Thoughts on these kinds of theories about the Fed? Would things be all that better without it?

youtube.com/watch?v=mII9NZ8MMVM
Thoughts on these kinds of theories about the Fed? Would things be all that better without it?

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Feels like they could make a couple edits and it would be The learned Protocols. Also none of it blames capitalism, it blames individuals and corporatism. Libertarian wank, explains why its so popular with US mongrels.

I honestly don't get the Autism about the Fed like legit there isn't a single state with a sovereign currency that doesn't have a central Bank…

But holy hell that video, I remember watching that during my early political radicalisation and it actually drove me towards anti-capitalism.

And it's telling that they idolize the spartans not of history, but from that explicitly fascist movie from Snyder.

It's "not weel gabidalism" bullshit founded in economic theory that is obscure outside of the US, where it only holds root because it melds well with American cultural biases, not because it actually makes sense.

who dat

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Its the typical "muh crony capitalism" nonsense.

Libertarians can only exist in a sheltered environment, they become fascist as soon as the world beyond is imposed on them.

The Fed is powerful and has grown more powerful but yeah right-wingers making a fetish out of the central bank is a very American thing. We live in capitalism and the central bank follows the aims laid down by Congress. But American burger retards think Congress = government and thus "not capitalist" and not what Congress actually is: the political arbiter for the total rule of the capitalist class.

Right now, the capitalist class' main aim is balancing the interests of the two big poles of the economy: the manufacturing + business sectors and the financial sector. The former wants growth and corporate profitability while the latter wants low inflation. To achieve this, the major capitalist powers have policy goals of keeping prices stable, maintaining globalization, keeping financial markets open and labor markets flexible, and keeping taxes low. The Fed's monetary tools here are very powerful and used to do this. Tools to do this include setting a basic interest rate (for borrowing), printing money, and controlling the amount of money in the economy by regulating how much money commercial banks must deposit in the central bank.

But I basically agree with the libertarians that the economy is mostly a fantasy propped up by low interest rates and cheap liquidity pumped into the corporate sector, but withdrawing that support is just going to crash the economy and we'll end up in a depression so RIP. That'll probably happen anyways though.

Back in the 1940s and 1950s there was a Fed but it didn't matter who ran it because it was just a check-cashing machine for the Treasury Department.

I'm not an economist though and this is just stuff I've read from economists who make sense to me (Marxists, mostly). Libertarians remind me of MMT types and others who come up with monetary schemes or blame the existing monetary schemes for what's wrong, rather than looking at more fundamental problems / contradictions in the capitalist economy although that's a whole other discussion.

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Sounds a bit simplistic to be honest

MUUUUUUUUUUUUUUUUUH FEEEEEEEEEEEEEEEEEEEEEED

yeah, there's plenty of left leaning libertarians that become full comrade after a decent education

That's because lolbertarianism is a simplistic ideology


that's an oxymoron

most college libertarians are only libertarians because "no war" and "legalize weed" with no economic theory besides capitalism is the least worst system

The Fed is what transformed the USA from being Cowboy land into what it is today. Similar to Lincoln conquering the South transformed the USA from a South American tier nation into a World Power.

Fractional Reserve lending is what allows people to have loans for homes without having to pay for it.

Basically without all of these people would have to work in order to have shit, which is good tbh because we want people to work, but it would mean getting rid of everything associated with modern day Capitalism which is against Marxism

Central banking is the sole thing that prevents crisises of capitalism from being fatal each time they happen. Ironically support lolberts in abolishing reforms that keep capitalism alive.

That video was in a roundabout way is saying Jews did it.

I was a left leaning lolbert before i gradually drifted to marxism

well technically it's saying the nwo/illuminati/rothschilds did it
modern right wing lolberts are quick to point out that distinction so they don't seem antisemitic
which is even more idiotic considering they put out videos like this where they show how easy it is for an nwo to form in a free market
at least saying we gotta kill jews cause white ppl would never do that would be logically more consistent than saying we gotta go back to gold standard even tho it's super easy for the nwo to revert those changes

stupid
the worst part about fed conspiracy theories is when non-yanks try to generalise them. there's a lot of problems with the financial system (and federal reserve policy is often wrong) but central banking conspiracy theories and the idea of fractional reserve banking are both memes.
this becomes especially clear when you remember the bank of england (and a great number of central banks) are nationalised. any money made by the BoE goes straight back to the treasury.

the next worst part is that central banks are usually blamed for inflation eroding purchasing power, rather than the excessive interest rates of the 1980s. the problems of the present are down to insufficient growth in wages, not excessive inflation. (though there is a case for raising interest rates at current. although it would lead to unnecessary unemployment, it would also reduce wasteful borrowing for noninvestment in silicon valley nonsense.)

Lol what, the Chicago school dominates the whole world except for China.

Nah, Libertarian Socialism is way older and way more popular. Libertarians get a bad rap in the US only because of the Libertarian Party.