User Comments

1. 

   9/17/08

   Enlight

   They own all the gold.

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   1. 

      9/17/08

      clioandme

      How is gold relevant?
   2. 

      9/17/08

      Anok

      Yeah, our dollar hasn't been gold backed since the 70's LOL.
2. 

   9/17/08

   Anok

   If push comes to shove, they could always just print more money.
   
   Of course, this will make things worse, but hey, they'll have something to shell out to failing companies.

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3. 

   9/17/08

   Enlight

   They have all the control, The federal reserve was formed in 1913 as a central back. The very thing that the founding fathers of America fought to be free from.
   
   President Wilson gave them control, it was voted in by the congress on December 23rd 1913 when half of the congress was out for the holiday.
   
   Look at the gold price lately?
   
   The fed's hold the gold as collateral, just if the government don't pay their bill of interest.

   [reply]
   1. 

      9/17/08

      Anok

      That's wonderful. However, in the seventies and after we printed money that was not backed by gold - so there are more companies who have debt in dollars who are in trouble than there is gold to get them out.
      
      Get it? The Fed's may have gold, but they don't have enough of it to bail out these companies. And certainly not enough to bail them out, and keep some amount of gold in the country in case of other countries calling in their loans.
      
      In other words, it's useless.
   2. 

      9/17/08

      voodooKobra

      And that was Anok on Economics 101. Back to you, Tom!
4. 

   9/17/08

   blogonsmog

   The price of gold has been going down dramatically for two months excluding today (price of gold is up 10% today). Maybe the fed reserve is raising cash by selling gold

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5. 

   9/17/08

   jackpayne

   So many people think that modern-day politicians invented all the sneaky ways to pass unpopular legislation right under the people's noses.
   
   Wrong!
   
   Late at night, just 2 days before Christmas, 1913, Congress created the Federal Reserve. If this had never happened, and the world stayed on a strict gold standard for the following 95 years, we would not be having any of these problems we are having today.

   [reply]
   1. 

      9/17/08

      Anok

      Right, we would have different problems!
6. 

   9/17/08

   blogonsmog

   That's right. Now the public can blame the federal reserve instead of the politicians.
   
   Don't worry. Pretty soon Canada will be able to scrape together enough money to buy the United States. Or perhaps a consortium between Canada and Gran Fenwick.

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7. 

   9/17/08

   guitarmas5

   It infuriates me that we're giving our tax dollars to these companies instead of hauling away their executives to federal prison. They're rewarded for shady business practices... what has this country come to

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8. 

   9/17/08

   LGramlich

   I may try to learn how to speak Chinese, personally.

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9. 

   9/17/08

   RMania

   Don't worry, the government will just continue Bush's tradition of borrowing money from other countries that younger Americans like me will be more than happy to pay off later.

   [reply]
10. 

    9/17/08

    msbaby

    What really hacks me off is that while the businesses and stock prices are tanking, it's nothing to hear that the CEO of said failing businesses are being awarded with multi-million dollar bonuses. What are the board members thinking?

    [reply]
11. 

    9/17/08

    cooper

    u,, we are bailing them out aren't we?

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12. 

    9/17/08

    wehireu

    We're going to see some very interesting taxes. I think it is time to roll out the luxury taxes, cigarettes, alcohol, yachts, big cars, candy, you name they will tax it to avoid income tax. Every kind of hidden tax you can imagine. Watch out for fees too... Watch.

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13. 

    9/18/08

    jackpayne

    Wehireu, your visioh is fantastic. Right on.
    Order of the day will be, if she works well under constant supervision and cornered like a rat in a trap, figure a way to tax the living daylights out of her without it showing like striped whip marks.

    [reply]
14. 

    9/18/08

    globalgirl

    You do know the federal reserve bank is not a government agency but a privately held company?!?
    
    www.globalresearch.ca/index.php?context=va&aid=8518
    
    www.populistamerica.com/how_the_federal_reserve_runs_the_us___part_ii

    [reply]
    1. 

       9/18/08

       voodooKobra

       I'm aware. It doesn't change the fact that Americans are being swindled.
15. 

    9/18/08

    blogonsmog

    So in theory, since the Federal Reserve is "private", this entity could go bankrupt if it dishes out too much money? Cool. This is kind of like a federal version of Enron accounting.

    [reply]
16. 

    9/18/08

    Enlight

    They are working on creating the North American Union between Canada, United States and Mexico.
    
    Also, it is illegal to tax American wages according to the 16th Amendment. Americans were never taxed until 1913 except for during the civil war.
    
    The tax was only supposed to be from the profit of corporations and excise tax.
    
    Americans are being swindled.

    [reply]
    1. 

       9/23/08

       guitarmas5

       you are mistaken. it was the 16th amendment that legalized income tax. It overruled the "Pollock v. Farmers' Loan & Trust Co" (1895)which limited this.
       The 16th amendment explicitly names income tax as a viable source of income for the federal government. It is 100% legal. Here is the 16th amendment in it's entirety:
       
       "The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several states, and without regard to any census or enumeration."
       
       When you actually read that, it's kind of scary. It basically says the government can take as much money from you as it wants. *shivers*
17. 

    9/18/08

    msbaby

    Enlight, didn't some "get rich quick" gurus hold seminars that encouraged or claimed to teach citizens how not to pay taxes citing the 16th Amendment? We heard a lot about prosecution of the people that tried it for awhile. I wonder what the final outcome was?

    [reply]
    1. 

       9/19/08

       Enlight

       Thats the point, they come at people with a club using fear by putting people in jail if a person does not pay their tax.
18. 

    9/23/08

    guitarmas5

    you are mistaken. it was the 16th amendment that legalized income tax. It overruled the "Pollock v. Farmers' Loan & Trust Co" (1895)which limited this.
    The 16th amendment explicitly names income tax as a viable source of income for the federal government. It is 100% legal. Here is the 16th amendment in it's entirety:
    
    "The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several states, and without regard to any census or enumeration."
    
    When you actually read that, it's kind of scary. It basically says the government can take as much money from you as it wants. *shivers*

    [reply]