Reserve Currency
Posted By: Truthseeker on 2009-03-26
In Reply to: Seriously? - Zville MT
A reserve currency is currency that's held by governments for foreign exchange and as a common pricing index for commodities like oil, gold, etc. Holding currency in reserve allows governments to purchase commodities without having to exchange their countries' currency or pay transaction fees when purchasing commodities. Since the end of WW 2, the US dollar has been the default global reserve currency with about 2/3 of foreign exchange reserves throughout the world held in US dollars.
Geithner obviously should've considered what he was saying when he said he was "quite open" to China's suggestion to displace US dollars as the global reserve currency with a new international reserve currency. However, the geniuses at Drudge and Fox News, including Glenn Beck, have interpreted this as a step toward a UN-imposed global currency and a world government.
Rep. Michele Bachmann (R-Minn) who embarrassed herself at Geithner's House hearings earlier this week has now introduced legislation that would "bar the dollar from being replaced by any foreign currency" and to ensure that "the US dollar remain the currency of the United States," which has absolutely nothing to do with what Geithner was commenting on or what was proposed. Congress can't legislate what currency foreign countries choose to hold in their reserves.
Geithner needs to understand that everything he says has a potential global impact and that folks with an agenda are going to misinterpret and distort what he says.
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- Seriously? - Zville MT
- Reserve Currency - Truthseeker
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Sort of like Confederacy currency?
The economic summit was held behind closed doors. The politicians on both sides are probably gleefully aware that the American people are so busy blaming Democrats/Republicans they can't take time to see what is really going on. BOTH parties are to blame. I expect Bush made a deal behind closed doors and he'll pass it off to Obama who will continue. My opinion is we are no longer a free nation, we just haven't been informed of the new rules yet. He who has the gold rules and the foreign nations certainly have the gold. I don't personally expect Obama to make any great change, I just hope he will change some things that he can which might actually benefit the middle class but I honestly doubt it. WE, the "sheeple" have let this great country get in this condition and WE are going to have to fix it...if it isn't too late. I expect our forefathers are turning in their graves because of how we've squandered the freedom they fought and died to give us.
Federal Reserve
The world central banks are printing money like crazy to try and free up the markets. E-mail congress and tell them the Federal Reserve is not elected by the people and should not be allowed to devalue our currency by printing it out of thin air until it is worthless. This is way past republicans and democrats now. Call or flood them with e-mails and get Congress to protect us.
fed reserve names
http://newsfromthewest.blogspot.com:80/2008/05/who-owns-federal-reserve.html
Hasn't really changed much.
nite nite
Oh please.......that's now the Federal Reserve
I said last night these were very old families, especially the Rothschild who have very deep deep filthy rich pockets and contribute greatly to the Federal Reserve and that this goes all the way back to England and British rule in the early 1900s. You act as if you found something no one else could find.
This is not news, maybe just to you or those who don't have a clue about the Federal REserve and I can guarantee you most liberal dems running their mouth on here didn't have a clue about the Fed Res....probably thought it was part of their government. And I hope this litle chart has clarified everything for you, which wouldn't surprise me, because you should already know the Rothschild family is part of this....it's who the others are that are kept quiet. They are listed as the Bank of England. You really need to understand where the Fed Res comes from, the fact that we have never really broken free from England. Someone asked last night about JP Morgan and why he was the beloved son or something, well, gee, get a clue. Look where his family comes from, their contributions to this country alone, and their very deep pockets. Those you will never know the names of put out little pawns in this country, i.e., JP Morgan and let them do their bidding. Unfortunately, they got greedy but don't think for a minute the Feds didn't know this was going on...they had to have known. The bigger question is what are they planning in order to continue to lower rates, allow these institutions to offer such fraudulent loans in the first place, taking advantage of anyone and everyone who walked through their doors.
If you knew half as much as you think you do, you would have realized a long time why Ron Paul has begged to abolish the Federal Reserve in this country, to disallow it to ever rule this country again, as it has done for soooo long. We are being ruled by an elite few, who pull the strings of every government they have their hands in.....is that what you want? That isn't a free country my friend...that is British rule.
How much crow shall we reserve
x
Federal Reserve folks......
Stop throwing accusations at one another and blaming whatever party on Capitol Hill you hate!!!!!!!!! All this blame game crap is absolutely nauseating..... all parties have been part of the government since way back when. The parties in Washington at this moment had absolutely NOTHING to do with the situation at hand......the problem started decades ago with an absolutely desperate president who started up the Federal Reserve program, trying to coax people into believing their money was safe to put in the banks after the banks collapsed. They were lulled into a false sense of security in hopes they would start putting their money back in the bank and being told their government would guarantee it.........nothing to do with rep or dem, just a desperate president at the helm at the time and all those idiots who should have known better but let it continue nonetheless.
The corrupt companies in this fix now have been allowed to go this route because of an institution that was started up a looooong time ago, this just didn't happen overnight or a few years.
http://video.google.com/videoplay?docid=-466210540567002553
You really need to google Federal Reserve
Sorry you're that drawn in by Fox news or think everyone else is, but you probably need to understand that just because posters may be more educated than you on some things, i.e., the Federal Reserve, doesn't mean you can't educate yourself. Now, granted, it will take more than 5 seconds of scant reading because this institution goes back a long ways, but more than likely you will hear those words "Federal Reserve" mentioned time and time again. They are the reason we are in this mess.
You will probably hear a LOT of economists preaching this....they should know; this is what our economy leans on instead of our own two feet. You need to understand who has been running the show behind the scenes for decades.....it ain't rep or dem; it's the Federal Reserve and it should never have happened!!!!
Federal Reserve....... I have done my homework
The Federal Reserve is not a bank...it has absolutely nothing to do with government, though it does run our government as well as many governments throughout the world. The Federal Reserve is made up of very deep filthy rich pocket individuals. Just try to find the names of those that make up the Federal Reserve....you can't. You can only find their board of governors. Our President does elect the chairman, in this case Bernanke. Fed Res is a private central bank that decides everybody's interest rates. The history on that is a good read and sickens me frankly, because it is a deceitful organization with a corrupt history. NOBODY owns the Federal Reserve except those you will never know of.....these families go back to the days of British rule, though by carefully reading, you will get the picture of who those families are.
Paulson worked for Goldman Sachs among being elected to other high boards (and has very close ties with China which scares the crap out of me); don't know what he really has going with them, so everyone should be concerned there, as half of the billions they have taken from us are now going to foreign investors/countries....why? No foreign country is going to pay us if we invest and their country fails to profit.
JP Morgan was a very powerful banker and during his time alive, he helped combine GE and actually financed steel companies in this country which created a huge economic boom for this country when it really needed it, so he basically is considered a man who saved the US economy and more imporantly, the US government on at least two occasions. This is a man who dates back to England, where his dad was also a wealthy banker, so like I said, we have always had strong ties with British banking since we tried to break from the British rule. Morgan's contributions to this country go way back and are really good ones, so he has handed down quite a good legacy. He even helped our railroads succeed. He is responsible for establishing U.S. Steel, so you can see why this company is basically gold to many. Matter of fact, he helped sell push gold to keep this country afloat. His life is a good read as well.
Now, common sense dictates why Citigroup is fighting with Wells Fargo, even though Wachovia did agree to sell to Citigroup to begin with. That's the behind-the-scenes deals that you will never know the truth about. As far as FDIC, the Federal Reserve was pushing for it, but our government did NOT want to make any financial guarantees of funds. THere is a block on that buyout for a good reason; if this took place, with a sell to either Wells Fargo or Citigroup, this would put the US citizens' money in the hands of three banks, Bank of American, JP Morgan, and whoever bought Wachovia. Whoever buys Wachovia would literally own 30% of the banking industries profits (bad, bad, bad). If only these three banks exist, they would dominate the banking industry and would have so much power that they could set their own prices for loans and services. I'm sure then stricter federal regulations would be placed on them but no doubt then the smaller banks would be so squeezed, they would have to look for buyers as well and guess who would buy them then? Wah lah....a monopoly will be formed......
So, in answer to your question, the banks don't own the governement, the Federal Reserve owns the government and always has since Roosevelt's days back in 1913. That is why those of us who understand how wrong it is for the fed res to even exist, want it abolished. Ron Paul has brought this before the floor on many occasions, to many deaf ears. Now, ask yourself why that is. Mostly, because most those nitwits don't have a clue what the federal reserve is, where it came from, and what it does.
So when you end up with just three banks, look out folks!! This has happened before with three central banks in our history and they all participated in fractional banking...creating money out of thin air.....sound familiar?
So if you want to solve this problem, blame the Federal Reserve and petition your government to abolish it NOW. I beg everyone to please do your homework on the Federal Reserve and when you think you could puke knowing the corruption of it all, then here is a site for a petition to sign to abolish it. Ron Paul has been all over this for years. President Andrew Jackson abolished the first version of a centralized governing bank. Thomas Jefferson could see this coming.....
Thomas Jefferson said, "If the America people ever allow private banks to control the issuance of their currencies, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all their prosperity until their children will wake up homeless on the continent their fathers conquered." This is serious business folks!!
http://www.petitiononline.com/fedres/petition.html
I will reserve any opinion on the Ayers thing...
until the documents are made public that Columbia University just released regarding Ayers and Obama. Obama may have been 8 when Ayers was active, but just looking at the people Barack was connected with during that time I don't entertain any doubts that he knew exactly who Ayers was and what he had done. If it was in the past, that's one thing. But the man still says he is not a bit sorry that he did what he did. And if he has Obama's ear in any way...that would be a problem for me. But, that being said, it would just be one more thing, because I am not voting for him anyway.
With all due respect, the last few years have been under a democratically-controlled congress, and it has been in the last few years that things got really bad. Not saying it is all their fault, but they certainly haven't done anything to try to fix it. If they are going to be able to suddenly miraculously fix it if a Democrat is elected...all that tells me is that they are dragging their feet at our expense. The American public knows that...that is why Congress' numbers are lower than Bush's.
As a matter of fact, things are going pretty well for my family and my neighbors. The biggest thing, of course, is gas, but I remember when Clinton was in office we had a really LONG run of household fuel (for oil furnaces) was higher than it is now. I am not saying it was Clinton's fault because I don't think turns in the economy are any one man's fault. It is up to Congress to fix that sort of thing, not sit on their hands during a political season. I would be saying the same thing if it was a Dem administration. Has nothing to do with the party, it has to do with a lazy inactive Congress...which is, of course, made up of folks from both parties.
As to endless war...this country has had soldiers in other countries during most administrations since Viet Nam...Clinton had them in Kosovo and Somalia. Might have been "peacekeeping missions" but Americans still died there. And by the way, McCain did not say that the war in Iraq could go on for 100 years. What he said was that there might be an American presence there, like bases. We still have bases where we fought many wars. We had bases in Germany for many years. That has often been misquoted. That being said, he is not my favorite either; however, he fits the bill, for me, better than Obama.
In deference to my erstwhile fellow posters, I will not go into the abortion issue. :-)
The only thing I know about social security and wall street is it was proposed that if someone wanted to, they should be allowed to have control of their social security money and invest it if that was their choice. I have never heard anyone say it was mandatory. Personally, I would like to have control of mine to put into CD's where Congress couldn't raid it to pay for other things. If we had privatized it before, it would still be there because Congress couldn't have gotten their grubby paws on it to "borrow" it. Which, by the way, was done during a Democrat administration.
As to the celebrity and all that, I don't pay attention to attack ads on either side. I have seen some from Obama's side that are pretty harsh and about as silly. I wish they would both stop that stuff and stick to the issues...but that is just me.
Is Anyone Minding the Store at the Federal Reserve?
05/08/09 Rep. Alan Grayson asks the Federal Reserve Inspector General about the trillions of dollars lent or spent by the Federal Reserve and where it went, and the trillions of off balance sheet obligations. Inspector General Elizabeth Coleman responds that the IG does not know and is not tracking where this money is.
The Federal Reserve is not government related....
nm
Bush didn't create the federal reserve......
xx
Wow! You'd better go back to school. The Federal Reserve System is definitely
Perhaps you're thinking of Freddie Mac or Sallie Mae...or the Post Office, maybe?
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