Is it normal to feel that the federal reserve system is a travesty? part 1

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13 Comments

I have recently been trying to get my GED and to do that i have to study, not so much but enough to learn a few things. In order to take it, I have to pass the U.S. Constitution test, so i have been studying like crazy nonstop this weekend and i have come across some contradicting inconsistencies and disturbing(to say the least)things in the constitution and what is being done today.
OK, let me explain my grievances, Article 1 Sec. 10 says that no state can make anyThing but Gold, and Silver coin a tender in payment of debts. So, that means nothing other than gold and silver can be used as currency. I shed a tear when i realized that there is a privately owned company printing our 'money' which in fact isn't even money at all! They are notes,Federal Reserve Notes to be exact! Notes are(in terms of currency) are bills of credit, and that is so unconstitutional my balls just snuck up in my throat and replaced my tonsils. The fact that the Congress would enact and continue to allow this to continue is an outrage and lets me know that we have failed our founding father a long time ago. Is that normal?

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56% Normal
Based on 27 votes (15 yes)
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Comments ( 13 )
  • Pepper
    12 years ago

    Are you saying you think the money in your wallet was printed by a private company operating under a state? Are you in the US? If the answer to both of these questions is yes, then you completely miss the point of a system that's actually quite well thought-out.

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    • froggyree
      12 years ago

      If you really look at the system, yes it is really thought out but only to capitalize on United states currency by taking control of it and manipulating it to suit its own needs.

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  • Pepper
    12 years ago

    Let's make this simpler. Money is a thing that can be readily exchanged for goods or services. Can you trade the paper notes in your pocket for goods or services? If the answer is yes, we're done here.

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    • froggyree
      12 years ago

      ...! Agreeable.

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  • penpal21
    12 years ago

    You're completely misinterpreting the amendment and the Federal Reserve System. Get your GED and then take a few college economics courses, particularly one that's typically called 'money and banking'. (You will probably need to take principles of micro and macro before taking this course.) M&B will cover the Federal Reserve System, how it came about through an act of congress in response to the very large number of bank failures and financial panics prior to the Great Depression, and the roles it plays today balancing sustainable growth targets with price stability (among other things). It will also teach you the difference between fiscal and monetary policy, how each are conducted, and why a failure in one can't be propped up by the other. Some of the same people (politicians included) who advocate dismantling the Fed are the same ones who advocated the securities deregulation that lead directly to the financial crisis. Economic planning and foresight is not their strong suit.

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    • froggyree
      12 years ago

      The fact that the Federal Reserve prints money is unconstitutional on the basis that no one other than the United States Treasury can print money. In all actuality the notes (bills of credit) are unconstitutionally being used as actual money! i cannot say without a doubt that the intentions of the congress were pure or not but the fact still remains what goes on today with the Fed is illegal.

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  • JustDave
    12 years ago

    Any chance you're a Glenn Beck fan?

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  • penpal21
    12 years ago

    You're still misinterpreting the Fed, it's role, the Treasury, and even what is and isn't money. But aside from that, man-up cupcake. The world doesn't care about your feelings. If you lay out a controversial opinion on topics others know something about, expect some push back and if you decide to dig in, screw up your facts, and post with a forceful tone you're going to take some grief for it. Grow up, quit your whining, or don't post somewhere people call others out on bullish*t.

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    • froggyree
      12 years ago

      Ok, my feelings are hurt here penpal...but you are right, I should man up my cupcakes! State the facts of your argument, you seem to be knowledgeable in this particular issue. If I am interpreting the Fed wrong and there notes are in fact money, what is it backed by? And who is our monetary authority in this country? You should already know this since you know about monetary policies, right?

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  • penpal21
    12 years ago

    LOL! GED candidate to legal scholar...There are so many factual misstatements here it's hard to know where to begin. If it's any consolation all the printing is done at the Bureau of Engraving and Printing which is part of the Treasury Department and the constitution doesn't stipulate what people can or cannot use as money. (In POW camps they routinely use cigarettes.) Anyway, not going to argue with angry idiots. Go get your GED and try reading something other than other angry idiots' online rants. When you think you're ready for the big time come back and see us. We'll be here. (Probably still laughing at you...)

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    • froggyree
      12 years ago

      Thanks for the angry idiot comment. That REALLY helped others who want to voice there questions and are afraid to because of those exact comments. The part about the treasury department and the constitution not stating what you can you use for TRADE is agreeably true but the fact is still relevant that federal reserve notes are not money. When YOU can prove to me otherwise come back, I'll
      be waiting. Until then hop off my scene!(that's an excellent place to start)

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  • froggyree
    12 years ago

    As a side note, the only thing federal about the federal reserve is that its board is chosen by the president and approved by congress. Other than that they can do as they see fit i.e private central bank.

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  • flax
    12 years ago

    Watch Michael moloney golfsilverdvd on YouTube (I think it's called that) it's 1:20 long and is pretty interesting stuff

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