Debate: Is the Federal Reserve System fraudulent, and should it be reformed or abolished?
A table of contents for a debate on the Federal Reserve and its role in the current financial crisis featuring nolanchart.com's founder, Walt Thiessen from the libertarians and former professor of economics, columnist Master C from the liberals. by Walt Thiessen
(libertarian)
Thursday, October 2, 2008
This will be the home page of a debate which stems from an article published by new Nolan Chart columnist Master C on September 21, 2008. Entitled "Financial Bailout or Refilling the Cookie Jar?" it was Master C's first contribution to the Chart. I often reply to first-time columnists via the Reader Comments section to try to get a little debate and discussion going. It's my way of welcoming newcomers. He replied not via the Reader Comments section of the article, but rather via email. This led to a little give-and-take, and before we knew it, we were in a debate.
The quality of the discussion and the range we covered led me to believe that this was a debate that others would want to follow. So we're bringing it online for your viewing pleasure. While Master C's bailout article was the instigator of our debate, we've decided that it won't be the official starting point. Instead, each of us will publish a short piece which constitutes our respective "first proposition," to borrow a phrase from the British debating tradition.
This article will serve as the Table of Contents of the articles of the debate, which shall be offered in chronological order as he and I contribute new articles to the discussion. We will also include links in each article included in the debate, both to this article's table of contents and to the previous and (ultimately) the next article in the debate, so that readers can easily follow the give-and-take. Depending upon how much readership this debate attracts, the format might become the basis for additional programming done to the site to enhance this kind of discussion on issues between consenting debaters.
So let's begin. Question: Is the Federal Reserve System fraudulent, and should it be reformed or abolished? Let's introduce the participants.
Master C taught college level Economics for 18 years before retiring. He also worked in significant occupations in banking (7 years) and manufacturing (6 years). He has an extensive interest in many things from photography, movies, books, theater, sports, computers, travel, restaurants, and politics.
Walt Thiessen is the founder of the Nolan Chart website and a long-time libertarian. After years working in both corporate and small company positions, primarily in computer-related positions, he became a small-time entrepreneur. He was the Libertarian Party's candidate for Congress from Connecticut's 5th District in 1996. Today, he works at home and helps promote freedom-related issues.
The views expressed
in this article are those of Walt Thiessen only and
do not represent the views of Nolan Chart, LLC or its affiliates.
Walt Thiessen is solely responsible for the contents
of this article and is not an employee or otherwise affiliated
with Nolan Chart, LLC in his/her role as a columnist.
This debate does not seem to have caught the attention of many readers. Nor do they have a way to join or judge it.
To provoke responses from both the participants, I'll add that once they agree on a few facts such as the meaning of "credit", both will admit that the Federal Reserve System is not just fraudulent.
It is based on a much older and wider fraud common to each and every bank in the world that conducts "fractional reserve" banking.
Then the challenge becomes not proving the fraud but exposing it!
Posted By: Jake, the champion of the constitution
Date: 2008-10-04 05:12:26
Walt - posted link on the facebook site. my two bits is to add in part 1, 2 etc in the article title. other than that great idea, see how it goes.... maybe we need a major bank to fail :)
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