the idea of money is crazy

[bu villain]

100% false

FED RESERVE was 1913, Great Depression was the 1930s. The Federal Reserve CAUSES the booms and busts, the Fed Reserve was around during the great depression, it was formed BEFORE.

Not false, I never said the Fed was created in response to the Great Depression, I said it was in response to depressions (not necessarily the Great one) and panics and I stated it was started in 1913, so obviously that was before the Great Depression as well. As I alluded to and blank.cd explicitly stated, the Panic of 1907 was the primary driver of the Fed creation. But the Great Depression wasn't our first economic depression.

80 years? We went off the gold standard in the 70s.

I know I don't have to tell you this but 1933 is when citizens could no longer redeem paper dollars for gold. You may remember the government actually forced people to turn over their gold. The 1970s date you are referring to is when we stop letting foreign governments exchange dollars for gold. Obviously the 80 years I referenced is about our domestic policy since that was the much bigger factor as foreign governments pretty much always wanted more dollars, not more gold.

What has happened to the national debt since then?

What happened to the US dollar since then?

That is more a factor of spending policies than the Fed. Even a country on the gold standard can borrow and spend money it doesn't otherwise have. Obviously we have had a national debt well before we got off the gold standard.

The FED is the one artificially controlling the market, it created the 2008 BUST, it created the tech bubble, it created the 90s recession, the carter recession. I really think you guys dont know history. We boom and bust about every 10 years.

Yes it is artificially controlling the market. That's the sole purpose it was created for. I don't follow your logic on how the Fed created those bubbles/recessions. How did the Fed force people to dump their money into Pets.com? Yes, boom and bust is part of capitalism. The Fed's job is to help make those booms and busts less extreme and thus less damaging.

There were MASSIVE bank runs. Are you just trolling or selective memory?

Neither. There were no banks runs that threatened the whole financial system. Banks went out of business because they bet on CDO's and the like, not because too many people wanted to cash out their checking accounts.

The only difference is banks were given TRILLIONS of dollars to remain open, than at the FDIC bailed most consumers out. The only difference between 2008 and 1930s were that we had trillions to artificially print, in the 1930s, we couldnt because we were tied to the gold standard.

And that's the best argument for why we need the Fed. 2008 would have been a lot worse if we couldn't manipulate the money market to ease the pain. That's exactly why in 1933 citizens could no longer exchange dollars for gold and gold was being taken by the gov.

you traded 5-10 years of hardship, for 20 years of mediocrity.

Yes exactly! That is the entire goal.

The Federal Reserve tries to control the currency by injecting fake money into a system. When the dow plummets, they throw 5 trillion in fake money into the system. Which is why you are seeing massive food price spikes, gas prices rising , consumer prices going up, most of the money is still parked on the side, but eventually, itll make its way back into the economy. They cant just make it vanish

Actually some of the money can just vanish. Lots of the money "printed" never actually gets physically printed and it doesn't go into circulation. It is simply a number on the ledger for bank reserves which allows the banks to lend out a portion as loans. Once the loan is repaid, you don't have to keep the "printed" money on the ledger anymore.