thesometimesaint Posted April 10, 2016 Posted April 10, 2016 18 hours ago, Vance said: Nobody makes up the difference. Because there is no difference to make up. The Gov got their money from the consumer, one way or the other. The government prints the money.
pogi Posted April 10, 2016 Posted April 10, 2016 (edited) 1 hour ago, thesometimesaint said: The government prints the money. No they don't. The Federal Reserve prints our money. The government gets their money from the consumer, or they borrow it and pay interest to the Federal Reserve. Edited April 10, 2016 by pogi 2
thesometimesaint Posted April 10, 2016 Posted April 10, 2016 The Federal Reserve is a quasi governmental bank under the authority of Congress, and the President.
BookofMormonLuvr Posted April 10, 2016 Posted April 10, 2016 The personal conclusion I have come to: An economic system developed by a righteous and free people now matter how ill-conceived will work out and prosper. The best economic system possible developed by an unrighteous nation is doomed to failure. The system doesn't matter, the hearts of the people does.
Vance Posted April 10, 2016 Posted April 10, 2016 2 hours ago, thesometimesaint said: The Federal Reserve is a quasi governmental bank under the authority of Congress, and the President. Correct. Quasi, meaning "resembling" or "seeming" or "virtual", but not really. According to wikipedia (yeah, I know it isn't the most reliable) Quote The Federal Reserve System's structure is composed of the presidentially appointed Board of Governors or Federal Reserve Board (FRB), partially presidentially appointed Federal Open Market Committee (FOMC), twelve regional Federal Reserve Banks located in major cities throughout the nation, numerous privately owned U.S. member banks, and various advisory councils. A whole lot of NON-government going on in there.
thesometimesaint Posted April 11, 2016 Posted April 11, 2016 21 hours ago, Vance said: Correct. Quasi, meaning "resembling" or "seeming" or "virtual", but not really. According to wikipedia (yeah, I know it isn't the most reliable) A whole lot of NON-government going on in there. Definition number two is closer. SEE http://www.merriam-webster.com/dictionary/quasi 2 : having a legal status only by operation or construction of law ...
Vance Posted April 12, 2016 Posted April 12, 2016 8 hours ago, thesometimesaint said: Definition number two is closer. SEE http://www.merriam-webster.com/dictionary/quasi 2 : having a legal status only by operation or construction of law ... Ok, so it is a non-governmental institution created by Congress. So what?
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