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Old 11-03-2011, 03:28 PM
  #6  
TonyWilliams
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Originally Posted by jungle View Post
#3 The Federal Reserve made $16.1 trillion in secret loans to their friends during the last financial crisis.

#2 The Federal Reserve is a perpetual debt machine. Today, the U.S. national debt is more than 4700 times larger than it was when the Federal Reserve was created back in 1913.
I'd be interested to see the "hard" data on these assumptions. Of course, debt is greater than 1913. Let's check out the data after WW1 and WW2, adjusted for inflation.

The assumptions made with these types of statements are that today's $billion dollar a DAY war expense didn't do anything to cause debt, or that only half the folks in the USA pay fed taxes; that bad Fed Reserve bank is the all knowing problem.

If the Fed loans were "secret", why does this writer know about them? I guess, not so secret!

Here's one for the history buffs who follow the "Fed is bad" and "we need a gold standard" folks. Out of over 230 years of existence, how many of those were on a gold standard, and when?
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