9 responses to “How The Federal Reserve Bought The Economics Profession”

  1. longshotlouie

    Short interview explaining how, in less than two generations, we went from the greatest creditor nation to biggest debtor nation:
    http://live.radioamerica.org/loudwater/player.pl?name=wnd&url=http://feeds.radioamerica.org/podcast/DWP/audio/000007_012681.mp3

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    1. sean

      I’m pretty sure that we went from the greatest creditor nation to the biggest debtor nation because we have had an 11 trillion dollar trade deficit over the past 25 years. That’s 11 trillion dollars that we could of credited out, but instead we have to borrow it back.

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      1. sean

        Yes we would have a greater savings rate as individuals if we didn’t have to pay taxes, but no it would not improve our savings rate as a country. The money we pay in taxes stay in the country, where as the money we trade off for goods overseas will be lost and not available for us to use. We would still have a net loss of 11 trillion dollars.

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  2. Doc Merlin

    We need to stop calling it “central banking” and start calling it a “state monopoly banking.”

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  3. VR
  4. longshotlouie

    ‘Paul and the Klan wrong on the Fed’ ??????????

    http://galvestondailynews.com/forums.lasso?eda=c3dacab89eddf791baff4321f0555e33&eti=d3e0d9decab08745&edi=afbc928d23d0f1d3&emi=37b94b2f09a6db18

    Please let these folks know how you feel.

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    1. Mike

      You should of posted the link with the actual article.

      “I work as a money manager for a pension plan that is associated with a faith-based organization. I have come to the conclusion that our Federal Reserve and its chairmen, both past and present, are the only part of our government that truly works in the best interests of Americans.

      While we may not always like what they do, they have the freedom to look past the next election cycle and to attempt to do what they feel is best for our country.

      I don’t think that can be said of any congressperson; after all, politics is a dirty business.

      If Paul is successful in his pursuit to disclose the Fed’s activities to the public, he will have politicized the agency and, therefore, stripped it of its effectiveness.

      For example, if the Fed published which banks have accessed its discount window, we would have a wave of bank failures because depositors would have a run on these banks.

      This is very dangerous to our nation. In effect, this legislation will do to our monetary system the same thing that President Obama wants to do to health care.”

      -Lance Patterson

      http://galvestondailynews.com/story.lasso?ewcd=f0b0072a7bc382a6

      »crosslinked«

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      1. longshotlouie

        The article was at the top of the page.

        Thx for the help.

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  5. longshotlouie

    Now at 287 co-sponsors in the House.

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