END THE FED RALLY, IN PHILADELPHIA

[twoguns]

Here is a link to the site:

http://endthefedusa.ning.com/events

END THE FED RALLY
November 20,2010
11AM

For any folks not familiar with the devastation the FED has wrought upon our nation, please go read THE CREATURE FROM JEKYLL ISLAND
by G. Edward Griffin

Do you think that the latest round of QE (quantitative easing =theft through inflation) is anything but disastrous? Creating more debt to pay debt is insanity! The Federal Reserve Banking Cartel is at the root of what is killing
America.

Now is the time!

END THE FED.

[andrewjs18]

I'll be there.

[tsafa]

I would like to suggest a proposal to replace the Fed Board members with the Governors of each state. A 2/3 vote would be required to change the money supply or change interest rates.

The Fed is suppose to be an Inflation fighter an they are not doing their job well at all. Changing the way CPI is measured is gimick to make them look good. Inflation is best measured by tracking the commodities index.

[phillykev]

There cannot be runaway inflation without full employment.

For those unfamiliar with Keynesian economic theory you should read "Keynes: The Return of the Master" for a good eplanation of why Keynesian response to the current economic crisis is the proper path to follow.

If you have read that, you understand the IS/LM model and how it relates to QE, and you still think the Fed is wrong, well, I respect your opinion. If not, then your opinion is more than likely based on fear mongering from pundits and you should probably understand what you're protesting before you protest it.

[tsafa]

There cannot be runaway inflation without full employment.

You do not need runaway inflation to have instability. I remember back in 2000 when unemployment was below 5% I would go out on interviews and get 5 job offers and then start playing the offers against each other just to see how big a "number" I could score. I would take a job and in a few months start the game all over again just for kicks. At the same time I was in a position of hiring people for those companies, so I had subordinates playing the same games on me. The situation created a great deal of instability and a lot of waste as employees kept moving around. The Dot Com bubble burst set things right and created some stability. The Dot Com era was about hype, not productivity.

The Fed Reserve has not been doing its job. The Fed's job should be to fight inflation... period. Not to favor any particular industry over another or force a boom economy, that will inevitably crash (like housing), they should just be maintaining a stable monetary system. It is clear to me that the Fed Reserve has become too attached the the executive branch and has been so since the Clinton era. Replacing the Fed Res members with the state governors who are not subject to appointment by the President and approval by the Congress, as I mentioned in my earlier post, would restore independence to the Federal Reserve System. It would also give the states a means to control the budget of the Federal Government.


I do not think we should dump the Federal Reserve System because there is no system that could take its place and scale to a growing economy. The system is ingenious... the problem is that is has been abused by uncontrolled money creation backed by debt. The national debt mostly represents all the newly created money. Every new dollar is borrowed into existence.

Businessmen, have already figured out that the Government is way beyond "Tax and Spend"... even beyond "borrow and spend" they are well into "print and spend". Bussinesmen for a long time have made it their priority to stay ahead of the governments money printing tactics by constantly raising prices. Consumers realize with with common sayings such as "prices are always going up". Yes, they are, because things have been at the point for a long time now that they are more worried about the staying ahead of the inflation curve then they are about being cheaper then their competition.

Don't look at the CPI index to judge inflation, the CPI is a very manipulated number. Look at the plain old commodities index.

http://www.mrci.com/client/crb.php

When you look at the commodities chard you think you are seeing the price of goods going up. False. The price of goods does not go up unless there is a shortage. In an index chart any real shortages in one or two goods would be smoothed out by averaging. Instead what you are seeing in the charts is the value of the dollar going down as they print more of it. Simple supply and demand rules apply to money too.

Money printing is just another form or taxation as the government erodes our savings. It is a very sneaky from in "income redistribution" too as the government gets to pick where the newly printed money will be spent.

Part of the problem here is the the Government has spoiled people into expecting boom economies fueled by artificial money printing. People feel richer but don't realize that the extra money they have is just inflationary money that buys less. The Fed Reserve needs to stop printing money and just tell the people to expect the economy to muddle along as it is for a very long time.

[andrewjs18]

There cannot be runaway inflation without full employment.

For those unfamiliar with Keynesian economic theory you should read "Keynes: The Return of the Master" for a good eplanation of why Keynesian response to the current economic crisis is the proper path to follow.

If you have read that, you understand the IS/LM model and how it relates to QE, and you still think the Fed is wrong, well, I respect your opinion. If not, then your opinion is more than likely based on fear mongering from pundits and you should probably understand what you're protesting before you protest it.

oh? if the Keynesian economic theory is such a good way to go, then do tell me why we're in such sad economic ruins?

why does Paul Krugman absolutely REFUSE to debate Robert Murphy who is a Mises scholar and preaches the Austrian economics theory? Murphy has pledged $100,000 to a NYC shelter IF Krugman debates. so not only does Krugman KNOW that Keynes theory is absolute GARBAGE, he's unwilling to actually admit it. that's pretty sad considering $100K is on the line to help feed the poor.

why is it that Keynesians think that bailouts work?

why is it that Keynesians think increasing spending by either printing money or directly buying assets works?

do I need to go on?

[twoguns]

More kudos to you, Andrew!

"The accepted version of history is that the Federal Reserve was created to stabilize our economy....Even the most naive student must sense a grave contradiction between his cherished view and the systems actual performance. Since its inception, it has presided over the crashes of 1921, and 1929; the Great Depression of '29 to '39; recessions in '53, '57, '69, '75, and '81; a stock market "Black Monday" in '87; and 1000% inflation which has destroyed 90% of the dollars purchasing power." From THE CREATURE FROM JEKYLL ISLAND by G. Edward Griffin

Apparently the other posters with a contrary view have been drinking the Kool-Aid!

END THE FED!
America needs lawful money and honest banking.

[Elmar]

There cannot be runaway inflation without full employment.

For those unfamiliar with Keynesian economic theory you should read "Keynes: The Return of the Master" for a good eplanation of why Keynesian response to the current economic crisis is the proper path to follow.

If you have read that, you understand the IS/LM model and how it relates to QE, and you still think the Fed is wrong, well, I respect your opinion. If not, then your opinion is more than likely based on fear mongering from pundits and you should probably understand what you're protesting before you protest it.

You're defining inflation as a rise in prices which is actually a symptom of inflation which is an increase in the money supply.

Of course I suppose to you Zimbabwe has full employment?

[Elmar]

There cannot be runaway inflation without full employment.

For those unfamiliar with Keynesian economic theory you should read "Keynes: The Return of the Master" for a good eplanation of why Keynesian response to the current economic crisis is the proper path to follow.

If you have read that, you understand the IS/LM model and how it relates to QE, and you still think the Fed is wrong, well, I respect your opinion. If not, then your opinion is more than likely based on fear mongering from pundits and you should probably understand what you're protesting before you protest it.

Have you read Rothbard's "America's Great Depression", or even Bohm-Bawerk's "Capital and interest", just wondering because you're already using a deceptive definition for inflation.

[Elmar]

The issue I had with the rally was that our message wasn't focused.

I was talking to one of the bartenders back at the bar and asked her if she knew what the demonstration was about and she thought it was a Ron Paul rally. We need to stay on message and that means not diluting it. We also need to target the average person's knowledge which means attacking emotionally to get them to think and then we can get into rational reasons.

"The Federal Reserve makes it harder for you to feed your families every year" - thats a good slogan.

"The Fed prevents the poor from moving up" - it does.

The Fed makes it hard for working families to save." - also true.

These are emotionally ploys which are effective in getting people to listen to the message, once they listen then we explain. Many of the signs I saw were to cerebral for the average person. Hell most people think Fed just means Federal Government.