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Author Topic: The Federal Reserve's Intelligence  (Read 1363 times)
kiba
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November 11, 2010, 08:24:32 PM
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"The Federal Reserve has more PHD's per square foot than any institution in the world" - Alan Greenspan, 2006.

"The bitcoin forum have more libertarian computer hackers than any institution in the world! Let do battle for economic dominance, Greenspan." - Kiba, 2010.

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Bitquux
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November 11, 2010, 09:58:22 PM
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For all those PhDs, they sure can predict the economy well (sarcasm)

Why predict what you already own?
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November 11, 2010, 10:18:33 PM
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"The bitcoin forum have more libertarian computer hackers than any institution in the world! Let do battle for economic dominance, Greenspan." - Kiba, 2010.

Good thing about this battle is that it will be easy to judge.  We'll just have to see which money will survive the other.

Even if it's quite an unfair game, since dollar is basically backed by US army and police force, my bet still goes to bitcoin.
Anonymous
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November 12, 2010, 05:56:03 AM
 #4

bitcoin=no bank holidays

 Smiley
BrightAnarchist
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November 12, 2010, 06:38:27 AM
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bitcoin=no bank holidays

 Smiley

bitcoin=QE2...oh wait, it doesn't affect me.
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November 12, 2010, 04:42:05 PM
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"The bitcoin forum have more libertarian computer hackers than any institution in the world! Let do battle for economic dominance, Greenspan." - Kiba, 2010.

Good thing about this battle is that it will be easy to judge.  We'll just have to see which money will survive the other.

Even if it's quite an unfair game, since dollar is basically backed by US army and police force, my bet still goes to bitcoin.


It's true that Bitcoin has no enforcement wing, but the last time that the US Congress inflated the currency that the military was paid with, we can within inches of a military takeover.  If it wasn't for Washington, we could have ended up with a military dictator as fast as the French did.  It's were the old phrase, "not worth a Continental" came from, and not because the Continental note was worth much.  It's really dangerous for the Fed to inflate with abandon, and they know it.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
BrightAnarchist
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November 12, 2010, 07:11:40 PM
 #7

"The bitcoin forum have more libertarian computer hackers than any institution in the world! Let do battle for economic dominance, Greenspan." - Kiba, 2010.

Good thing about this battle is that it will be easy to judge.  We'll just have to see which money will survive the other.

Even if it's quite an unfair game, since dollar is basically backed by US army and police force, my bet still goes to bitcoin.


It's true that Bitcoin has no enforcement wing, but the last time that the US Congress inflated the currency that the military was paid with, we can within inches of a military takeover.  If it wasn't for Washington, we could have ended up with a military dictator as fast as the French did.  It's were the old phrase, "not worth a Continental" came from, and not because the Continental note was worth much.  It's really dangerous for the Fed to inflate with abandon, and they know it.

True, and ultimately hyperinflation would destroy the Fed itself, so despite what people think the Fed would not desire this. They do, of course, want to inflate to bail out their buddies etc, but just so long as they do it discretely and slowly enough so that the public doesn't lose trust in their crappy money.
joeydangerous
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November 18, 2010, 06:45:37 PM
 #8

I have noticed that it is mostly libertarian hackers on here! I'm only the first one though, but I still love bitcoin. I already have more faith in it than these dollars we've been using.
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