The Federal Reserve Debt Scam As Explained By 70s TV Show 'Good Times'
Good Times explains the Fed.
'All I'm doing is borrowing my own money, brotha!'
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Bonus show clips from Good Times:
Start watching at 1:15.
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Busting Thelma.
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Kid Dy-no-mite
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Theme Song - Acapella Version
LYRICS
Good Times.
Any time you meet a payment. - Good Times.
Any time you need a friend. - Good Times.
Any time you're out from under.
Not getting hassled, not getting hustled.
Keepin' your head above water,
Making a wave when you can.
Temporary lay offs. - Good Times.
Easy credit rip offs. - Good Times.
Scratchin' and surviving. - Good Times.
Hangin in a chow line - Good Times.
Ain't we lucky we got 'em - Good Times.
Reader Comments (7)
Very cool find. Glad you posted that.
It was just a lucky find on youtube. Agreed regarding the writers.
10 Facts You May Not Know about the TV Show, “Good Times”
http://blacklikemoi.com/2012/03/10-facts-you-may-not-know-about-the-tv-show-good-times/
Under normal functioning our government does not borrow money from the Fed. The Treasury holds a bond or bill auction and the proceeds fund our government. It is only in the past 3 years that the Fed has begun buying Treasuries both at auction as well as in the aftermarket. This, along with buying MBS and agency debt, comprises QE as you know.
However, you are correct that the Fed doesn't borrow from the government, so they did get that part of the cycle wrong. The Fed historically has managed the money supply and interest rates and that's it. The concept of buying Treasuries is recent and temporary, and has been undertaken as a means of keeping interest rates low, part of their actual mandate. Do not confuse my explanation for support. QE is a mistake and Bernanke will eventually pay the price.
I believe it's important to add that the only reason banks are able to create money out of thin air and get away with it is because of the existence of The Fed that serves as a lender of last resort and because of Government enforced legal tender laws that force people to accept this inflated currency.