SORT BY Relevancy
The Federal Reserve Act (enacted December 23, 1913 signed into law by president Woodrow Wilson) was purportedly designed to aid in:
1. Conducting the nation’s monetary policy by influencing monetary and credit conditions in the economy in pursuit of maximum employment, stable prices, and moderate long-term interest rates.
2. Supervising and regulating banking institutions to ensure the safety and soundness of the nation’s banking and financial system, and protect the credit rights of consumers.
3. Maintaining stability of the financial system and containing systemic risk that may arise in financial markets.
4. Providing financial services to depository institutions, the U.S. government, and foreign official institutions, including playing a major role in operating the nation’s payments system.
The Origins of Fractional Reserve Banking
In XVIth century England people who had gold would deposit it with goldsmiths for safekeeping. In exchange they got a signed receipt guaranteeing that they could retrieve it. The value assigned to that note backed by the gold in the goldsmith’s vault made it possible to use it for payment.
That means if A deposited £10 worth of gold and had in his possession a receipt he could settle his debt with it. That receipt, actually a promissory note, became money. The person who took it in payment could either use it as is, or at some later point retrieve the gold in the goldsmith’s keeping.
At the same time B borrows £10 worth of gold from the goldsmith but receives a promissory note. He settles his debt to C with that note. Now there are two notes in circulation for one amount of gold. The goldsmith issues further notes, knowing that all claims would not have to be honored at the same time.
in Self Help
Philosopher Dr. Diana Hsieh answered questions on fractional reserve banking, fraud, and deception, people unworthy of the truth, deception in a business partner, and more in this episode of Philosophy in Action Radio.
Question 1: Does fraud require deliberate deception?
Question 2: Are some people unworthy of the truth?
Question 3: How can I decide whether a business associate has crossed the line?
To download or feed a high-quality version of this episode, plus show notes and other details, visit its archive page.
For more from Dr. Diana Hsieh on the application of rational principles to the challenges of real life, visit PhilosophyInAction.com.
John writes in the Money Bubble, "In a very real sense, it is fractional reserve banking and not money itself that is the root of so many of today’s evils. Whenever fractional reserves are permitted, the banking system – including the one that exists today throughout the world – comes to resemble a classic Ponzi scheme which can only function as long as most people don’t try to get at their money."
A Better System"Now, is this critique of the current monetary system just impotent ideological whining over something that, like the weather, can’t be changed? Or could fractional reserve banking and the resulting need for economic central planning actually be replaced by something better? Specifically, how could a banking system without fractional reserve lending accommodate depositors’ demand that their money be there when they want it andborrowers’ desire for 30-year mortgages which would tie up those deposits for decades? And could this market operate without the need for government oversight and management?"
Adherents of Austrian Economics are right about a lot of things, but the one thing they are wrong about could cost them a victory against central banking. That's a victory that the heartland of America desperately needs them to win.
Alex Merced discusses the Fractional Reserve Banking argument that tears the libertarian community at it seems at times.
Donate to Alex Merced
Fractional Reserve Banking, Oil and NWO Corruption
in The Bible
We must train ourselves to think like Christ, if we are to be like Christ. Jesus Christ came to this earth and left Heaven and all its glory. On earth, Jesus made Himself nothing. While He was on earth, He was a Servant. Here on earth, He humbled himself to the degree that He without reserve died a criminal's death. And He did all this for us.When we see the need to serve others, we will look into the concerns of others, there needs to be the utmost subtlety. Everyone at one time or another has wanted something kept secret. When we visit the sick, as we show a tender kindness for them, we shouldn't be too precise in being inquisitive into their medical disorders or their emotions. Circumstances may be such they prefer not to speak about. We should allow them to tell their own stories.
Alright freaks! You see and hear about it all the time....the New World Order.But, what is it? Is it anything? Are there a few select elite people sitting atop a world pyramid steering us all down a certain path? Good freaking question! Crafty & the Adamizer will try to get to the bottom of it and you might be surprised at the answer(s). Bax will also be chipping in with his take and of course, we'll pause to have a few laughs and get our freak on with some music. We encourage any and all freaks to call in and give us your thoughts from whatever Freak Show you're in. So tune in, peace out and get that funky freak on!
This show is about Bellesprit Magazine, our Bellesprit Diamond Psychics and Healers and the columnists who contribute to the magazine’s content. Each week we focus on one of our Team members to help you to learn more about their specialty and to get to know them better.
My name is Lisa Noland Shalosky here with my husband Patrick Shalosky, we are your guest hosts for tonight’s show. Visit my website at www.LisaNoland.com.
Tonight’s special guest is the May Cover Feature Mira Kelley!
About Mira: Mira is a world-renowned expert on past life regression and the best-selling author of Beyond Past Lives. She facilitates workshops, retreats, individual consultations and speaks around the world, promoting the healing and transformation available through regression. Stories from Mira’s sessions are included in Wishes Fulfilled by Dr. Wayne W. Dyer and in Miracles Happen by Brian L. Weiss, M.D. and on Oprah.com. Learn more about Mira and how you can work with her at her website, www.mirakelley.com. Download your free meditation gift at www.mirakelley.com/gift.
Join us in our live chat room to interact with our special guest and other listeners to discuss the broadcast and ask questions. Laurie will be there to greet you! We will not be giving free 1 question readings tonight. We want to reserve this time for our guest and questions relating to her life.
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Every African-American male in this country who drives a vehicle, or has traveled by bus or plane, either knowingly or unknowingly has been the victim of racial profiling by law enforcement officials. Indeed, African-American males are disproportionately targeted, stopped, and searched by law enforcement officials based on race and gender. Those responsible for enforcement of public laws view African-American males as criminals. Unfortunately, the American justice system has condoned, supported, and in some instances encouraged such actions by law enforcement officials to stop, arrest, prosecute, and incarcerate African-American males. On the basis of race and gender, governmental officials have devised a profile of the typical criminal: black and male.
The term driving while black has been used to describe the practice of law enforcement officials to stop African-American drivers without probable cause. The practice particularly targets African-American males. African-American males are not only singled out while driving, but also while schooling, eating, running for political office, walking, banking, serving as a juror, getting a taxi, shopping, and just being black and a male. The mere fact of being black and male in America is sufficient cause for governmental and private law enforcement officials to abridge the rights of African-American males. This is not to suggest that law enforcement officers can never consider race when performing their job. Just the opposite, where a witness identifies the race and gender of a suspect, it is relevant evidence to consider in an effort to apprehend a criminal. Racial profiling, however, involves a pre-disposition held by law enforcement officers who are members of the majority, to believe that minorities, and particularly African-American males, are engaged in criminal activities; therefore, they are stopped and searched without probable cause or reasonable suspicion.
William Morgan of Capital Management Group of the Carolinas takes a 30,000 foot point of view and discusses the economic stall in 1st Qtr. Are we just treading water? Exports, inventories, GDP, 3-month moving averages, weather, strong dollar and energy cutbacks. Will the Fed raise rates? Stay the course. The rear view mirror is small and the windshield provides a bigger view! May the Force Be With You!