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Chris Temple weighs in on the question of “would a free market be better than the manipulation that is currently in existence?”

Big Al
June 24, 2015

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Would we be better off today with Adam Smith’s “invisible hand” in charge instead of the Federal Reserve Bank?

Discussion
56 Comments
    Jun 24, 2015 24:41 AM

    bless you………….

      Jun 24, 2015 24:04 AM

      Bless who, Indiana?

    Jun 24, 2015 24:42 AM

    G. Edward Griffin would best reply to this question.

    Jun 24, 2015 24:47 AM

    …………….TWO HEADED SNAKE NEEDS TO GO………

    Jun 24, 2015 24:52 AM

    Please bring Ron Paul.
    “Thus far the Russian response has been incredibly restrained, but that may not last forever. Continued economic pressure from the West may very well necessitate a Sino-Russian monetary arrangement that will eventually dethrone the dollar. The end result of this needless bullying by the United States will hasten the one thing Washington fears the most: a world monetary system in which the US has no say and the dollar is relegated to playing second fiddle. ”

    http://www.ronpaulinstitute.org/archives/featured-articles/2015/june/21/will-seizure-of-russian-assets-hasten-dollar-decline/

      Jun 24, 2015 24:08 AM

      This one be a good topic for Jeff Deist, actually.

      We will call him.

    Jun 24, 2015 24:55 AM

    4% on 18.3 trillion= $732 Billion.

      Jun 24, 2015 24:31 AM

      How long can they keep interest rates artificially low? If interest rates even return to half their normal rate it’s lights out for this economy.

    Jun 24, 2015 24:04 AM

    Pelosi and Boehner are both the same breed of everything wrong with Washington, D.C. They should elope together to France living out the retirements on bribes and get out of the country they’ve done a good job ruining.

    CFS
    Jun 24, 2015 24:12 AM

    We are living in the end days of democracy.I don’t blame the Fed. It was never intended to control the whole economy, since it can only increase or decrease the money supply.

    Economies are supposed to be controlled by politicians; the people that make the laws.

    I knew that sooner or later democracies usually fail. Usually when the vote for themselves too much largess from the public purse; what is often referred to as socialism.
    This time it is failing because of the corrupt nature of the so-called leaders of both parties in Congress, whose primary goal is self-enrichment and continuation of their power.
    This, of course, is aided by a president who appears to be hell-bent on destroying the U.S. as we know it.
    We need a revolution!

      Jun 24, 2015 24:26 AM

      Since it can “ONLY” increase or decrease the money supply?

      The Fed has been instrumental in the takeover of the economy by an elite few. Large, connected entities, public and private, have thrived at the expense of everyone else thanks to the Fed.

      Jun 24, 2015 24:15 AM

      Good point, Professor!

    Jun 24, 2015 24:17 AM

    This is a country run by criminals.

      Jun 24, 2015 24:20 AM

      that is a low blow to the criminals………..I am not sure they should rank so high..

    Jun 24, 2015 24:21 AM

    You can trust your allies …

    Hollande calls for proof Obama kept his vow on surveillance after 2013 revelations …
    The proof was on Hillary’s email server :).

      Jun 24, 2015 24:16 AM

      That surprised me a lot actually, Gabriel!

    Jun 24, 2015 24:24 AM

    “Some people think that the Federal Reserve Banks are United States Government institutions. They are private monopolies which prey upon the people of these United States for the benefit of themselves and their foreign customers; foreign and domestic speculators and swindlers; and rich and predatory money lenders.”
    – The Honorable Louis McFadden, Chairman of the House Banking and Currency Committee in the 1930s

    So let’s review:

    1. The Fed is privately owned.

    Its shareholders are private banks. In fact, 100% of its shareholders are private banks. None of its stock is owned by the government.
    2. The fact that the Fed does not get “appropriations” from Congress basically means that it gets its money from Congress without congressional approval, by engaging in “open market operations.”
    3. The Fed generates profits for its shareholders.
    http://www.globalresearch.ca/who-owns-the-federal-reserve/10489

      Jun 24, 2015 24:30 AM

      You might want to send that to the members of congress………..and the newbees……..

        Jun 24, 2015 24:17 AM

        You would also have to read it to them!

    Jun 24, 2015 24:38 AM

    “Mr. Chairman, we have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal Reserve banks. The Federal Reserve Board, a Government board, has cheated the Government of the United States out of enough money to pay the national debt. The depredations and the iniquities of the Federal Reserve Board and the Federal Reserve banks acting together have cost this country enough money to pay the national debt several times over. This evil institution has impoverished and ruined the people of the United States, has bankrupted itself, and has practically bankrupted our Government. It has done this through defects of the law under which it operates, through the maladministration of that law by the Federal Reserve Board, and through the corrupt practices of the moneyed vultures who control it.” Louis T. McFadden

    https://dandelionsalad.wordpress.com/2008/07/21/louis-t-mcfadden-1876-1936-an-american-hero-by-richard-c-cook/
    “From the Atlantic to the Pacific our country has been ravaged and laid waste by the evil practices of the Federal Reserve Board and the Federal Reserve banks and the interests which control them … This is an era of economic misery, and for the conditions that caused that misery, the Federal Reserve Board and the Federal Reserve banks are fully liable.”

      Jun 24, 2015 24:56 AM

      nice post…………………..j

      Jun 24, 2015 24:13 AM

      Good quotes and the sad reality of the beast from Jeckyll Island.

        Jun 24, 2015 24:42 PM

        I posted Edward Griffin’s interview video and article from USA Watchdog up above at the top of this blog. The interview was very interesting and Mr Griffin made some great points.

    Jun 24, 2015 24:10 AM

    The actions of the central banks trying to prop up a doomed system reminds me of our leadership in the Vietnam era, particularly the military leadership. Their metrics of what it took to ‘win’ were cock-eyed. Bombs dropped, sorties flown, bodies counted and buried, artillery shells expended all showed we had to be winning……………yet in the recesses of their minds they knew we weren’t. There were some new rules in the game and we were unwilling to learn them. The old answers and applications didn’t work any longer. However, if what you believed would eventually win, then we must not be doing enough. They increased all the numbers, to no avail and things didn’t change. Finally, they threw up their hands and went home.
    The Central bank’s old game rules don’t work any longer and they have the same dilemma. I guess the main questions then becomes: What do they do now since they can’t simply throw up their arms and go home? Many think the ‘markets’ will force new rules on them……..What then???

    Jun 24, 2015 24:35 AM

    OffTopic :
    Nice write ups in the Resource World Magazine.
    1. GCU.V Gold Canyon Resources. Largest undeveloped gold resource in Canada owned by a junior.
    2.CFO.V Clifton Star Resources. Cashed up companies worth watching.
    3.NXT.V Natcore Technology. New Discovery Promises Record Setting Solar Power Output at No Additional Cost.

      Jun 24, 2015 24:09 AM

      Thanks, John K

      Jun 24, 2015 24:14 AM

      John K, I could not find these write-ups. Do you have a link?

      Thanks

    Jun 24, 2015 24:35 AM

    Another agreement in the pipeline and marked for “fastrack”. This agreement known as TISA, which is the trade in services agreement covers 80% of the American economy and all sorts of services, including financial services, which means banking. Does this mean we can’t regulate banking anymore? Here is a link to the article.
    http://usawatchdog.com/we-dont-know-how-bad-secret-obama-trade-deal-really-is-ellen-brown/

    Jun 24, 2015 24:00 PM

    The invisible hand belongs to the invincible, immutable, infinite, indefatigable, immense God of the Bible. Praise Him!

    Jun 24, 2015 24:43 PM

    AMEN Wayne, Amen!!

    Jun 24, 2015 24:51 PM

    QE forever. Gonna be 20 years before we see 1% rates.

    Jun 24, 2015 24:13 PM

    Chris, I believe you are spot right-on. And Al, you are so right to call the situation “sad.”

    bj
    Jun 25, 2015 25:59 AM

    The question of free markets is a multidimensional, where the two most obvious dimensions are Main Street and Wall Street–but there are also global aspects to the question which will remain silent in this post..

    On Main street a free market economy exists when labor and capital compete from profits and governments only role is to ensure honest dealings among competing parties. To the right of that is fascism, where corporations control the government by owning and operating those who work for the government. To the left is communism, where the government owns the corporations. In both cases the plebes are screwed.

    On Wall Street, free markets enable capital formation as venture capitalists risk their money to build a company hoping for a net profit their venture. Beyond that is a corrupt market of crony capitalists who profit primarily from the largess of government and also front running honest investors while manipulating markets for profit via derivatives due to their enormous size and the availability of liquidity. And when things go bad, they get bailed out by the taxpayers and everyday people either directly or indirectly. In short, crony capitalists have very little interest in capital formation for the growth of an economy as envisioned by Adam Smith; instead they privatize their profits; socialize the loses as they churn the markets to skim the cream of the top. Here again, the plebes are screwed.

    So back to the topic question: Yes, everyone but a very few power elite be better off with free markets instead of what’s going on today? Of course, even the power elite would do well, just not any better than now because it’s as good as it gets for organized crime both on Main Street and Wall Street.