End The Payment of Interest on Reserves while the Fed is "losing" money

Discussion in 'General Discussion' started by, Sep 16, 2013.

  1. Member

    The Federal Reserve has issued a report that starting in 2015 the organization projects that they will "lose" $125 Billion over a 5 year period. This is directly a result of the asset purchases that the Fed made to bail out the banks. The "loss" of money will be a result of paying Interest on Reserves which was only implemented as emergency measures in 2008.

    What can you do to protest this continued "bail-out" of the banks while the taxpayer loses even more money!?

    Turn in your "unfit currency". Unfit currency is the equivalent of a ripped up dollar bill that has been tapped back together. Banks take this currency in exchange for new currency and then return it to the Federal Reserve Bank of San Francisco for destruction. If we all organize a specific date to turn in our "unfit currency" it will significantly "gum-up" the system for the destruction and creation of new currency. This action will be coupled with very specific demands; We will stop when congress passes a law outlawing the payment of Interest on Reserves while the Federal Reserve is running a "loss". (Loss is in quotes because the Federal Reserve prints money, this is not a true loss, just additional money creation. However, the lack of $50 Billion being deposited in the Treasury every year for a 5 year period will definitely be a LOSS)

    I have been working on a new Issue platform as I believe the current platforms that only work to petition or raise visibility is a waste of time. We must be smart enough to come up with our own actions to force change to happen.

    The issue and all of its details are hosted here:

    And the best part is that I want your ideas. The platform is structured to filter out the noise and have the best ideas "voted" to the top. So if you have a better idea for an action or if I miss understood the way things work that help me correct it.
    I have created a new platform to focus the discussion of issues to advance problems to the best possible solution by using the "wisdom of the crowd" and filtering out the noise.

    The use of an "Action" section that is separate from the "Solution" section allows those that support an issue to come up with both; "What should we do about it?" and "What do you want me to do to get this done?"

    Also, I would love some help and visibility with this idea. Please create any issues that you think the community should work on and let me know if changes can be made to make the site even better.

    Thanks everyone,
    "The cure for the common apathy!"
  2. Anonymous Member

    Spam reported
  3. Anonymous Member

    Don't think it is spam.
  4. Anonymous Member

    He posted the exact same stuff in another thread.
  5. Anonymous Member

    Dear OP,
    Please refrain from making the same post in more than one thread. That is considered thread spamming which could cause you to be banned. Thank you!
  6. Member

    Yea, my bad. I saw the Projects section after posting here and then realized it would be better in that section.
  7. Anonymous Member

    The other thread seems to be the active thread. I'm going to move this one out of the way to prevent confusion.
    • Like Like x 1

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