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Forum Post: alot of talk about the FED what do you think?

Posted 12 years ago on Oct. 5, 2011, 2:48 p.m. EST by Fallspring (30) from Silver Spring, MD
This content is user submitted and not an official statement

Yes I am well aware of the fed problems, But I like safety nets, I think they are helpful, I do not believe in over regulation just bad regulation. we need to try more regulation and if it doesn't work fix it, instead of doing nothing like we are now. and to be honest we can not predict what will happen if we do abolish the FED. it could be really ugly. A run on the banks would not only hurt the banks. the consequenses of abolishing the fed is a big deal. That clutch is like the Federal Reserve. By not being the government and not being the economy, it acts as a buffer between the two to allow the rates to change between them without blowing either one up. If it was replaced by a governmental body, you would risk control issues between the economy and the government and force a lot more risk into the government. Every major industrialized economy utilizes some form of central bank. If the Federal Reserve were to be dissolved, something would have to take its place. The reason most countries do not give that responsibility to its Treasury department is because that is usually too close to the politicians. Politicians love to make decisions based upon their short-term interests and do not care much about long-term forecasts. If you think this recession is bad, just wait until the politicians control the money supply. are you suggesting that we let private banks regulate the money supply and set their own reserve/overnight lending rates? does that sound feasible and or smart? I do not love the fed man I just want to be realistic and demand actions that could possibly happen and will help bring the top 1% to their knees without hurting the rest of us. keep up the fight my friend.



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[-] 1 points by HankRearden (476) 12 years ago

Glad the issue has attracted your attention. The rest of your post indicates a few misconceptions about what the Fed is and how it works.

Google 'Money As Debt', and invest about 45 minutes of your life watching the video to see how our money system really works.

Free money-printing IN SECRET means you can buy anything, and control everything. Including most of the ideas that you get exposed to. Think about it.

[-] 1 points by moneyandbanking (45) 12 years ago

Yeah, look up the founding of the Federal Reserve System. It was created by a group of international bankers (competitors) who represented nearly 1/3 of the wealth of the entire world at the time. They sold the whole thing to the public as a way to "break the grip of the money trust." Ha!

[-] 1 points by moneyandbanking (45) 12 years ago

The point is that there is no reason whatsoever for the government to monopolize money and banking. We need freedom in those areas, not central planning.