no offense dude but thats got nothing to do with it.
eliminating the drug war should be a priority. but not before cutting spending. you need both of those to start getting us out of the shit hole.

it won't provide near enough. not at all. you need to wake up dude.

Then maybe you can tell me why 3 former chairmen of the subcommittee on banking and currency have wanted to abolish the FED?

Maybe because they were denied or disparaged a chairmanship of a full committee.

How many of those politicians (who have also given us a drug war that is "not worth a continental") were also economists.

Why didn't those same representatives to government give full faith and credit to standing decisions of their predecessors or made suggestions for improvement that would have precluded our current "crisis"?

The Fed runs our entire monetary system. The System is horribly flawed. The fed creates money out of thin air in more ways then one. The Government requisition for funds is just one way. There is also fractional reserve lending, which, in our credit based economy creates much of our inflation through the creation of new money. The fed sells U.S. treasury securities on the open market with no oversight by the gov. It creates money through re-purchase agreements, term auction facility, the discount window and by reserve multiplying. They can also make huge profits simply because they know what they are going to set the interest rate at. They have Carte Blanc and have run the Dollar into the dirt.
The fed is the key to ending the drug war, our foreign wars of conquest, The welfare state, bringing back a enviroment that you can save money in. The drug war is a symptom. The fed made it possible, it is the root.

__________________
It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford

Good post.

While it is possible to end the war on drugs without repealing the FED, the US will never be it's own master until we are rid of the FED once and for all.

"[The] Bank of the United States... is one of the most deadly hostility existing, against the principles and form of our Constitution... An institution like this, penetrating by its branches every part of the Union, acting by command and in phalanx, may, in a critical moment, upset the government. I deem no government safe which is under the vassalage of any self-constituted authorities, or any other authority than that of the nation, or its regular functionaries. What an obstruction could not this bank of the United States, with all its branch banks, be in time of war! It might dictate to us the peace we should accept, or withdraw its aids. Ought we then to give further growth to an institution so powerful, so hostile?" --Thomas Jefferson to Albert Gallatin, 1803. ME 10:437

The Fed is nominally a mostly autonomous organ of the executive branch. It is the central bank for the United States. In my view, the Fed is an instrument of expansion while the drug war is simply an institution of cultural entropy.

The drug war has nothing to do with the Fed. It was enacted as a separate public act, and who's main purpose has been to bolster job creation for the republican base. Ending our drug war alone could generate enough revenue and be conducive to such market friendliness, that it could provide a stimulus to our economy.

Albert Gallatin was referring to an institution that was more an organ of the executive branch than the mostly autonomous institution we have now. As a central bank, its role is limited to central banking; unlike Congress, which can dictate a drug war to us that has no useful purpose and is "not worth a continental" as an analogous form of public policy.

The letter was to Gallatin, so it was Jefferson's words, not Gallatins.

Few people want to see an end to the war on drugs as much as I do, but then where would the CIA get their funding for their thousands of covert operations?

That line of reasoning applies to Jefferson as well.

A recreational drug category would be more efficient and generate more revenue.

The fed is an instrument of expansion, artificial expansion. Because at the end of the fiat currencies cycle, you lose everything. They lend out money they don't have at interest. By definition, what the fed does is legalized counterfeiting and the only one who wins in the end is the Fed and the government that supports them. At the end of this fiat cycle the government will own Properties, Industries and institutions that used to be privately owned by the citizens of the U.S. They have taken control of GM and laid waste to private suppliers, manufacturers and dealerships, some who have been operating for 100 years. Without the Fed, this would not have been possible. The Fed controls the money which means that they control Government policy. No private institution should control Government policy. That is reserved for the people.
The WOD must end. But the only way to insure its demise is to remove it's funding. Period. Do you really believe the entrenched powers that be would not use every resource available to remain in power? You must remove their resources. As long as the Fed is in control of our money supply, the WOD will continue. If you sincerely believe the Fed is a benevolent giant with the best interest of the people in mind, you could not be more wrong.
No, the drug war will never end as long as the fed exists. Do more research. It is imperative if you really want to be enlightened on this topic.

__________________
It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford

Generate more revenue? You mean Federal reserve notes? If you think that ending the WOD then taxing the sale of the newly legal drugs can generate enough "revenue" to save our ass's your fooling yourself. It would be a hell of a lot of money, but not nearly enough.

__________________
It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford

The Fed provides central banking services for the US and the financial institutions in our republic.

I think you are confusing fiscal policy with monetary policy.

In any event, all it takes is an act of Congress to eliminate the drug war.

With all the money we won't be wasting and the revenue we could be generating, it could act as a stimulus that can help provide an impetus for our economy.

Local governments would be also be generating revenue from sales of recreational drugs.

All it takes is an act of Congress to abolish the FED. So, what is your point?

"Money is the most important subject intellectual persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it is widely understood and its defects remedied very soon." -- Robert H. Hemphill, former credit manager, Federal Reserve Bank of Atlanta

"Bankers own the earth. Take it away from them, but leave them the power to create money and control credit, and with a flick of a pen they will create enough to buy it back." -- Sir Josiah Stamp, former President, Bank of England

"The real truth of the matter is, and you and I know, that a financial element in the large centers has owned the government of the U.S. since the days of Andrew Jackson. History depicts Andrew Jackson as the last truly honorable and incorruptible American president." -- President Franklin Delano Roosevelt, November 23, 1933 in a letter to Colonel Edward Mandell House

Famous Quotes on Banking

Now, that last quote is from a letter to Col. House from FDR. There is only one way to get that letter, as it has not been transcribed to the internet. If you would like a copy, you have to email Dr. Stanley Monteith and ask him to send you a copy like I did. He sent me a copy at no charge.

Why has no one posted this entire letter on the web? Why has the media totally ignored the letter? Why has academia totally ignored the letter.

Here is a little more context.........

"I had a nice talk with Jack Morgan the other day. . . . J.P.M. did not seem much troubled over the gold purchasing, and confessed that he had been completely misled in regard to the Federal expenditures. The real truth of the matter is, as you and I know, that a financial element in the larger centers has owned the Government ever since the days of Andrew Jackson . . . . The country is going through a repetition of Jackson's fight with the Bank of the United States -- only on a far bigger and broader basis. . . .

Take care of yourself and do write me soon."

Now, let's look at what FDR's son in law, Curtis Dall, had to say about the stock market crash. Dall was a syndicate manager for Lehman, on the trading floor the day of the crash...........

"Actually, it (the stock market crash) was the calculated 'shearing' of the public by the World-Money powers triggered by the planned sudden shortage of call money in the New York money market."

Curtis Dall spent a lot of time at the White House and he learned how things really work...........

"For a long time I felt that FDR had developed many thoughts and ideas that were his own to benefit this country, the USA. But he didn't. Most of his thoughts, his political ammunition, as it were, was carefully manufactured for him in advance by the CFR-One World Money Group." (Curtis Dall, "FDR: My exploited Father-in-law," 1967)

Maybe someday you will learn how things really work. When that day comes, you will likely support the repeal of the FEDERAL RESERVE ACT.

The point was that the Drug War was created by an act of Congress as was the Fed.

The Fed generates a profit while the Drug War does not. Thus, the Drug War is "not worth a continental" as a form of public policy. The Fed generates a profit that can lower our tax burden.


The Drug War engages in the coercive use of force of the State, to "steal" forms of private property and destroy forms of wealth.

The Fed engages in market friendly transactions that can improve the standard of living of all market participants.