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Altria Group Inc. Message Board

  • todlondon todlondon Nov 20, 2012 1:34 PM Flag

    Abolish the Fed

    What would the Federal Reserve do to take revenge

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    • "What would the Federal Reserve do to take revenge."

      They wouldn't have to do anything, retard. Your scrotum would now be in the hands of the dooshes on Wall Street, who would gain complete control of the economy. "Revenge" would be automatic.

      From Investopedia:

      "The United States was considerably more unstable financially before the creation of the Federal Reserve. Panics, seasonal cash crunches and a high rate of bank failures made the U.S. economy a riskier place for international and domestic investors to place their capital. The lack of dependable credit stunted growth in many sectors, including agriculture and industry.

      J.P. Morgan and the Panic of 1907

      It was J.P. Morgan who forced the government into acting on the central banking plans it had been considering off and on for almost a century. During the Bank Panic of 1907, Wall Street turned to J.P. Morgan to steer the country through the crisis that was threatening to push the economy over the edge into a full crash and depression. Morgan was able to convene all the principal players at his mansion and command all their capital to flood the system, thus floating the banks that, in turn, helped to float the businesses until the panic passed.

      The fact that the government owed its economic survival to a private banker forced the necessary legislation to create a central bank and the Federal Reserve.

      Contard who yells about how bad the Fed is, magically believes that Goldman Sachs and Jack Madoff would be better if put in charge.

 
MO
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