Red Pill me on The Federal Reserve please.
Were they really established by a Rotschild controlled banking syndicate?
Is every dollar really owned by the illuminati?
Or is it just conspiracy tard nutjob theories?
>>1341232
Read a book.
these conspiracies were created by poorfags to justify whining about being poor
>>1341232
https://www.youtube.com/watch?v=iFDe5kUUyT0
You're welcome.
>>1341330
"Secrets of the Temple: How the Federal Reserve Runs the Country" is a good book
ignore all meme tier youtube videos on the fed
>>1341330
Any economics book with a chapter on money creation. Ignore the meme conspiracy ones.
Under code names, leaders of the banking world traveled to jekyll island, georgia, usa and devised the plan to make a private bank here that lends money to the government and controls money in that country like a central bank. Even the genius of calling it federal something so people think it's some kinda government building and program.
switch to ethereum and be your own bank.
>>1341330
the truth is, most countries have central banks. Its a part of life. just live your life normally, make money and try to mitigate this fact by investing in non-financial assets
>>1341417
He said any economics book. As in, any macroeconomics 101 textbook. Either from Mankiw or Nordhaus, take your pick.
>>1341232
I can't understand how a board dedicated to finance fails to bring up the most basic 'Banksters 101' books.
There is only one book you will really ever need to read.
It is called "The Creature from Jekyll Island."
Read it and weep. I know I did haha.
>>1341390
>Ignore the meme conspiracy ones.
How do I know it is a meme if they say it is right?
How do I know you are right?
>>1341232
There are indeed severe problems with the central banking concept. But there's no Illuminati or Jew conspiracy.
On a very fundamental non-technical level: Central banks create money out of thin air. They can do that, that's what they're there to do. But they doesn't just hand out the money to be used in the economy - they gives out loans and charge interest.
Here's a small scenario: There's no money in circulation. The central bank issues $100, charges 5% interest (purely hypothetically). After a year $105 need to be repaid. But only $100 were ever created...
This tells us a couple of things: 1) You can never stop issuing money or by definition there would be default. 2) This is not a sustainable model, unless we have constant economic growth, because otherwise issuing more and more money would just cause endless hyper-inflation. 3) All private savings are ultimately funded by government debt. 4) Central banks make profit out of thin air.
The last point, in conjunction with central banks being largely unaccountable to *anyone* leads to all sorts of conspiracy theories. The US is a special case, since formally the Federal Reserve is owned by private banks. De facto, the US treasury gets most of the profit, but on paper the shareholders are private entities (jews/illuminati/whatever).
The independence / unaccountability comes from a lot of belief in market forces. And yes, historically states with unlimited power to issue money did a lot of bad. But right now, in times of economic crisis, central banks often operate against the good of the people. You picked up on the billions of billions of dollars in QE and the near 0% interest rates? That's your central bank directly expropriating you. As long as interest rates are below inflation (which rises with QE), private savings diminish in value. A silent hefty property tax on the order of several % per year, but nobody cares since the numbers on the bank statement don't go down...
