece is burning right now and there is no one lifting a finger to help them.

BigdaddyQH · 05-16-12, 12:33 PM

The advent of the Euro was suppose to force the Supernation of Europe to be developed. It did not work. It was a terrible system going in. It is the same thing as having 50 States print their own currency and then all of a sudden have some central bank take all of those currencies over and issue their own.

This still doe NOT excuse the people who do not know how to profit by this. I see a lot of whiners in here, especially Ron Paul supporters. The facts are these. The STRONG survive in this world, not the whiners. It is YOUR responsibility to guarantee your survival. If you cannot do that, you get what you pay for.

Ghenghis Kahn · 05-16-12, 12:43 PM

Originally posted by Sam Odom

In financial theory how is Greece different than USA ?

this. why are you bringing up other countries when we are in the same boat. do you think the federal reserve is part of our government? you don't think these greedy bankers got together and planned all this shit centuries ago?

TheMoneyShot · 05-16-12, 12:48 PM

Originally posted by milwaukee mike

great points philly flyers

no country that's been around hundreds of years should be in debt

shows you who runs the world and it ain't the governments (federal reserve/world bank/etc)

only reason for war is to line bankers' pockets and keep expanding the money supply

Technically MM it's the guy who's running the territory and asking for the money to be loaned. Everyone is accountable. But the guy who signs the docs... that's his choice. This all started by borrowing loans... on TOP OF LOANS. Yes this includes other countries. In 5 more years... you will have a wealthy class... and a poor class. There won't be an in between.

TheMoneyShot · 05-16-12, 12:50 PM

People are addicting to borrowing!!! People borrow (loan) SBR points for god sake. It's in our blood to borrow.

itchypickle · 05-16-12, 01:05 PM

Sure, let's just borrow and spend and repeat, then choose flawed investments on too good to be true returns and false lower interest rates that later balloon to make payments impossible.....but yes it's all the banks fault and not the politicians and citizenry.

tony_come · 05-16-12, 01:46 PM

Is facebook worth that much?

Imo NO!

TheMoneyShot · 05-16-12, 01:47 PM

Originally posted by tony_come

Is facebook worth that much?

Imo NO!

We always believe our businesses are worth more than they really are. Everything peaks... then falls. If I was the owner of FB... I'd sell right now and get the F out of Dodge with the dough.

Sam Odom · 05-16-12, 01:50 PM

Originally posted by Shaudius

Fiat currency. Greece can't print its own money.

technically yes , The dept of treasury 'prints' the bills - But the 'money' is a loan from Fed Reserve <---- a PRIVATE Institution

Shaudius · 05-17-12, 07:47 PM

Originally posted by Sam Odom

technically yes , The dept of treasury 'prints' the bills - But the 'money' is a loan from Fed Reserve <---- a PRIVATE Institution

To call the federal reserve a private institution is at best a half truth. While it is true that parts of the federal reserve are private, the group decides US financial policy is best describes as a private/public one in which the public members are sufficient in number to be able to outvote the private members in consensus forming.

This group is the Federal Open Market Committee, which is made up of the seven members of the Federal Reserve Board(there are currently 2 vacancies in this group) and five rotating members of the 12 federal reserve banks. The Federal Reserve Board is a federal agency whose members must be appointed by the President and confirmed with the advise and consent of the Senate.

So to call a group that is 7-5 federally confirmed officials a private institution doesn't tell nearly the whole story.

Sam Odom · 05-17-12, 07:59 PM

just listen to this and then decide 'what' the Fed Res is...

Shaudius · 05-17-12, 08:34 PM

Originally posted by Sam Odom

just listen to this and then decide 'what' the Fed Res is...

Listen to the end of the video. "We're going to introduce legislation today to demand that you do that." If the Federal Reserve was this private institution as you supposed, Congress would have real constitutional issues on their hands demanding the release of a specific entities records by enacting a law.

What Bernie Sanders doesn't tell you also is that he could subpoena those records without passing a law, but unless and until he does, the federal reserve is under no obligation to release them, just as no government entity or private citizen is obligated to respond to Congressional inquire except under subpoena.

Sam Odom · 05-17-12, 08:42 PM

Shadius , you are slipping a bit here...

i respect your posts/opinions (whatever that means to you)

your point would be valid if Congress had no power over pvt businesses like Bankk of America or Big Oil or Big Tobacco... we know congress does so new legislation to 'force' the Fed to do anything is not proof of the Feds standing

Shaudius · 05-17-12, 08:50 PM

Originally posted by Sam Odom

Shadius , you are slipping a bit here...

i respect your posts/opinions (whatever that means to you)

your point would be valid if Congress had no power over pvt businesses like Bankk of America or Big Oil or Big Tobacco... we know congress does so new legislation to 'force' the Fed to do anything is not proof of the Feds standing

The second two groups are not the same as the first entity you mentioned(BkofAma, Big Oil, Big Tobacco, respectively). The federal government would be on shaking constitutional ground enacting harmful legislation directly on BkofAma. On the other hand, the federal government can write legislation regarding industries with little to no problem. One can make the very solid argument that an act of Congress that deprives, denies, or punishes someone(or entity) of something specifically(or subjects them to punishment for non-compliance) is a bill of attainder, which is unconstitutional unless very specific standards are met(arguably it also violates the 5th amendment's takings clause depending on whether or not just compensation is paid). I don't want to go too much into the constitutional law behind the thing, but there's a world of difference between compelling a government or quasi-government entity(which the fed is since its a private/public hybrid entity) to do something and compelling a specific individual or company. Which is the telling part of the end of Bernie Sander's questioning during Bernanke's testimony.

Sam Odom · 05-17-12, 08:55 PM

Let us Compromise ...

Fed = Quasi-Private/Govt institution

Shaudius · 05-17-12, 09:02 PM

Originally posted by Sam Odom

Let us Compromise ...

Fed = Quasi-Private/Govt institution

Yes, exactly. And as such, the federal government, if it so chose, could take away power from the Fed, abolish it(as some suggest) or change the way in which it operates. But also as such, the Fed is effectively controlled by the will of Congress, the central bank is a quasi-arm of the state because that is what the state so chooses.

Sam Odom · 05-17-12, 09:08 PM

without getting too far into the New World Order & Black helicopters

The Fed aint going nowhere and the Chairman will continue to say 'no' to congress if it suits his fancy

too many people getting richer off of the fractional reserve system

PhillyFlyers · 05-19-12, 05:17 PM

Originally posted by Sam Odom

without getting too far into the New World Order & Black helicopters

The Fed aint going nowhere and the Chairman will continue to say 'no' to congress if it suits his fancy

too many people getting richer off of the fractional reserve system

So remind me again why Ron Paul shouldn't be president?

Waterstpub87 · 05-19-12, 05:54 PM

Originally posted by PhillyFlyers

So remind me again why Ron Paul shouldn't be president?

Because he won 0 primaries.

NYSportsGuy210 · 05-20-12, 05:41 PM

Originally posted by TheMoneyShot

Technically MM it's the guy who's running the territory and asking for the money to be loaned. Everyone is accountable. But the guy who signs the docs... that's his choice. This all started by borrowing loans... on TOP OF LOANS. Yes this includes other countries. In 5 more years... you will have a wealthy class... and a poor class. There won't be an in between.

In other words, what Karl Mark predicted like 300 years ago.

ChalkyDog · 05-20-12, 06:45 PM

ShawNee922 · 05-20-12, 09:14 PM

Originally posted by TheMoneyShot

Technically MM it's the guy who's running the territory and asking for the money to be loaned. Everyone is accountable. But the guy who signs the docs... that's his choice. This all started by borrowing loans... on TOP OF LOANS. Yes this includes other countries. In 5 more years... you will have a wealthy class... and a poor class. There won't be an in between.

Pretty much what Aristotle concluded over 2,000 years ago ...
Oligarchy is upon us ...

ShawNee922 · 05-20-12, 09:32 PM

Originally posted by Ghenghis Kahn

you don't think these greedy bankers got together and planned all this shit centuries ago?

Uh huh ... See "red shield" ..aka Rothschild...

And yes, Virginia, there is an Illuminati ...