Economic Reform is Needed
- Thread starter Rage9
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Pretty simple our own bank run by our government. We can just as easily print our own money. We did it in the colonial days [colonial script], and we did it around the time of Abe Lincoln [green backs], and a few others.
Why can't we seem to do it today? That's why reform is needed.
A good outline of a system can be found here
I say we should abolish the Federal Reserve namely because I think 1) the free market would do a better job at establishing normal interest rates and directing inflation, and 2) because it's unconstitutional, and because 3) there aren't enough checks in place (at the very least the Fed would need some massive reforms)
The Federal Reserve can create money out of thin air. They just adjust their books and bam, money out of nowhere. There's no denying this is a dangerous responsibility. When they increase the money supply they increase inflation. When inflation is increased the value of the average citizen's dollar is decreased. Essentially, the Federal Reserve can "tax" U.S. citizens simply by increasing the money supply. Essentially, they can rob you of your money right out of your savings account without (the average citizen) even realizing it.
Replace it's functions with what? With the free market. Let the free market determine interest rates and inflation rates. Ideally, we would establish a gold standard. After that, all "necessary" functions of the Fed should be returned to Congress, as it was originally intended in the Constitution.
Intersting that the responses to my question go two different directions. As I mentioned above, a completely government controlled monetary system is not ideal because of political reasons. Politicians tend to pander to voters over making sound decisions. I find this especially true on economic policy. Six hundred dollar tax rebates with a massive deficit comes to mind.
One of the Fed's primary goals is maintining low, stable inflation. Printing money isn't the only cause of inflation. Considering the Fed's goal of keeping inflation low, printing a bunch of money isn't likely to happen. I don't mean to sound too idealistic here, but given the 'arms length' nature of the agency, there really isn't a reason they would be inclined to reverse policy.
There is a reason the gold standard was abandonded around the world. In a world economy, it just isn't that practical. With a backed currency, the economy would be much more tumultuous to keep finding equilibrium. The current system keeps things much more even and predictable.
Rage9 is dead on. The Federal Reserve is one of the biggest scams that the American sheelple have fallen for and nobody will talk about it in mainstream media.
America is not owned by the people (and hasn't been since 1913), but rather the International Banks controlled by Rothschild, Warburg, Rockefeller and others.
I think the only way for this to fix itself is for a crash because the cattle we call Americans don't give a shit and keep spending.
This whole topic goes pretty deep and requires much more research than most people are willing to give it.
America is not owned by the people (and hasn't been since 1913), but rather the International Banks controlled by Rothschild, Warburg, Rockefeller and others.
I think the only way for this to fix itself is for a crash because the cattle we call Americans don't give a shit and keep spending.
This whole topic goes pretty deep and requires much more research than most people are willing to give it.
The issue is not the FED. The issue is sound money. Until you get rid of a fiat currency and have sound money, the issue with a government controlled central bank will be the same. Who do you think owned the Weimar banks? The South American banks? Who runs the Zimbabwe banks?
The Money Masters guys are ok, but they want reform, when reform is just a bandaid. You have to fix the money so it can't be counterfeited, not change the counterfeiter.
The Money Masters guys are ok, but they want reform, when reform is just a bandaid. You have to fix the money so it can't be counterfeited, not change the counterfeiter.
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