why End the Fed? A misplaced libertarian argument

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hey all - I'm a big fan of the Occupy movement. I went down to City Hall during Ciclavia and saw first hand what you guys are doing and your work is essential!!

I have read some press accounts that include some of the End the Fed movement, which I believe is the influence of the Ron Paul followers.  I can't follow this argument, and I wanted to see if anyone could help me out.  My understanding of the Fed is that it is an innovation and is superior to the gold standard, that if used appropriately, can lift everyone's economic plight.  A quick and easy primer is by Paul Krugman, about baby-sitting co-ops (it's an extended analogy, but very helpful!):

http://pkarchive.org/theory/baby.html

Solidarity,

Decoder303

 

Seth Spinolla's picture

Money As Debt and Slavery? (3 of 5)

"Corrupt Banking System"
This highly informative and easy to understand film covers just about everything that isn't taught in school regarding the corrupt banking system. It explains how these institutions get away with robbing the unsuspecting public by creating monetary policies designed to enslave society, while keeping the system in a perpetual state of debt.

http://www.youtube.com/watch?v=L5vqtLEv0gQ

Without free speech no search for the truth is possible, no discovery of truth is useful. Better a thousandfold abuse of speech than denial. The abuse dies in a day, but the denial slays the life of the people, and entombs the hope of the race.

Mahayana's picture

Much appreciated

Thanks Seth for all of the great links and information. :)

The legitimate object of government, is to do for a community of people, whatever they need to have done, but can not do, at all, or can not, so well do, for themselves - in their separate, and individual capacities. -Abe

Fex's picture

Seth, make this vid it's own post

Simple, to the point, easy to understand. Seriously I think the vid you link to deserves it's own forum topic if nothing else to give it more visibility to others. Heh would be cool if they played it on the large screen on the city hall lawn.

"Word following word- I wrought words. Deed following deed, I wrought deeds." - The Havamal

alhs06's picture

Another great one Seth

Very good, I'm still running it through my Spidy Senses to make sure I agree with all of it or just most of it?

Still anything designed to make you think through education & not trick through propaganda is worth the study. Although the study of propaganda, cautiously, does have it's own merit's.

BTW, IMO this film is of the educational value, to be clear.

My picture reads

"Sell a man a fish and you feed him for a day. Teach him how to fish and you ruin a perfectly good business opportunity."

The 1% philosophy

Weekend Warrior's picture

What are End the Fed Libertarians

     These guys are extremist right-wingers who want to go back beyond the 18th century and establish a laissez-faire system based on the gold standard.  Please do not confuse them with legitimate progressives, like Bernie Sanders, who want to replace the Fed with a Public Banking and Monetary system that is not controlled by the banks. 

     If you point out to these child-like faithful of the holy "invisible hand" that there have been innumerable failures of capitalism in history from time immemorial, they will invariably tell you "that was not really capitalism, it was crony capitalism." It was always one of the thousands of governments since the dawn of time that breathed upon a merchant somewhere to cause each and every instance of capitalist disaster through the ages. They can't explain, however, why unrestrained capitalism has never failed to turned in into crony capitalism, and quite often fascism, since the time of Hammurabi.

     Some of them crazily believe that the Fed is part of an age old conspiracy of freemason bankers (many of whom are Jewish) of the ORDER OF THE ILLUMINATI, who secretly control the world through the Trilateral Commission and the Council on Foreign Relations.  The object of this conspiracy: to create a communist world government controlled by the Bankers (again, many of whom are Jewish) who want to make us their serfs.   End the Fed is a little to the right of the John Birch Society.  Anti-Illumati types like these were big in Germany in the 1930s. Speaking of Nazis, Glen Beck loves these End the Fed guys. Also note they are well financed with Koch brother money.

     Beware.  End the Feders like to masquerade as leftist anti-banksters.  Their very name is a disguise for Republican, Ron Paul's agenda.  They are radical alright--radical rightist who want to abolish all remnants of the New Deal and forget the messages of the Roosevelts, Kennedys, and Kings. They want a limited government--i.e. limited to a police state devoted to smashing unions or anyone else who might challege capitalist property rights. They think big business is taxed and regulated too much.

     Really, these guys would do better if OWS ended.  That way their same old Libertarian narrative, which has dominated the USA since Reagan, could reassert itself the minute OWS went away.

       Tell these guys bugger off to a tea party demonstration in the O.C..  They have Fox News, right-wing nutbag talk-radio, and all the money in the world to drown us out.   At OWS, however, it's finally the left's turn to talk, and they want to dilute our message by claiming they are with us and demanding inclusion.  They want to steal the OWS narrative for the right.  They are a fraud.  

Fex's picture

Uh huh

That is some closed off craziness my friend.

Can you actually talk about the topic of the Fed itself? Saying "end the Fed is crazy Libertarian Ran Paul republican talk" is not discussing if ending the Fed is a good idea or not, it's dismissing the discussion and is a cop out.

Several people have suggested in these forums ending the Fed and with a myriad of solutions for afterward. Yes free market private banks was one idea brought up, another was government control of central banking, and I do believe public shared banking was brought up as well. I myself am almost for a system of all three if I could see how it would effectively be pulled off (central gov bank for stability and a hopefully consistent currencly, private and public banks allowed as well because why not allow people to form them so long as they are not monopolized and are not buying off politicians or in some other way interfering with our government/representation - yes of course with regulation no system should be above the law).

I do not see this movement as leftist or rightist. I see it as fixing a system that is broken. And if you want to simply turn a blind eye to the Fed without a serious discussion, I find that preposterious. This movement is called Occupy Wall Street. A huge portion of what this movement has been protesting are our banks, many of whom are part of the Fed system and must follow the Fed's rules. Discussing the Fed leads to more knowledge about how our current situation occured and perhaps how and why banks seem to have so much influence in politics.

So, is the Fed a problem. Why or why not?

"Word following word- I wrought words. Deed following deed, I wrought deeds." - The Havamal

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