Federal Reserve - OzChess

**Comeback Kid** · 01-18-2008, 12:53 PM

Originally Posted by Axiom

If I shout "The Federal Reserve is a private owned bank" is that conspiratorial? Would it get me booted (even though it is a fact)?

No Axiom, you are mistaken. It is government owned!

**Axiom** · 01-18-2008, 06:45 PM

Originally Posted by Arrogant-One

No Axiom, you are mistaken. It is government owned!

http://www.apfn.org/APFN/fed_reserve.htm !

**Firegoat7** · 01-18-2008, 07:44 PM

Hi,

Maybe there is some confusion caused by the micro macro picture. I am not sure. I understand the USA federal reserve is a private banking system, closely linked with the World bank and IMF. But, Is the Australian federal reserve a private body? I don't know. Maybe you and Alex are talking about different organisations Axiom.

cheers Fg7

**Fischer-Fan** · 01-19-2008, 01:42 PM

Originally Posted by Firegoat7

But, Is the Australian federal reserve a private body? I don't know. Maybe you and Alex are talking about different organisations Axiom.

cheers Fg7

isn't the australian version of the federal reserve called the reserve bank of australia, the one that is expected to increase interests rates again very shortly?

**Comeback Kid** · 01-19-2008, 10:47 PM

Originally Posted by Axiom

http://www.apfn.org/APFN/fed_reserve.htm !

Axiom,

Thank you for opening my eyes about this! Do you think the reason Bill won't let you talk about this subject is because maybe he knows that it is private owned and its in his best interest to keep it a secret!

AO

**Axiom** · 01-23-2008, 07:49 PM

**Chessic-Adventures** · 01-24-2008, 07:50 PM

Originally Posted by Firegoat7

Hi,

Maybe there is some confusion caused by the micro macro picture. I am not sure. I understand the USA federal reserve is a private banking system, closely linked with the World bank and IMF. But, Is the Australian federal reserve a private body? I don't know. Maybe you and Alex are talking about different organisations Axiom.

cheers Fg7

The Federal Reserve Board acts as a lender of last resort and a general control of the money supply. Something that is absolutely necessary in a modern economy. While each bank that is part of the federal reserve does technically own shares in the Fed, the government has the whip hand.

The dramatic booms and busts of the 1870's-1900's were in large part due to the lack of a central bank... and most of the ones up until the Great Depression was because the Fed was often reluctant to do anything.

**Firegoat7** · 01-25-2008, 12:34 AM

Originally Posted by Chessic-Adventures

The Federal Reserve Board acts as a lender of last resort and a general control of the money supply. Something that is absolutely necessary in a modern economy. While each bank that is part of the federal reserve does technically own shares in the Fed, the government has the whip hand.

The dramatic booms and busts of the 1870's-1900's were in large part due to the lack of a central bank... and most of the ones up until the Great Depression was because the Fed was often reluctant to do anything.

Thats all very interesting Chessic. So the Australian Federal Reserve does have government input and control measures. Is that right? Could you possibly explain a bit more about the subject because I really liked your post.

cheers Fg7

**Iconoclast** · 01-25-2008, 09:33 AM

I am with Axiom on this one. The "banks" are a truly inscrutable edifice for the corporations of the world. I regularly get chuckled at when I proclaim my sadness that Dr Evatt was unable to pass legislation in Australia in the 1950s, to nationalise the banks.

Take note: The banks can and do create money all the time. It works like this. The "banks" ought to agree that an asset is actually worth $X and will lend money to an agent who then uses $X to buy the asset. That would be a net zero change in worth. However, over the centuries, the "banks" have been agreeing that assets are worth small % >$X. This effectively creates money. The practise of buying and selling of assets, over a long time has lead to a compounding of debit liability to the point that the interest on the debit keeps the working/middle classes under control (mostly).

Idiot right wingers go ballistic every time a government "prints money," shrieking warnings of hyper-inflation. However, they never stop top think how the "banks" are THE cause of that "natural 1-2% inflation." It is that inflation that is slowly slowly turning the western societies back to feudal serfdom.

**Firegoat7** · 01-25-2008, 11:45 PM

Originally Posted by Iconoclast

Idiot right wingers go ballistic every time a government "prints money," shrieking warnings of hyper-inflation. However, they never stop top think how the "banks" are THE cause of that "natural 1-2% inflation." It is that inflation that is slowly slowly turning the western societies back to feudal serfdom.

You mean like this clown?http://en.wikipedia.org/wiki/Milton_Friedman

cheers Fg7

**Firegoat7** · 01-31-2008, 09:07 AM

Hi,

I woke up to the sound of rain and I thought "Do all chessplayers love that sound?", because I do. For today is an indoor day, perfect for chess.
Anyway, my sleep produced a subconscious realisation which I really must correct. A little while back I wrote

Originally Posted by Fg7

I understand the USA federal reserve is a private banking system,

What I really should say is I am no banking expert. I have not researched or tried to understand the banking system. I have simply taken on board what other people have said and presumed it was the truth, yet in all honesty I simply do not know what the truth really is. So I apologise if I have misled anybody here.

Nevertheless, this got me thinking about conspiracy theory in general. I for one am quite uncomfortable with it. I don't particularly believe at least 75% of it, but I do acknowledge that sometimes there are basic grains of truth, even if they are heavily distorted. However anything that makes people think about their own human condition and that of others, in our industrial worlds, must be ok, even if it is complete garbage.

So I guess, what I am trying to say is this. Can we debunk some of the more 'inventive' claims made in the conspiracy theory threads with hard evidence. And whilst we are at it, could we possibly investigate why some aspects of 'conspiracy theory' appeal to people. I am interested to know if the stories presented by 'conspiracy theory' have a meaningful, or symbolic appeal to some people or, is it just an endless sea of white noise in the age of information overload?

cheers Fg7

**Axiom** · 01-31-2008, 04:42 PM

Originally Posted by Firegoat7

Hi,

I woke up to the sound of rain and I thought "Do all chessplayers love that sound?", because I do. For today is an indoor day, perfect for chess.
Anyway, my sleep produced a subconscious realisation which I really must correct. A little while back I wrote

What I really should say is I am no banking expert. I have not researched or tried to understand the banking system. I have simply taken on board what other people have said and presumed it was the truth, yet in all honesty I simply do not know what the truth really is. So I apologise if I have misled anybody here.

Nevertheless, this got me thinking about conspiracy theory in general. I for one am quite uncomfortable with it. I don't particularly believe at least 75% of it, but I do acknowledge that sometimes there are basic grains of truth, even if they are heavily distorted. However anything that makes people think about their own human condition and that of others, in our industrial worlds, must be ok, even if it is complete garbage.

So I guess, what I am trying to say is this. Can we debunk some of the more 'inventive' claims made in the conspiracy theory threads with hard evidence. And whilst we are at it, could we possibly investigate why some aspects of 'conspiracy theory' appeal to people. I am interested to know if the stories presented by 'conspiracy theory' have a meaningful, or symbolic appeal to some people or, is it just an endless sea of white noise in the age of information overload?

cheers Fg7

response post in info wars thread

**Axiom** · 01-31-2008, 10:54 PM

Originally Posted by Chessic-Adventures

The Federal Reserve Board acts as a lender of last resort and a general control of the money supply. Something that is absolutely necessary in a modern economy. While each bank that is part of the federal reserve does technically own shares in the Fed, the government has the whip hand.

The dramatic booms and busts of the 1870's-1900's were in large part due to the lack of a central bank... and most of the ones up until the Great Depression was because the Fed was often reluctant to do anything.

if the govt has the whip hand then why does the fed reserve control interest rates ??

read this for the courts last word on the status of the fed reserve !
http://www.save-a-patriot.org/files/view/frcourt.html

**Axiom** · 01-31-2008, 11:04 PM

**Axiom** · 06-30-2009, 03:51 AM

01-18-2008, 12:53 PM	#1 (permalink)
Comeback Kid Tin Cup Champ 2004 Join Date: Jul 2007 Location: Brisbane, Australia Posts: 4,712 ICC Handle: Advantage FICS Handle: Advantage	Federal Reserve Originally Posted by Axiom If I shout "The Federal Reserve is a private owned bank" is that conspiratorial? Would it get me booted (even though it is a fact)? No Axiom, you are mistaken. It is government owned! __________________ . "He was a man, take him for all in all. I shall not look upon his like again." ~ Hamlet ~

01-18-2008, 06:45 PM	#2 (permalink)
Axiom Reality Analyst Join Date: Aug 2007 Location: Australia Posts: 2,974	Originally Posted by Arrogant-One No Axiom, you are mistaken. It is government owned! http://www.apfn.org/APFN/fed_reserve.htm !

01-19-2008, 01:42 PM	#4 (permalink)
Fischer-Fan Senior Member Join Date: Jul 2007 Location: Perth Posts: 153	Originally Posted by Firegoat7 But, Is the Australian federal reserve a private body? I don't know. Maybe you and Alex are talking about different organisations Axiom. cheers Fg7 isn't the australian version of the federal reserve called the reserve bank of australia, the one that is expected to increase interests rates again very shortly? __________________ Patzer see check, patzer give check! - Bobby Fischer

01-19-2008, 10:47 PM	#5 (permalink)
Comeback Kid Tin Cup Champ 2004 Join Date: Jul 2007 Location: Brisbane, Australia Posts: 4,712 ICC Handle: Advantage FICS Handle: Advantage	Originally Posted by Axiom http://www.apfn.org/APFN/fed_reserve.htm ! Axiom, Thank you for opening my eyes about this! Do you think the reason Bill won't let you talk about this subject is because maybe he knows that it is private owned and its in his best interest to keep it a secret! AO __________________ . "He was a man, take him for all in all. I shall not look upon his like again." ~ Hamlet ~

01-24-2008, 07:50 PM	#7 (permalink)
Chessic-Adventures Senior Member Join Date: Sep 2007 Location: Sydney Posts: 215	Originally Posted by Firegoat7 Hi, Maybe there is some confusion caused by the micro macro picture. I am not sure. I understand the USA federal reserve is a private banking system, closely linked with the World bank and IMF. But, Is the Australian federal reserve a private body? I don't know. Maybe you and Alex are talking about different organisations Axiom. cheers Fg7 The Federal Reserve Board acts as a lender of last resort and a general control of the money supply. Something that is absolutely necessary in a modern economy. While each bank that is part of the federal reserve does technically own shares in the Fed, the government has the whip hand. The dramatic booms and busts of the 1870's-1900's were in large part due to the lack of a central bank... and most of the ones up until the Great Depression was because the Fed was often reluctant to do anything.

01-18-2008, 07:44 PM	#3 (permalink)
Firegoat7 Senior Member Join Date: Sep 2007 Location: somewhere in virtual reality Posts: 1,217 ICC Handle: guest	Hi, Maybe there is some confusion caused by the micro macro picture. I am not sure. I understand the USA federal reserve is a private banking system, closely linked with the World bank and IMF. But, Is the Australian federal reserve a private body? I don't know. Maybe you and Alex are talking about different organisations Axiom. cheers Fg7

01-23-2008, 07:49 PM	#6 (permalink)
Axiom Reality Analyst Join Date: Aug 2007 Location: Australia Posts: 2,974

01-25-2008, 12:34 AM	#8 (permalink)
Firegoat7 Senior Member Join Date: Sep 2007 Location: somewhere in virtual reality Posts: 1,217 ICC Handle: guest	Originally Posted by Chessic-Adventures The Federal Reserve Board acts as a lender of last resort and a general control of the money supply. Something that is absolutely necessary in a modern economy. While each bank that is part of the federal reserve does technically own shares in the Fed, the government has the whip hand. The dramatic booms and busts of the 1870's-1900's were in large part due to the lack of a central bank... and most of the ones up until the Great Depression was because the Fed was often reluctant to do anything. Thats all very interesting Chessic. So the Australian Federal Reserve does have government input and control measures. Is that right? Could you possibly explain a bit more about the subject because I really liked your post. cheers Fg7

01-25-2008, 09:33 AM	#9 (permalink)
Iconoclast Immoderator Join Date: Jul 2007 Location: Wollongong NSW Posts: 1,605	I am with Axiom on this one. The "banks" are a truly inscrutable edifice for the corporations of the world. I regularly get chuckled at when I proclaim my sadness that Dr Evatt was unable to pass legislation in Australia in the 1950s, to nationalise the banks. Take note: The banks can and do create money all the time. It works like this. The "banks" ought to agree that an asset is actually worth $X and will lend money to an agent who then uses $X to buy the asset. That would be a net zero change in worth. However, over the centuries, the "banks" have been agreeing that assets are worth small % >$X. This effectively creates money. The practise of buying and selling of assets, over a long time has lead to a compounding of debit liability to the point that the interest on the debit keeps the working/middle classes under control (mostly). Idiot right wingers go ballistic every time a government "prints money," shrieking warnings of hyper-inflation. However, they never stop top think how the "banks" are THE cause of that "natural 1-2% inflation." It is that inflation that is slowly slowly turning the western societies back to feudal serfdom. __________________ The individual is hopeless without the group. The group is hopeless without its individuals.

01-25-2008, 11:45 PM	#10 (permalink)
Firegoat7 Senior Member Join Date: Sep 2007 Location: somewhere in virtual reality Posts: 1,217 ICC Handle: guest	Originally Posted by Iconoclast Idiot right wingers go ballistic every time a government "prints money," shrieking warnings of hyper-inflation. However, they never stop top think how the "banks" are THE cause of that "natural 1-2% inflation." It is that inflation that is slowly slowly turning the western societies back to feudal serfdom. You mean like this clown?http://en.wikipedia.org/wiki/Milton_Friedman cheers Fg7

01-31-2008, 09:07 AM	#11 (permalink)
Firegoat7 Senior Member Join Date: Sep 2007 Location: somewhere in virtual reality Posts: 1,217 ICC Handle: guest	Hi, I woke up to the sound of rain and I thought "Do all chessplayers love that sound?", because I do. For today is an indoor day, perfect for chess. Anyway, my sleep produced a subconscious realisation which I really must correct. A little while back I wrote Originally Posted by Fg7 I understand the USA federal reserve is a private banking system, What I really should say is I am no banking expert. I have not researched or tried to understand the banking system. I have simply taken on board what other people have said and presumed it was the truth, yet in all honesty I simply do not know what the truth really is. So I apologise if I have misled anybody here. Nevertheless, this got me thinking about conspiracy theory in general. I for one am quite uncomfortable with it. I don't particularly believe at least 75% of it, but I do acknowledge that sometimes there are basic grains of truth, even if they are heavily distorted. However anything that makes people think about their own human condition and that of others, in our industrial worlds, must be ok, even if it is complete garbage. So I guess, what I am trying to say is this. Can we debunk some of the more 'inventive' claims made in the conspiracy theory threads with hard evidence. And whilst we are at it, could we possibly investigate why some aspects of 'conspiracy theory' appeal to people. I am interested to know if the stories presented by 'conspiracy theory' have a meaningful, or symbolic appeal to some people or, is it just an endless sea of white noise in the age of information overload? cheers Fg7

01-31-2008, 04:42 PM	#12 (permalink)
Axiom Reality Analyst Join Date: Aug 2007 Location: Australia Posts: 2,974	Originally Posted by Firegoat7 Hi, I woke up to the sound of rain and I thought "Do all chessplayers love that sound?", because I do. For today is an indoor day, perfect for chess. Anyway, my sleep produced a subconscious realisation which I really must correct. A little while back I wrote What I really should say is I am no banking expert. I have not researched or tried to understand the banking system. I have simply taken on board what other people have said and presumed it was the truth, yet in all honesty I simply do not know what the truth really is. So I apologise if I have misled anybody here. Nevertheless, this got me thinking about conspiracy theory in general. I for one am quite uncomfortable with it. I don't particularly believe at least 75% of it, but I do acknowledge that sometimes there are basic grains of truth, even if they are heavily distorted. However anything that makes people think about their own human condition and that of others, in our industrial worlds, must be ok, even if it is complete garbage. So I guess, what I am trying to say is this. Can we debunk some of the more 'inventive' claims made in the conspiracy theory threads with hard evidence. And whilst we are at it, could we possibly investigate why some aspects of 'conspiracy theory' appeal to people. I am interested to know if the stories presented by 'conspiracy theory' have a meaningful, or symbolic appeal to some people or, is it just an endless sea of white noise in the age of information overload? cheers Fg7 response post in info wars thread

01-31-2008, 10:54 PM	#13 (permalink)
Axiom Reality Analyst Join Date: Aug 2007 Location: Australia Posts: 2,974	Court Rules Federal Reserve is Privately Owned Originally Posted by Chessic-Adventures The Federal Reserve Board acts as a lender of last resort and a general control of the money supply. Something that is absolutely necessary in a modern economy. While each bank that is part of the federal reserve does technically own shares in the Fed, the government has the whip hand. The dramatic booms and busts of the 1870's-1900's were in large part due to the lack of a central bank... and most of the ones up until the Great Depression was because the Fed was often reluctant to do anything. if the govt has the whip hand then why does the fed reserve control interest rates ?? read this for the courts last word on the status of the fed reserve ! http://www.save-a-patriot.org/files/view/frcourt.html

01-31-2008, 11:04 PM	#14 (permalink)
Axiom Reality Analyst Join Date: Aug 2007 Location: Australia Posts: 2,974	now for the theorising...

06-30-2009, 03:51 AM	#15 (permalink)
Axiom Reality Analyst Join Date: Aug 2007 Location: Australia Posts: 2,974

Thread Tools
Show Printable Version Email this Page
Rate This Thread
Rate This Thread: