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The name of the Atlanta Federal Reserve Conference: 'A Return to Jekyll Island: The Origins, History, and Future of the Federal Reserve'
Its funny because some time ago, anyone saying that the Federal Reserve was created at a secret meeting of bankers at the Jekyll Island in 1910 was labeled a conspiracist.
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So, how is this supposed to work? (/me does not facebook)
I don't think many people will do anything with this (at least in The Netherlands).
Haven't heard anything about this on the news yet.
And you wont. The banks need some minimum requirements, and its base in the money they have. If people start removing the money in mass, they will be bankrupt. To be honest if something like that happened the government would declare some sort of "Bank hollyday" or something, but it raises awareness. |
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A 100 years later, its time to celebrate. http://www.economicpolicyjournal.com/2010/11/fed-at-jekyll-island-theyre-baaack.htmlWell isn't this cute?
Just days after the Federal Reserve will announce it has launched QE2, the Fed will hold a major conference at Jekyll Island, celebrating the secret meeting held 100 years ago that resulted in the creation of the Fed.
The island is off the coast of the U.S. state of Georgia.
In November 1910, Senator Nelson W. Aldrich and Assistant Secretary of the Treasury Department A.P. Andrews, and other top financiers,arrived at the Jekyll Island Club to discuss monetary policy and the banking system. The secret meetings led to the creation of the Federal Reserve.
Forbes magazine founder Bertie Charles Forbes wrote several years later:
...................... |
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Yeah it's true. Why bother about requiring some reserves, hum ?
I actually agree : let's abandon all this crap. Then the federal reserve will have no reason to exist, and we'll go to a free banking industry. Everybody will have the right to be his own bank : and in this scheme, I'm sure bitcoin will be the best money ever.
The problem is that what Bernanke is proposing is nowhere near free banking. Its more like lets get away with the small and inefficient check and ballances that exists right now to keep credit expansion in check. I mean, they dont work, the bubbles show it, but at least they make the process somehow slower. Btw, this could be moved to the economics subforum, dont you think? |
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I just realised something today that sent a chill down my spine. Why would the government attack the existing bitcoin when it can fork bitcoin, create its own block chain and force everyone to use its own client that it controls? They have a monopoly on force so could mandate that everyone uses the nifty new govcoin software. I can imagine the block chain dwarfing the existing block chain quite easily if the state created its own govcoin monopoly. They could then practically track every transaction in the network and force people to have a government registered govcoin address. Then they could tattoo it on your arm.....etc..etc...  Am I wrong?  That is the reason why anonimity and de-centralization is important. And bitcoin has both. |
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What about buying it between a group of some bitcoiners and create the first bitcoin republic?  |
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Did You mean: terrorism threats ? Yeah. English is not my first language. Thanks for the correction. |
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Yes we can! Change my ass! Obama is fucking desperate. He knows he is going to take a beating in this elections. In case anyone wants to read the script Obama screenwriters wrote go here. If anyone wants to know where Obama is getting his ideas from: http://www.youtube.com/watch?v=3lDZjiPok3w |
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Thing is : bitcoin is not just a currency amongst other currencies. Bitcoin is a form of money that can't be taxed. Keynes called gold "the barbareous relic". Imagine what he would say about bitcoins.  Bitcoins CAN be taxed. Tax evasion can happen in any currency, easier or harder, but can happen. What makes bitcoin different from dollars or any other important currency is that its a voluntary currency, and therefore it wont be inflationary.It will keep the natural market rates and avoid the boom and bust cycles. |
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Ok but what is gold ? Is it money, a currency, a commodity or what ? Truly gold is a chemical element. Nothing more. Well, in the same way, bitcoin is a p2p network that comply to a certain protocol. If you want to know what is bitcoin, the best way to find out is to read the source code. PS: this is "applied objectivism", I guess My table is a piece of wood and a table at the same time. Or more precisely is a piece of wood and is being used as a table at the same time. Nobody sees nothing wrong with this. Things can "be" two (or even more) "things" at the same time. Similarly, gold is a chemical element and is being widely used as money. As long as it is used as money, it is money. When people stops using gold as money it wont be money. Samething with the inked pieces of paper from the Federal Reserve. They are paper and are being used as money. Money is a function. And bitcoin is functioning as money. |
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"If we do not halt this steady process of building commissions and regulatory bodies and the special legislation like huge inverted pyramids over every one of the simple constitutional provisions, we shall soon be spending many billions of dollars more."
Franklin D. Roosevelt,
before wining the elections. Ironically prophetic.
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I'm not a troll, I've been a part of the bitcoin forums for a while and intend to stick around for a while yet. I don't check in all that often so don't always respond quickly.
Defending one's fields by having neighbors assist in defending them and paying with vegetables is community action, that is at the heart of Anarchist thought (at least Anarcho Socialist thought) but it does mean that in a certain way the fields belong to all of the neighbors. Holding a giant compound with security doors meanwhile, I don't know that I can address that properly. I suppose that so long as you are not using that control to exert power over your neighbors there is really nothing wrong with it. I was not pretending to say it otherwise, and I am happy to be in the bitcoin project with everyone. Hope that is clear. Now that we have taken that out of the way I honestly think that your definitions are too subjective or vague. "control to exert power over your neighbors" can be interpreted in a multitude of ways. Its very opinable. To support something I need a clearer explanation on how things would work. |
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Hmm, spambot are getting more sophisticated. That mean they might pass the turning test one day!
We'll be talking to spambots and don't know it. The world is doomed!
If they have big tits its fine with me  |
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"Bitcoin = cash, no IRS" 4 words  My vote goes for this. |
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Peter Schiff's father would probably like bitcoin as well.  Irwin Schiff is a real hero. |
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I will just leave this here  |
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