The Federal Reserve is a Cartelization Device

I am not trying to attack my opponent by saying he believes in conspiracy theories. On the contrary, I am actually, rebutting his agument which is complete conspiracy. Thus far, my ooponent has done nothing to prove this conspiracy theory to be tue.Rebutt - Not counterfeit money and does not trickle down unevenlyMore money gets circulated in economy by a few different monetary policies the Federal Reserve uses. In economics money has a multiplier effect, which means money does trickle through economy. The commercial banks, which the Federal Reserve lend to, have no way of knowing what the loans are spent on. However, when somebody takes out a loan they are usually spending money. Which then means, the multiplier effect goes into action.1)http://money.howstuffworks.com...2)http://www.investopedia.com...Rebutt - Jekyll Island was not a grand cospiracyWith the quotes that you provided you proved that the Jekyll Island group did not know what they were doing. When they were first told to meet they had no idea they were working on the Fedral Reserve. That means they did not have a plot to come together and drive out competition or increase profit. As far as them being bankers and representing their banks. They were only brought together by the government to draft a proposal. Similar to how experts on subjects are and should be consulted when bills are put together. Then after the experts are consulted, in this case bankers, the legislature can change the bill how they see fit. The experts ensure the most benefial bill is drafted and the legislature ensures that the experts did not make the bill favourable to them.1)http://www.washingtontimes.com...Rebutt - Federal Reserve does not eliminate competitionOpponent - "Banking firms outside of the Federal Reserve do not benefit as much as the members of the Federal Reserve do."That means nothing, as any bank can choose to join the Federal Reserve. The fact that anybody can join the Federal Reserve is actually an argument that the Federal Reserve does not drive out competition.Opponent - "When the Federal Reserve creates money, big bankers and government agencies are the first to receive it. This is why inflation is a tax. And this is their profit. Being able to create money from nothing."How do you figure big bankers and govermen angencies are the first to receive it? The truth is, any bank that is in the Federal Reserve can take advantage of the Federal Reserve monetary policy changes. 1)http://en.wikipedia.org...RebuttOpponent - "It was created by people who represented the names of independently owned businesses. How else do businesses cooperate? By using people to represent them. I have provided more than enough evidence to prove this. "The part where my opponent fails is that they did not come together for the benefit of their banks. They were brought together by a government official to help the government. In other words, they were consulted on the matter since they are experts. The Federal Reserve was created by the goernment not by businesses. Opponent - "The Federal Reserve counterfeits money. Counterfeiters always have the benefit of having that money first and being able to decide where that money directly goes. Banks are able to charge interest on money that comes from nothing. Competition is driven out because banks have the option to become members of the Federal Reserve where they are free from competition and free from the fear of going under. 'My opponent neglects the fact that anybody can join the Federal Reserve and most banks are part of the Federal Reserve. That then means, anybody has access to money the Federal Reserve puts into circulation. The loans are not limited to selcect banks.1)http://www.newyorkfed.org...Opponent - "As I already explained, the Federal Reserve counterfeits money. Counterfeiters benefit over the people who receive it later. The new counterfeited money ripples down the economy unevenly benefiting the government and the banks. The poor are left with higher prices and no higher profit. This is why inflation is a regressive tax."My opponent is lacking basic Monetary Policy knowledge. Which makes it incredibly hard to argue against something that makes absolutely no sense. Monetary Policy does not help certain classes, it eithers helps the whole economy or hurts the economy. My opponent has failed to prove his assertion. Namely that, the Federal Reserve was created by businesses, to increase profits and to drive out competition. In addition, last round he used no sources to back up his points, which means they have no credibility. If my opponent wants to put forth a substantial argument he needs to provide sources for them.