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Question: Do you believe the US will lose its AAA rating?
Definitely - 41 (31.8%)
Pretty Sure - 39 (30.2%)
Absolutely Not - 26 (20.2%)
May Need a Tow Truck - 4 (3.1%)
This is the best poll I've ever participated in. - 19 (14.7%)
Total Voters: 129

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Author Topic: The $1 Billion Armageddon Trade  (Read 3904 times)
GideonGono
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Long Live The FED


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August 01, 2011, 11:53:15 PM
 #41

I don't think "returning" to the constitution as it pertains to Congress "coining money and regulating the value thereof" is a viable solution. It failed to stop the rise of central banking when it was first tried. What makes you think things will be any different this time? I think the whole concept of monopoly money should be relegated to the dustbin of history entirely.
I think what failed to stop the central banking was congress itself by letting themselves be corrupted by the banks to vote on the deal on x-mas eve when majority is unavailable for voting.
And then the president signing the federal reserve law.

What is to stop this from happening again?

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August 02, 2011, 10:59:03 PM
 #42

First.  Put the Glass-Steagall Act back in place.

The repeal of provisions of the Glass–Steagall Act of 1933 by the Gramm–Leach–Bliley Act effectively removed the separation that previously existed between investment banking which issued securities and commercial banks which accepted deposits. The deregulation also removed conflict of interest prohibitions between investment bankers serving as officers of commercial banks. Experts believe that this repeal directly contributed to the severity of the Financial crisis of 2007–2011 by allowing Wall Street investment banking firms to gamble with their depositors' money that was held in commercial banks owned or created by the investment firms

America may have won the war of Independence but were quickly invaded again by stealth via the Fed money system that has its roots in the UK banking system. As a result, the US is simply a 'corporation' of the UK and most Americans dont even realise it. Quite ingenious really.

What is the alternative though?  Yes, the spending has gotten out of hand but if you're really going to attack the root of the system, there needs to be a viable alternative.  Can you name a single successful economy that doesn't use fractional reserve banking?
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