Saturday, June 30, 2012

Econ Militia: What is a central bank?

Federal Reserve Interest Rates - Econ Militia: What is a central bank?.
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Econ Militia: What is a central bank? Video Clips. Duration : 5.50 Mins.


We had a good read. For the benefit of yourself. Be sure to read to the end. I want you to get good knowledge from Federal Reserve Interest Rates . Central banks used to be places where the government stored their tax revenues, and places which provided for credit with foreign governments. How is it we have changed the system so massively to the all-encompassing Federal Reserve System? When US Representative Ron Paul rails against the Fed, now you'll understand some of the reasons why. The Fed tries to control inflation and the GDP, has responsibility for unemployment and for maintaining an elastic currency, and they regulate banking and seemingly sit at the right hand of God. When Glenn Beck talks about a cabal of bankers, this is the cabal. To understand how such a bizarre, grandiose idea grew from such simple roots, it makes sense to look at the earlier central banks, and to understand the reasons for a central bank. It also makes sense to understand the traditional limits placed on a central bank, and the reasons such outspoken opposition often accompanies a central bank. Those opposing central banks for more than 150 years, including Thomas Jefferson, started rolling over in their graves in 1918, when the Democrats backed the Federal Reserve Act. When Rush Limbaugh says that President Obama is crippling the country, it's important to know how vital the Fed is to that process. Tell truth to power. Hear the real story. Think for yourself. Join the conversation at econmilitia.com.
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