Suggesting Da Fed be Abolished is the kind of thing that gets Presidents assassinated.  At least it would if it had a snowball's chance in hell of being passed by CONgress and signed into law by the POTUS.  The control of the FSoA money supply is the means by which the Elite Oligarchy controls the Goobermint, along with the bribes paid by the lobbyists on K Street.



The Federal Reserve Bank is owned not by the people, it's owned by the TBTF Banks.  The Federal Reserve Act was passed in 1913 in after being drawn up by wealthy Oligarchs meeting in secret of Jekyll Island and voted on just before the Christmas break.

Just before Thanksgiving in 1910, U.S. senator Nelson Aldrich of Rhode Island invited six members of America's banking elite to a covert retreat on Jekyll Island.

The Jekyll Island Club was a private club on Jekyll Island, on Georgia's Atlantic coast. It was founded in 1886 when members of an incorporated hunting and recreational club purchased the island for $125,000 (about $3.1 million in 2017) from John Eugene du Bignon. The original design of the Jekyll Island Clubhouse, with its signature turret, was completed in January 1888. The club thrived through the early 20th century; its members came from many of the world's wealthiest families, most notably the Morgans, Rockefellers, and Vanderbilts. The club closed at the end of the 1942 season due to complications from World War II.

Role in the history of the Federal Reserve

Jekyll Island was the location of a meeting in November 1910 in which draft legislation was written to create a central banking system for the United States. Following the Panic of 1907, banking reform became a major issue in the United States. Senator Nelson Aldrich (R-RI), chairman of the National Monetary Commission, went to Europe for almost two years to study that continent's banking systems. Upon his return, he brought together many of the country's leading financiers to Jekyll Island to discuss monetary policy and the banking system, drafting legislation which was introduced in Congress as the "Aldrich Plan". Some ideas from the Aldrich Plan were later incorporated into the Federal Reserve Act.

On the evening of November 22, 1910, Sen. Aldrich and A.P. Andrews (Assistant Secretary of the United States Treasury Department), Paul Warburg (a naturalized German representing Kuhn, Loeb & Co.), Frank A. Vanderlip (president of the National City Bank of New York), Henry P. Davison (senior partner of J. P. Morgan Company), Charles D. Norton (president of the Morgan-dominated First National Bank of New York), and Benjamin Strong (representing J. P. Morgan), together representing about one quarter of the world's wealth at the time, left Hoboken, New Jersey on a train in complete secrecy, dropping their last names in favor of first names, or code names, so no one would discover who they all were. The excuse for such powerful representatives and wealth was to go on a duck hunting trip on Jekyll Island.

Forbes magazine founder Bertie Charles Forbes wrote several years later:

    Picture a party of the nation's greatest bankers stealing out of New York on a private railroad car under cover of darkness, stealthily riding hundreds of miles South, embarking on a mysterious launch, sneaking onto an island deserted by all but a few servants, living there a full week under such rigid secrecy that the names of not one of them was once mentioned, lest the servants learn the identity and disclose to the world this strangest, most secret expedition in the history of American finance. I am not romancing; I am giving to the world, for the first time, the real story of how the famous Aldrich currency report, the foundation of our new currency system, was written ... The utmost secrecy was enjoined upon all. The public must not glean a hint of what was to be done. Senator Aldrich notified each one to go quietly into a private car of which the railroad had received orders to draw up on an unfrequented platform. Off the party set. New York's ubiquitous reporters had been foiled ... Nelson (Aldrich) had confided to Henry, Frank, Paul and Piatt that he was to keep them locked up at Jekyll Island, out of the rest of the world, until they had evolved and compiled a scientific currency system for the United States, the real birth of the present Federal Reserve System, the plan done on Jekyll Island in the conference with Paul, Frank and Henry ... Warburg is the link that binds the Aldrich system and the present system together. He more than any one man has made the system possible as a working reality.[7]


If you want to put a date to the beginning of FSoA Fascism, it's December 23, 1913, the date Woodrow Wilson signed into Law the Federal Reserve Act.  Wilson would later express his regret.



https://watcher.guru/news/us-congressman-introduces-bill-to-abolish-the-federal-reserve

US Congressman Introduces Bill To Abolish The Federal Reserve

RE

Fundamentally, money and the banking system is based on TRUST.  Whether it's paper bills or coins, it just represents numbers on a balance sheet and is used to measure the relative value in trade of disparate items, from physical goods to labor to ideas and entertainment.  Once trust is lost in its value holding reasonably steady from one day to the next, the system fails.  What is happening now is El Trumpo is destroying all trust in the system by wildly changing the rules on a daily basis.

I have talked about this many times, but now coming out of the mouth of a Billionaire hedge fund  guru like Ray Dalio, people may pay attention. 

A recession is two negative quarters of GDP and whether it goes slightly there. We always have those things. We have something that's much more profound. We have a breaking down of the monetary order.

Recessions are bad, monetary system collapse is another can of beans entirely.  If something isn't done to stop Trump, he's gonna get it.

https://www.theguardian.com/business/2025/apr/13/ray-dalio-trump-tariffs-recession

Hedge fund billionaire says US may face 'worse than a recession' from Trump tariffs

RE

Comprehensive analysis of the various knock on effects of the Trumpenators witless attempt to "fix" persistent trade deficits through the unilateral application of tariffs.  It's a very one dimensional strategy which doesn't take into account the effects on the Bond Market or FOREX trading, or the potential for lockup in liquidity due to the outsize value of the basis trade.

Although the recent reversal of the tariff policy by His Trumpness have calmed the stock market, the damage done to the value of USTs as a "safe asset" haven in times of economic instability isn't fixed so easily.  The countries and institutions holding large amounts of USTs will continue to dump them quietly while they diversify out and find a new way to balance their risk.  This will prove to be problematic for the FSoA when it needs to finance the next budget.

For now we sit in a lull, a calm between storms waiting for the next shock to the system.  Coming soon to a theater near you.

Trump Has Exposed the Fragility of the Global Dollar System

https://jacobin.com/2025/04/trump-global-dollar-system-tariffs

RE

QuoteTrump Has Exposed the Fragility of the Global Dollar System

Now it begins: 'corporate' mandated 20 hours a week for associates about a year ago.  Now beginning after the 12th of next month which ends a pay period, my hours are cut.  I will be scheduled for 12 hours a week after that.

Elon wants to take away my Social Security and Trump just docked me $200 a week.  These lame-assed motherfuckers fuck people they never met.

As I was pricing last week.  I could see what we had stocked in the Moreno Valley warehouse by item price jumps.  Things in good supply are not going up in price yet.  Everything else fresh off the boat goes up.

QuoteWe hope you don't look for a new job.  We really like you here, and we hope you stay.

Of course, what is happening to me is across the board so where would I go?  The stock market will do fine for a while.  Unemployment makes it healthy,  until the unemployed can't buy any shit.  That comes next.  In the meantime my work wages are cut in half and my zeros are going to stop growing.  Trump the thief becomes a real billionaire instead of the pretend one he has been.

One of my CNAs makes Xtra money on days off shopping 4 Instacart.  Maybe you could do that to add some hours.

RE

Quote from: RE on Apr 26, 2025, 07:47 AMOne of my CNAs makes Xtra money on days off shopping 4 Instacart.  Maybe you could do that to add some hours.

RE

I am going to spend a month on the reduced hours at least.  We are going into good weather, and I need to tend to the yard and house.  If I decide I need more hours, I will move.

I'm not complaining about the extra bandwidth.  For now.

I probably will be complaining later as I doubt they will do the decent thing and cut a day a week.  They will expect the same team commitment coverage-wise.  More for less when viewed from a correct perspective.

I'm Ok, Other people are going to be singing a much sadder song.

Quote from: K-Dog on Apr 26, 2025, 06:53 AM

QuoteTrump Has Exposed the Fragility of the Global Dollar System

Now it begins: 'corporate' mandated 20 hours a week for associates about a year ago.  Now beginning after the 12th of next month which ends a pay period, my hours are cut.  I will be scheduled for 12 hours a week after that.

Well,  gut punch to be sure. But in a world of McJobs, can't you go find one to make up for 2 missing 4 hour shifts?

Quote from: K-DogElon wants to take away my Social Security and Trump just docked me $200 a week.  These lame-assed motherfuckers fuck people they never met.

Well, good thing you've got those low yield investments churning away at...something less than the high yield investments then. I'm sure they didn't have you in mind when beginning to blast away chunks of the federal budget that get in the way of them handing out tax cuts to friends.

Quote from: K-Dog

QuoteWe hope you don't look for a new job.  We really like you here, and we hope you stay.

Sounds like a clue to bail. You live in a non-depressed part of the country, opportunities might be plentiful. And closer to home so you don't need to fuel up with danish and coffee on the way to work, saying some significant fraction of your pay, as you last detailed.

Quote from: K-DogOf course, what is happening to me is across the board so where would I go?  The stock market will do fine for a while.  Unemployment makes it healthy,  until the unemployed can't buy any shit.  That comes next.  In the meantime my work wages are cut in half and my zeros are going to stop growing.  Trump the thief becomes a real billionaire instead of the pretend one he has been.

Reverse mortgage on the house and LIVE IT UP! Round the world cruises and shit like that, no point in leaving it to any never-do-well relatives. Tom Selleck is still hawking those products for high net worth but low cash flow folks isn't it? Dunno...sounds like a potential opportunity to screw over those waiting around for you to keel over AND have a good time before it actually does happen.

This sounds like a lot, right?  In terms of being realistic, it's also pretty out of the question except for grads of Ivy League or other elite universities in a few fields, mainly finance.  We're not talking an advanced degree, just a Bachelor's.

But even with that, compare it to what you started at in 1978 with BA in investment banking at the top banks.  Typical starting salary was $50K, plus bonus and commissions in some positions.

Adjusted for inflation, $50,000 in 1978 is equal to $254,110 in 2025.

Dollar Times

This is why the Middle Class is a vanishing species.  Starting salaries at even the highest levels haven't even come close to keeping up with inflation.  To Boomers though, $100K sounds like a lot of money, particularly for a recent college grad.  A reasonably successful Boomer like Kdog didn't crack 6 digits even at the end of his career in IT with a Master's.

Besides Banking and an elite degree, about the only field I think you could hope to make 6 figures starting out now would be Nursing, and only with Overtime or maybe as a traveling nurse.  Playing pro football doesn't count.

Far as the list in the article goes, who would hire a "Consultant" right out of college?  You need experience and a track record in any field to be a consultant.  Similar with "Supply Chain Manager".  You would need a few years in logistics somewhere before you got a managerial position.  The low end of those job opening examples is a little more realistic.

https://www.msn.com/en-my/money/careersandeducation/new-grads-expect-to-earn-over-100k-right-after-college-on-average-these-are-the-top-fields-to-achieve-that/ar-AA1DttzA

New grads expect to earn over $100K right after college, on average—these are the top fields to achieve that

RE

Taking on debt to EAT is a definite sign of real trouble.  A sign also that there is a reckoning coming in the Consumer Debt sector.  Gotta wonder if the write downs have been priced in on the TBTF bank balance sheets?  There's also weakness in the mortgage market and student debt, now that the Trumpenator has cancelled forgiveness.  Commercial RE also looks bad.  Could be a Perfect Storm brewing.  Individually, maybe you could juggle it around.  All together, much harder to extend & pretend.

https://fortune.com/article/buy-now-pay-later-groceries-economic-concerns-lending-tree-survey/

A quarter of U.S. consumers are now financing groceries with buy-now, pay-later as economic pressures mount, survey says

RE

Quote from: RE on Apr 29, 2025, 01:34 AMThis is why the Middle Class is a vanishing species.  Starting salaries at even the highest levels haven't even come close to keeping up with inflation.  To Boomers though, $100K sounds like a lot of money, particularly for a recent college grad.  A reasonably successful Boomer like Kdog didn't crack 6 digits even at the end of his career in IT with a Master's.

Some Boomers cracked $100k by age 30, but drilling wells near the Arctic Circle was a bitch on homelife. No Masters required though. Now, getting back into an office required a 60% paycut. And then ANOTHER 10 years to crack $100k.

But end of career nowadays, no one is talking about $100k, I see ads for assistants to reservoir engineers going for nearly $200k within the last month on Indeed.

Quote from: RE on Apr 29, 2025, 01:49 AMA quarter of U.S. consumers are now financing groceries with buy-now, pay-later as economic pressures mount, survey says

RE

Boy the knock on effect of THIS nonsense is going to be interesting. Potentially epic. Borrowing for food is bad news, once I recall using a gas card to get some milk and staples for the kids at a gas station because we didn't have any money in the bank that week. Made me feel like a bag of shit and scared the wife and I into some good habits that with time were quite financially consequential.

QuoteK-Dog didn't crack 6 digits even at the end of his career in IT with a Master's.

   Keep fishing.

Quote from: TDoS on Apr 29, 2025, 04:02 PMSome Boomers cracked $100k by age 30

30 is not straight out of college.  You've had a few years gaining experience and working in the field.

RE

Quote from: RE on Apr 29, 2025, 07:37 PM

Quote from: TDoS on Apr 29, 2025, 04:02 PMSome Boomers cracked $100k by age 30

30 is not straight out of college.  You've had a few years gaining experience and working in the field.

RE

I generalized so as to not seem like bragging. I was 26. I had 4 years of experience in the field, but it was all operational. The big money came with switching to drilling horizontal wells at 26. $100k in the 70's and 80's was big money for snot nosed greenhorns.

Get it wrong...and you know....
https://i.guim.co.uk/img/static/sys-images/Guardian/About/General/2010/5/17/1274118899455/Deepwater-Horizon-Oil-Rig-006.jpg?width=620&dpr=1&s=none&crop=none

Yes big money for back then, but still wasn't straight out of college.  The point here though is how what sounds like big money to a Boomer really isn't anymore, and those lucky few Gen Zs who manage to get 6 figures are by 1980 standards getting a very average salary.  $100K today is $20K 1978 dollars.  Your typical middle management drone made $20K.  Union Plumbers straight outta HS made $20K.

RE