General Discussion

Octafish

(55,745 posts)

11. Time to Make the Fed a Public Utility

Reply to 1939 (Reply #7)

Sun Sep 6, 2015, 11:33 AM

Sep 2015

The Treasury’s website reports the amount of interest paid on the national debt each year, going back 26 years. At the end of 2013, the total for the previous 26 years came to about $9 trillion on a federal debt of $17.25 trillion. If the government had been borrowing from its own central bank interest-free during that period, the debt would have been reduced by more than half. And that was just the interest for 26 years. The federal debt has been accumulating ever since 1835, when Andrew Jackson paid it off and vetoed the Second U.S. Bank’s renewal; and all that time it has been accruing interest. If the government had been borrowing from its central bank all along, it might have had no federal debt at all today.

-- Ellen Brown

http://www.counterpunch.org/2013/12/23/time-to-make-the-fed-a-public-utility/

Which would make a good start.

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"The Fed's top priority is making sure the cards remain stacked against wage and salary earners." [View all] kpete Sep 2015 OP

The Fed is by, for, and of the 1%-no others need apply. hobbit709 Sep 2015 #1

bernie got the fed audited questionseverything Sep 2015 #26

It's becoming frustrating... Chan790 Sep 2015 #2

If you burn it down, what are you going to replace it with? A HERETIC I AM Sep 2015 #8

How does a publicly sulphurdunn Sep 2015 #12

Fine, but it still has to perform the functions the Fed does now. A HERETIC I AM Sep 2015 #16

The Fed is an autonous entity. sulphurdunn Sep 2015 #18

Do YOU? WinkyDink Sep 2015 #19

Uh huh. Yup Sure. A HERETIC I AM Sep 2015 #20

Damn you FDR! VanillaRhapsody Sep 2015 #3

? questionseverything Sep 2015 #22

FDR bailed out the Federal Reserve.... VanillaRhapsody Sep 2015 #23

yea fdr propped it, was just going back to the 1913creation questionseverything Sep 2015 #25

"propped it up" VanillaRhapsody Sep 2015 #28

Know Thy Enemy - Oligarchs, Corporations And Banks - The 99% Are Mere Chattel To The 1% cantbeserious Sep 2015 #4

This is where the real tension is coming from between normal people and the Status Quo Hydra Sep 2015 #5

Ha ha. It is to laugh. Octafish Sep 2015 #6

What steps should the Fed take within their powers to increase wages? NT 1939 Sep 2015 #7

Time to Make the Fed a Public Utility Octafish Sep 2015 #11

Agreed. sulphurdunn Sep 2015 #13

Somebody somewhere was hoping We the People wouldn't notice. Octafish Sep 2015 #15

Sorry, but Ms. Brown doesn't know what the fuck she is talking about. A HERETIC I AM Sep 2015 #24

She makes sense to me. Why do you say that? Octafish Sep 2015 #27

First of all, it isn't a private bank. A HERETIC I AM Sep 2015 #30

Of course it is. lark Sep 2015 #9

In working in the Aircraft industry.......with a A&P certificate held....starting pay... turbinetree Sep 2015 #10

B-u-u-t-t, sulphurdunn Sep 2015 #14

And whats really classic................................. turbinetree Sep 2015 #32

Monetary policy is ineffective in this economy. Keeping interest bbgrunt Sep 2015 #17

Precisely my point 1939 Sep 2015 #29

Greenspan thinks skilled U.S. workers are paid too much. DirkGently Sep 2015 #21

Maybe they are counting all the outsourced wages.... Marrah_G Sep 2015 #31