the Fed Rserve and our Fed Gov...

[chefdennis]

When our Fed Gov worked with the "bankers" to establish the Fed Reserve and put it in charge of our money, it was said that the biggest reason was to "stabilize the value of the dollar"....so...

1n 1907 silver sold on avg for $.55 an oz...$.55 on avg would buy 9.2 gallons of gas....

In 2011 silver is selling on avg for $37.00 an oz....$37.00 on avg will buy....9.2 gallons of gas.....

Looks like the Fed Reserve and our Fed Gov hasn't done what they said was ther purpose (whats new with that)....so has gas along with most consumer goods really increased in price all that much..Kinda looks like the value of the dollar has gone in the bucket and continues to do soo...so who is sooo creedy !?!?

 

[greg334]

What's your point? this is econ 101 and financial history 101 stuff

The problem is not with the fed but with the fact that congress let it loose to make it's own decisions and has yet to actually bring to task the fed's actions all within congress's authority to stop the BS within the fed that brings our dollar lower every day.

 

[chefdennis]

chef wrote:

Looks like the Fed Reserve and our Fed Gov

I guess you missed the bold red words in the 1st post..so maybe you can see them now....since i said "FED GOV" all you did was re-enforce what I posted with your condesending reply...

curmudgeon.... and that is being PC....as was pointed out by another poster here, "your replies are becoming 'nauseating", no they "aren't" becoming, they ARE....

 

[greg334]

Well Dennis, you seem to have left a donut for the original post and left it open to interpret that either you are listening to Rush and Hannitty too much or just don't want to put an effort into actually explaining what in the hell you are talking about.

Because we have three parts of the federal government, a federal reserve and then the states also have a say into a lot of this, all I did was to focus on the actual problem - our congress without explaining why.

Why is simple, many of us are too lazy to think for ourselves and too many depend on entertainers and bloggers to tell us what we should think and what emotion we should have instead of making an effort to educate ourselves about how things work. We are too dumb to understand what people are talking about when a few of us say interest rates need to be high (I have noticed that not one has posted a legitimate argument against what I have said) and the fed needs to stop messing around or that what Obama said the other day isn't important as what congress didn't do this week but alas the people need to step up and get a frickn' grip on reality - which is the mess is our own fault and many are driven by the hatred of Obama and only Obama ... wow that's just like the Bush administration but now we have Hannitty, Rush and a bunch of others analyzing Obama's every move including his bowel movements to find something to stir up the dumbmasses among us (maybe Rush or Levin can have Gillian McKeith on their show to explain his loose stools).

But as I read the OP, I wonder how can someone actually make sense out of the post when you made this rather odd observation "Looks like the Fed Reserve and our Fed Gov hasn't done what they said was ther purpose".

Really?

What did they say was their purpose?

I mean are we talking about 1913 or 2011?

Are we talking about the ancillary programs that have been added to the Fed's arsenal of weapons against freedoms or are we talking about the changes to how congress seems not to care more and more about things outside of campaigns?

What is it?

Can we honestly compare the two prices without understanding how both of the commodities are used, bought and sold?

Not really.

Mainly because Oil is no longer a US based traded commodity but a world wide one and Silver is no longer a standard for currency in almost the entire world.

I listened yesterday to Rush, I was a captive at a truck dealer and I thought I was listening to Air America because he said the dumbest thing I have heard him say yet - the fault of the gas prices are because of the policy of the administration. How many times since I have heard this repeated and no where did anyone explain exactly why.

Also just to add this, I actually don't give a crap about your little attack on me, you seem to fall into that little clique of people who seem to be running around here repeating things a bit too much. I've defended you in the past with your lack of commentary posts with off site information and will continue to do so but really get a grip on things.

 

[Pilgrim]

Just for the sake of perspective, here's some other costs for food in 1907 - location, Morris County, NJ.

Bacon, XXX boneless, .15/lb
Bananas, .05/dozen
Baking powder, .20/lb
Beans, .08/quart
Beef, corned, .04/lb
Beef, rib roast, .10-.12/lb
Butter, .27/lb
Candy, caramels, .30-.40/lb
Cereal, puffed rice, .25/3 pkgs
Chicken, .18/lb
Corn, .05/can
Coffee, Hotel Astor, .35/lb
Crackers, National Biscuit Company, Uneeda, .10/2 pkgs
Cranberries, Cape Cod, .10/quart
Cream of Wheat, .25/2 boxes
Eggs, .25/dozen
Fish, bloaters, .05/2
Fish, salt herring, .20/dozen
Flour, Christian's XXXX Minnesota Patent, 5.15/bushel barrel (bbl)
Ham, California, .11/lb
Jelly, apple, .22/5 lbs
Ketchup, .25/3 bottles
Lamb, forequarters, Canadian, .09/lb
Lentils, .12/lb
Margarine, Cottolene .09/lb can
Oats, Quaker, .25/5 lb pkg
Onions, fancy yellow, .40/half bushel basket
Oranges, navel, .25/13
Oysters, .35/quart
Rice, puffed, .25/3 packages
Soup, Campbell's, .25/3 cans
Tea, India Ceylon, .25/lb
Vinegar, .10/bottle
Worcestershire sauce, S & S, .17/pint

See the link below for other common items
Morris County NJ historic price survey 1907-2007

All this supported on an avg wage of about 22 cents per hour.

 

[chefdennis]

LOL, most people understand we have 3 branches of FED GOV and while i may give some too much credit for knowing which branch does what, in general, most do..so the "blanket" Fed Gov" does fine...

Which are we talkin?? I stated 1907, so its pretty safe to figure , that what i was referring to.....

Now, since this didn't come from the rush or hannity or even glen beck or levin...i guess your assumptions are wrong huh....I also read ....

As to all of the ancillary bs (all the while factual) you threw out , my point and i am sure that most all got it, and yes it is basic econo 101 so that would lead me to believe even most here understand that our fed gov and helicopter ben are killing the dollar while comsumer products haven't really increased as much as they would have us believe....and yes before you bring it up, its been going on for alot longer then barry and ben... they are just the current group and doing it at an accelerated pace...

As for personal attacks, sorry, just obsevations, and if i were the only one making the observation, you'd have a bytch , but i am not alone and they have also being made known...

curmudgeon....

 

[blackpup]

Is this what the Federal Reserve is trying to accomplish ?

Trying to Inflate Our Way Out of Debt Is Like a Monkey Trying To Outrun a Lion → Washington's Blog

Several interesting quotes shown here from different sources.

"Ben Bernanke and Paul Krugman apparently think we should force inflation on the economy. University of Oregon economics professor Tim Duy thinks the U.S. will ultimately try to inflate its way out of debt."

Warren Buffet says:

" A country that continuously expands its debt as a percentage of GDP and raises much of the money abroad to finance that, at some point, it’s going to inflate its way out of the burden of that debt."

More quotes,information,theories, in the article.

jimmy

 

[greg334]

LOL, most people understand we have 3 branches of FED GOV and while i may give some too much credit for knowing which branch does what, in general, most do..so the "blanket" Fed Gov" does fine...

Not according to some right here, many think that the president can spend money, make laws and declare wars. Maybe too much credence is given to an assumption that many can think.

Which are we talkin?? I stated 1907, so its pretty safe to figure , that what i was referring to.....

Umm.... yea right .... learn how the fed got started, who were the key players and what the time line was involved. We came out of a depression of sorts in 1907, the fed was created in 1913, when Wilson and others renewed the war on freedom.

Now, since this didn't come from the rush or hannity or even glen beck or levin...i guess your assumptions are wrong huh....I also read ....

Well seems that crowd has been talking about the fed and they are the ones who many follow - those are the leaders of many ...

As to all of the ancillary bs (all the while factual) you threw out , my point and i am sure that most all got it, and yes it is basic econo 101 so that would lead me to believe even most here understand that our fed gov and helicopter ben are killing the dollar while comsumer products haven't really increased as much as they would have us believe....

AND?

I mean ok they haven't increased but so?

Do you want gas to actually cost when it is adjusted for yesterday's dollar? Like $9 a gallon?

What many tend to forget with gas is the base price is not what is counted but the end price with state's taxes included - some we never had until the last 40 years.

and yes before you bring it up, its been going on for alot longer then barry and ben... they are just the current group and doing it at an accelerated pace...

Yep a lot longer and the one who did a lot of damage was Reagan, not Obama. The same holds with Nixon and others along the line, Bush being the least visible but the one who actually put the people we have in place WITH the nearly the SAME policies that Obama is using - not much has changed.

If you want to talk about acceleration, a so-called conservative congress under Newt and later with Bush accelerated a lot of bad stuff, mainly with the credit and housing markets but also with a serious lack of oversight.

The one thing that independent people do fear is this idea that conservatives are the ones to be fiscally responsible but they seem to know that reality is quite different, they know the conservative congress screwed the country much more than what is being claimed by those who dislike (hate) Obama and that is illustrated by those within the party who are sooooo willing to compromise. These so-called conservatives actually fail the fiscal test and there is a great divide among republicans because of the new blood fighting the conservative attitude in the party. Too bad it won't last and we will still have the Obama man in office to my disgust.

As for personal attacks, sorry, just obsevations, and if i were the only one making the observation, you'd have a bytch , but i am not alone and they have also being made known...

curmudgeon....

Well if want to sink to that level, go for it.

 

[chefdennis]

See greg, that response wasn't half bad...no condemdation or smart azz I know better then you, well a little but not enough to raise to the level you have been doing as of late, and yes I know the history of the Fed and the progressives that started it

Now, I think the new blood will make a difference and while it might not be that theu get their way with the old dog conservatives with this current spending bill (budget),,they will influence it more then I think you are giving them credit and they will be a force in enough time to influence the 2012 election and I don't think barry wins re-election....I maybe wrong on that lat part, but I don't think so...between the new blood making he attempts to show that they are "trying" to do what they told the voters they would and with the economy getting worse (cause it is going to happen) barry is a 1 termer....