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.
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.
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?"
Alex Merced discusses the Fractional Reserve Banking argument that tears the libertarian community at it seems at times.
Donate to Alex Merced
The Awakening Liberty Show is a hard hitting program focused of truth, freedom and liberty from a Christian perspective. Join Sean every Saturday night at 6 pm pacific time to explore world events. The show includes commentary, news and analysis of the New World Oder Globalist agenda and how it relates to biblical prophecy.
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Special Guest Michael Howell of fightingthetyranny.wordpress.com will be on to discuss ideas to combat the international money cartel and how to end their racket...
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The Gridiron / November 25th
Jerry Chiles discuss NFL and NCAA Football topics at 12pm ET/9am PT
* Doug Flutie’s parents died on same day
* NFL’s most improved players
* Texans claim Brandon Weeden off waivers
* Lions name Rod Wood president
* Who do you feel is the luckiest team in the NFL this season
* Who do you feel is the unluckiest team in the NFL this season
* Buccaneers Kwon Alexander facing suspension
* 49ers place Colin Kaepernick on injured reserve
* Jameis Winston threatens to sue CNN
* Rob Gronkowski signs w/ Monster
* Maryland suspends running back Wes Brown
* Louisiana Monroe dismisses head coach Todd Berry
* Navy quarterback Keenan Reynolds sets mark for career rushing touchdowns
* Sean Maguire named Florida State starting quarterback
* Arizona State safety college career ended
* James Onwualu has knee injury
* The Heisman race
* Police investigating rape report on Tommy Armstrong Jr
* Duke kicks three off team
* Josh Doctson to miss last two regular season games due to injury
* Missouri’s Terry Beckner Jr out for the season
* Judge grants Penn State trustees access to scandal report folder
* Ole Miss LB Denzel Nkemdiche in hospital
* Will Grier loses appeal
* The Buckeye Meltdown
* Irish loses CJ Prosise and KeiVarae Russell to injury
* Utes Davontae Booker out for season
Nov.25 Barry Prince Canada Self Sufficient Condos
With Open Gates is the turmoil and killing in Europe headed for America and Canada?
You were bred to be a slave in a tightly controlled society. Your chains are invisible. Your schools teach you to be content with your lot in life while they train you to follow orders. Your history has been changed, gradually. Your grandfather knew more than your father and less than his. You are poisoned at birth by Mercury contaminated vaccines. A time bomb, if you will. The poisoning continues throughout your teenage years and adulthood Clayton R. Douglas firstname.lastname@example.org www.freeamerican.com www.shop.freeamerican.com
Good Morning Family! Today we are talking about Money In The News for November. With Thanksgiving a few days away and Black Friday right after that who's spending money. Are the retail stores making a profit this year? Will you be getting better deals on your purchases? With all these the wars going on around the world is our stock market safe are we for that matter? We have all these questions and much more we will address today on The Cheap Cheetah Show.