Wow! This explains how our financial crisis happened to a T!

Hylander_1314 · 09-29-08, 11:13 PM

Quote:

Originally Posted by goldorak

Quote:

Originally Posted by Hylander_1314

The biggest problem is the government is getting too involved in what should be private business. Since when is the nation's economy up to the person in the oval office?! The economy isn't free to have ups and downs naturally, it is controlled by the Federal Reserve. But now we have politicians sticking their fingers into the pie, and it's a pie hardly any of them have a clue about, and it's a recipe for disaster. Man how I wish men like John Jay, Patrick Henry, Edmund Randolph,James Madison, and Samual Adams were here today. They would have the courage to set things straight again. Even though they weren't perfect.

The Economy is not a private affair. With the failing of the most important economy in the world you have political ramifications. Not only worldwide but inside the US as well.
The economy must thrive inside a series of rules, without rules you only have caos, and in the end its society that ends up paying the bill.
Because the cost of not paying is just to terribile to contemplate.
Deregulation at all costs is bull****, and having rules doesn't mean haveing a socialist or communist state.

Actually, in the United States of America, it is. Or at least it's supposed to be. This is where it all started some 90 years ago, at least in America, to go downhill.

"This Act (the Federal Reserve Act, Dec. 23rd 1913) establishes the
most gigantic trust on earth. When the President (Woodrow Wilson) signs
the Bill, the invisible government of the Monetary Power will be
legalised... The worst legislative crime of the ages is perpetrated
by this banking and currency Bill." Congressman Charles A. Lindberg Sr.

This is a good read too: http://www.yamaguchy.netfirms.com/78...ndb_index.html

And here is what Woodrow Wilson said after signing the Federal Reserve Act into law:

"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men." -Woodrow Wilson, after signing the Federal Reserve into existence