http://dailydose4u.wordpress.com/2008/04/24/two-fed-chairmen-duke-it-out-which-ones-right/ Real News that Really Matters to Canadians Mon, 09 Nov 2009 19:28:30 +0000 http://wordpress.com/ hourly 1 http://dailydose4u.wordpress.com/2008/04/24/two-fed-chairmen-duke-it-out-which-ones-right/#comment-22 canuck99 Thu, 24 Apr 2008 07:27:02 +0000 http://dailydose4u.wordpress.com/?p=25#comment-22 The Federal Reserve is all about perception. In reality, it's neither federal (i.e. it's a private corporation) nor does it have any reserves (it creates money literally out of nothing). In terms of credibility all it has is its perceived image of being a powerful storehouse of wealth and therefore influence. Since there is no wealth other than future tax debt (something any administration can choose to reneg on) then there is ultimately no influence. So when a former master illusionist publicly takes on the current master illustionist more and more people like you and me are cottening on to the whole fraud, well let's just say things are going to get interesting ('may you live in interesting times', btw, is an old chinese curse). Lesson for you and me: keep cash and cash-based investments like RRSPs, stocks and bonds to a minimum and protect yourself with real, fully-owned assets. The Federal Reserve is all about perception. In reality, it’s neither federal (i.e. it’s a private corporation) nor does it have any reserves (it creates money literally out of nothing). In terms of credibility all it has is its perceived image of being a powerful storehouse of wealth and therefore influence. Since there is no wealth other than future tax debt (something any administration can choose to reneg on) then there is ultimately no influence. So when a former master illusionist publicly takes on the current master illustionist more and more people like you and me are cottening on to the whole fraud, well let’s just say things are going to get interesting (‘may you live in interesting times’, btw, is an old chinese curse). Lesson for you and me: keep cash and cash-based investments like RRSPs, stocks and bonds to a minimum and protect yourself with real, fully-owned assets.

]]>