tag:blogger.com,1999:blog-9612609.post2607156475245392731..comments2023-09-29T06:58:20.125-07:00Comments on Badtux the Snarky Penguin: Ron Paul zealots prove they're idiots -- again.BadTuxhttp://www.blogger.com/profile/01345749557330760251noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-9612609.post-89349248026121598532009-05-06T15:04:00.000-07:002009-05-06T15:04:00.000-07:00Fact: Since 1978, the General Accounting Office ha...Fact: <A HREF="http://tr.im/kGAa" REL="nofollow">Since 1978, the General Accounting Office has audited the Federal Reserve over 100 times</A>. So what are the Ron Paul zealots nattering about with their bizarre conspiracy theories?BadTuxhttps://www.blogger.com/profile/01345749557330760251noreply@blogger.comtag:blogger.com,1999:blog-9612609.post-66621573227026482532009-05-06T08:49:00.000-07:002009-05-06T08:49:00.000-07:00Oh, BTW -- audits work only because organizations ...Oh, BTW -- audits work only because organizations that are being audited can't just print money to replace any money that's missing. The Federal Reserve, on the other hand, possesses a PRINTING PRESS. Duh. How would you detect missing money if the Fed just prints more money to replace the money that went missing?!<br /><br />- Badtux the Snarky PenguinBadTuxhttps://www.blogger.com/profile/01345749557330760251noreply@blogger.comtag:blogger.com,1999:blog-9612609.post-57173783696959727232009-05-06T08:43:00.000-07:002009-05-06T08:43:00.000-07:00Wow. Paranoid conspiracy theories. Your tin foil h...Wow. Paranoid conspiracy theories. Your tin foil hat slipping today? BTW, who appointed Ben Bernanke as head of the Federal Reserve? Martians?<br /><br />BTW, I did *NOT* say that the Federal Reserve caused the economic expansion in question, there were a number of factors that did that. The Federal Reserve *did* insure a stable but expanding money supply during that time period however, which was important for maintaining that growth because money is the lubricant of commerce -- if you devolve to a barter society, it's hard to do commerce. I still have vivid memories of my grandmother telling me about how economic activity crawled to a halt in her area of the country during the Great Depression because there simply was no money -- it had all disappeared under mattresses in the wealthier parts of the country, which is what deflation does to money. So they were reduced to barter, which is very inefficient and incapable of sustaining a modern economy (unless you've somehow managed to figure out how to arrange the 50,000 or so barters needed to assemble this computer that I'm typing this on). <br /><br />So anyhow, wait for the next installment, which is where I explain to you why the Fed is governed the way it's governed and why we need it in the first place. Unless you want to prattle on with paranoid conspiracy theories on this thread, which I will happily delete -- the penguin is the only one allowed to be an ass here, and I *told* you to wait for the next thread to rattle on about your conspiracy theories.<br /><br />- Badtux the Economics PenguinBadTuxhttps://www.blogger.com/profile/01345749557330760251noreply@blogger.comtag:blogger.com,1999:blog-9612609.post-13653720746887294962009-05-06T08:29:00.000-07:002009-05-06T08:29:00.000-07:00Wrong...another non-intellectual, emotional reacti...Wrong...another non-intellectual, emotional reaction to the truth. Capitalism caused the real economic expansion in the period you speak of. The Fed does not create jobs...only fiat money.<br />Any organization, govt. or private, should be subject to audits!! That's common sense. And since the Fed is really a govt. created private corporation controlled and owned by other banks, that should make it even more compelling for an audit. OR DO YOU JUST TRUST ALL BANKS!! I hope your not THAT naive.rtaylortitlehttps://www.blogger.com/profile/04398331289779781763noreply@blogger.com