Wednesday, May 06, 2009

An interesting debunk of Federal Reserve conspiracy theories

Who controls the Federal Reserve system?. A well documented rebuttal, with cites of source documentation. Hint: Ben Bernanke was *NOT* selected to lead the Fed by a secret cabal of foreign Jewish bankers!

General debunk of most popular conspiracy theories regarding the Fed. Also follow the links to detailed debunks, including cites to source papers that you can go track down for yourself.

I will return later with my notes on why we need the Federal Reserve (hint: fractional reserve lending), and why the Federal Reserve is set up the way it's set up. Hint: Weimar Germany (albeit that hadn't happened yet, it's a perfect example of the sort of thing the Fed's governance was purposely set up to avoid).

-- Badtux the Economics Penguin


  1. Yeah, but you gotta admit the other stories are waaaay more "Desperate Housewives" interesting.


  2. Oh Great And Mighty Penguin Creature . Please forgive my off topic question , but in your infinite Penguin Wisdom perhaps you have the answer I seek ? In a discussion today I could not come up with one thing that the deep South of the USA ,IS good for . And , I do understand you came from LA but to your credit you did leave . I mean really , other than the rethugs and the kkk and a lot of carbo rich foods and "southern traditions" (like rascism) just what have they given the rest of the country ? I mean banking>New York , manufacturing>(was)Detroit
    computer teck>Ca. , forest products>Ore/Wash , Universities>anywhere else . Just what is the "south" good for ? And , don't give me Nascar as an answer it's their Nationanl sport .
    My point is "they" bitch and complain about government , public welfare , science , personal rights and higher education , but they offer no solutions and stupidly cling to harmfull/outdated ideas and ways . They have nothing of value as far as I see except the bitch they ride . Am I wrong here ? I understand we fought and died to keep these people as part of our Nation and all they do is stab the rest of us in the back . What can "they" bring to the table ?
    A wondering w3ski

  3. Cajun food.

    That's it. That's all I can think of. Oh yeah. And barbecue. Can't forget barbecue. And Townes van Zandt. Can't forget Townes van Zandt. I'm sure I can think of one or two other things, but I just made myself hungry mentioning the above, so I have to go fix meself a bowl of barbecue beans to eat with my lasagna while I listen to Townes van Zandt on the stereo...

    -- Badtux the Southern Penguin

  4. Badtux,

    Whaaa. . . I s'pose next you're going to tell me the Protocols of the Elders of Zion lacks merit?

    (Which reminds me of a great line from Raising Arizona when the husband asks the reporter not to run the story that aliens are responsible for his child's abduction: "lf his mama reads that, she's just gonna lose all hope.")

    To w3ski: the South needs be here to provide perspective. Y'all can feel very good about your arugula-eatin', tidy lives when you realize just how pathetic things are here. After you Yanks crushed us in the Civil War, thanky very much.


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