With talks of the government nationalizing some of our banks, I am wondering who will run these banks. Isn’t the idea of nationalizing a bank to rid the banks of the current management? Which Washington elected or appointed government official/co official/nonofficial will run these banks?
Now that I got that off my chest, I want to talk about the Federal Reserve. The ‘Feds’ have been trying to turn paper into gold. One would think that they are in the business of alchemy. How many times have you heard your parents or maybe you have even spoken these words to your children, “Money doesn’t grow on trees!” Oh, really! Why aren’t leaves used as currency? Is it because there is an abundance of them and that would make those leaves of no value just as our abundant currency is of no value today. Scarcity is the key to something of value.
Historically, societies have relied on monetary systems where currency used in trade was either composed of a physical commodity (such as gold coin—see commodity money) or was exchangeable for a predetermined amount of a named physical commodity, making it a representative money. The represented commodity could be a precious metal such as gold, silver, or copper, although some economies have had money that was redeemable for a fixed amount of other commodity items such as crops, beasts of burden, or food
How many of us really know about or how the currency system works? There is too much for us to know everything. Isn’t that why most of us put our confidence in those that are versed in their specific field? We trust that they will administer to, educate, inform, and enlighten us using ethical and moral principles and without propagandizing. How many of us take what is told to us as fact?
We should go beyond what we hear. We should use our ability to recognize and evaluate different points of view. We should our use ability to reason.
Love, loathe, or be indifferent to Glenn Beck but I found this video to be interesting. These right wing and left wing conspiracy theorist, as some would call them, get me thinking about things. Then I go and do my own research. Watching this video got me thinking about how the history of the Federal Reserve, etc. and how they operates.