Comments on: Legislation To Prevent The Need Of Bailouts

By: qs

qs — Sun, 08 Nov 2009 06:30:01 +0000

So ya fractional Reserve banking itself is kind of the problem.

Whether we go back to open banking or switch to closed banking are the two solutions.

By: qs

qs — Sun, 08 Nov 2009 05:43:52 +0000

There really wasn’t much of a business cycle before the Federal Reserve. There was at least some degree of the business cycle though because the banks still only kept about 3-5% reserves. Back then though we still had bank runs, and banks still had the ability to issue their own banks notes so these banks were not immune to currency flow.

That business cycle was nothing like to day. We Fed spent over 22 trillion in bailouts to keep the economy a float, and these bailouts are only going to get worse in the future.

By: ITimes

ITimes — Sun, 08 Nov 2009 04:08:51 +0000

If the Federal Reserve causes business cycles, what caused business cycles before it was established?

By: qs

qs — Sun, 08 Nov 2009 01:53:00 +0000

Because the Federal Reserve causes the business cycle. Inflation is also government-endorsed fraud.

It’s another way for government to steal money from the people.

By: Ralph

Ralph — Sat, 07 Nov 2009 10:52:20 +0000

How would doing away with the Fed and the FDIC prevent the failure of “too big to fail” companies?

By: qs

qs — Fri, 06 Nov 2009 23:32:48 +0000

I would not support it because I don’t support breaking companies up.

What I do support is auditing the Fed. We need to do away with the Federal Reserve and the FDIC and fractional reserve banking.