An instructive Twitter conversation:
If we cannot find someone better than Kohn or Summers to run the Fed, then just get rid of it. @BarackObama @WestWingReport @LaurenLyster
— moiracathleen (@moiracathleen) August 1, 2013
@moiracathleen @BarackObama @WestWingReport @LaurenLyster Doesn’t matter who runs it, Fed remains legalized counterfeiting monopoly. End it! — Jeremy R. Hammond (@jeremyrhammond) August 1, 2013
@jeremyrhammond Fed plays regulatory role. Court just found Fed abused rule making authority re Durbin Amendment @LaurenLyster — moiracathleen (@moiracathleen) August 1, 2013
@moiracathleen Should we have legalized counterfeiting and gov’t legislated monopoly of currency supply b/c #Fed has “regulatory” role?
— Jeremy R. Hammond (@jeremyrhammond) August 1, 2013
@jeremyrhammond I’m no apologist for the Fed, but I’d like to reframe the debate because chanting end the Fed isn’t really going to help
— moiracathleen (@moiracathleen) August 1, 2013
@moiracathleen What isn’t really going to help is debating who should run the #Fed. Doesn’t matter. Remains legalized counterfeiting op. — Jeremy R. Hammond (@jeremyrhammond) August 1, 2013
@moiracathleen Let’s reframe the debate by waking Americans up to the need to end the Fed. — Jeremy R. Hammond (@jeremyrhammond) August 1, 2013
@moiracathleen Otherwise, you’re not really reframing the debate, you’re just limiting it within the confines of what’s deemed “acceptable”.
— Jeremy R. Hammond (@jeremyrhammond) August 1, 2013
@jeremyrhammond the Fed today in no way resembles the system that was prescribed by Federal Reserve Act. I’d start there…
— moiracathleen (@moiracathleen) August 1, 2013
@moiracathleen Why start with gov’t legislated monopoly over currency supply? Why should this be the framework you wish to operate within? — Jeremy R. Hammond (@jeremyrhammond) August 1, 2013
@jeremyrhammond who will chair the Fed is an issue whether you like it or not, I will not stand silent while the Kohn is a contender.
— moiracathleen (@moiracathleen) August 1, 2013
@moiracathleen The need to END the #Fed is the real issue, whether you like it or not.
— Jeremy R. Hammond (@jeremyrhammond) August 1, 2013
@jeremyrhammond how can you end the Fed when the national debt is at the level it is today? You can’t.
— moiracathleen (@moiracathleen) August 1, 2013
@moiracathleen You have it backwards. How can you eliminate the national debt so long as the #Fed serves to monetize it?
— Jeremy R. Hammond (@jeremyrhammond) August 1, 2013
@jeremyrhammond Andrew Jackson gave you a blueprint for getting rid of National Bank. I bet it doesn’t include chanting End the Fed.
— moiracathleen (@moiracathleen) August 1, 2013
@moiracathleen I bet neither does it include debating who should chair it when its fundamental nature remains the same regardless.
— Jeremy R. Hammond (@jeremyrhammond) August 1, 2013
Here’s the best part:
@jeremyrhammond what do you want to do? Eliminate the dollar so states can allow slavery again?
— moiracathleen (@moiracathleen) August 1, 2013
@moiracathleen Is this what you mean by wanting to “reframe the debate”? Questioning whether people who want to end Fed are pro-slavery?
— Jeremy R. Hammond (@jeremyrhammond) August 1, 2013
@jeremyrhammond obviously the Federal Reserve is supposed to be Federal, why not begin with why is it now a National Bank?
— moiracathleen (@moiracathleen) August 1, 2013
@jeremyrhammond you seem to be opposing a national currency as well?
— moiracathleen (@moiracathleen) August 1, 2013
@moiracathleen I am unambiguously opposing a legalized monopoly over the supply of currency and credit. No “seem to be” about it.
— Jeremy R. Hammond (@jeremyrhammond) August 1, 2013
@moiracathleen You, on the other hand, are unambiguously defending the existence of such a monopoly over the supply of currency and credit.
— Jeremy R. Hammond (@jeremyrhammond) August 1, 2013
@jeremyrhammond I’d say that the first order of business is to require that the Fed System be reformed so that it is Federal, not national
— moiracathleen (@moiracathleen) August 1, 2013
@moiracathleen Why? So that Congress can just run the legalized counterfeiting operation directly itself?
— Jeremy R. Hammond (@jeremyrhammond) August 1, 2013
@jeremyrhammond that will decentralize banking power and end TBTF, then you can start your debate on whether it should exist
— moiracathleen (@moiracathleen) August 1, 2013
@moiracathleen We can start the debate on whether the #Fed should exist right now. We hardly need to wait.
— Jeremy R. Hammond (@jeremyrhammond) August 1, 2013
I’m posting this conversation because I think it’s a good example of how people are conditioned to have hostile or otherwise completely irrational reactions (i.e., her equating wanting to end the Fed with being pro-slavery) to ideas that are outside of the acceptable framework for discussion as defined by our media and politicians.
Where the hell did that pro-slavery argument come from?! Mind boggling.
I KNOW! LOL!
I’m assuming she thinks if there was not a regulatory body (the Fed, Congress, etc) then banks would use their “unregulated” control of currency to take full control of the economy or something like that. That’s the only way I could see someone thinking “End the Fed” is equivalent to “Pro-Slavery.”
Twitter with it’s character limit probably isn’t the most conducive environment to debating important issues. It would be difficult to explain how money works in the free market to someone over twitter, just like it would probably be hard for her to explain her “Pro-Slavery” argument over twitter.
How does she think giving Congress control of the currency will stop TBTF in any way? I’m sure Congress is just as connected to business interests as the Fed is. Her suggestion is to fix the problem by giving control from one institution known to abuse power to another institution known to abuse power. Since when did changing bullies help the little guy?