By your logic we should eliminate our nuclear arsenal too. Abolishing the FED is tantamount to unilateral disarmament. Foreign central banks will easily exploit this. Also, checks and balances seem to be more feasible than just abolishing it. I’d very much like to hear your other reasons for advocating the abolishment. Thanks.
Yea, but transparency isn’t good enough for me. If we knew what they were doing on paper half the country would die from shock. They just need to go period.
none of the articles mentioned the current fed established in the 20th century. Assuming all claims are factual, the most I can take away from that is the Fed is not constitutional and should be regulated. A rather tenuous case for abolishing it.
Yeah, I have plenty of good reasons to abolish it. For one, power corrupts. The only way to mitigate corruption is to eliminate power to as great an extent as possible. No institution should play god over the economy. For the love of god, just understand how internal politics works. It’s like an auction for a politician’s soul – you can’t beat it, you can only keep them in a confined space (limited government). But for now, if we could just make the FED transparent, I’d be fine with that.
Lending to non financial institutions is clearly illegal. So are you saying that because an institution acts illegally it should be abolished? Instead of prosecuting those responsible we should take down the entire central bank? Do you understand the vital role of a central bank or do you have any good reason to abolish it?
Those links I showed you shows why the FED should be abolished, its an illegal institution according to the Constitution. Most of the taxes and debt you pay is because of the FED. To understand it you have to know the history of the FED. I gave you links.
“You do realize that the fed can only make loans to banks right?” You almost had me thinking you were a reasonably informed person until that statement. On the other hand, the fact that you have a lot to learn means you probably aren’t completely lost. The Federal Reserve has lended to the following non – bank entities (and this is just a few): Verizon, Toyota, GE, McDonalds. The $700 B. bailout was nothing compared to the backdoor bailouts that reach $9 trillion.I want you reading news, now
I know full well how the monetary system works. I can concisely explain it to you in under 400 characters easily. I’m disappointed that you can’t do the same. It’s not that I don’t want to read the article, it’s simply that the fallacies of the first few paragraphs are difficult to get through.
Look, the information your seeking goes way beyond, trying to fit it all in a 200 character response. I can give you links the choice on weather to read and educate yourself is up to you. You have a long way to go and youtube is not a place to learn. Do Google searches on how the monetary system works Read man, READ.
You’re wrong, the FED does not own any bank. A central bank is a regulator of commercial banks. Also, under the federal reserve act, the federal reserve cannot directly lend to the government. The government obtains revenue for the bailouts by issuing bonds.
Hold my hand? It’s a simple question, you stated that the federal reserve ought to be abolished. Any proponent of an idea should at least be able to concisely state their reasons. You’re not able to. If your stance is not tenable then it’s hard to take you seriously.
They don’t, all banks are owned by the FED, hence why the FED is a Central Bank. And no the FED also makes loans to the government and bails out failing corporations with loans all of which you are debted and taxed for on the interest. Which goes to the FED.
You do realize that the fed can only make loans to banks right? Your use of corporatism makes it sound like the bank bails out non-depository institutions. How exactly does the FED favor one bank over another?
It’s not a conspiracy article, it’s real history the is left out of the books, their very short pages and all the info your looking for is there. It should take you 10 min to read it all. You ask for info and when it’s presented to you you call it a conspiracy? I don’t have time to hold your hand, read or don’t the info is there.
“All animals are equal, but some animals are more equal than others.” When the FED favors certain more influential corporations/foreign banks over others for either loans or bailouts, that is corporatism – and the Jekyll Island affair is hardly conspiracy theory. You don’t get to be at the grand meeting for establishing the central bank of the U.S. without taking blame for it.
Do just simply state a few reasons why the FED is abolished, I do not have time to read conspiracy articles.
A central bank’s relationship with commercial banks is how they control the size of the money supply, everyone who has taken a class in economics knows that. Your claim of how the fed supports corporatism eludes me. Lastly, you do not know the nature or the extent of the involvement of the financiers in Jekyll Island, therefore your conspiracy theories hold no weight.
Could you try to be more articulate in the future? Or were you drunk when you posted this.
Why does everyone bring up this idea of “isn’t the race over”? Stop bringing it up & it goes away! It’s FACT that he is still there?!?
They are looking at him, talking to him. They might as well be saying “You are a girl, yes?” …
…no god damn it… I’m still a dude.
The Federal Reserve lends money to banks at a low interest rate. Those banks lend money to people at a higher interest rate. The FED exists in its current capacity to allow corporations to profit off of government based bias. That’s called corporatism…and as far as the banks creating the FED – it’s called the monster of Jekyll Island for that very reason. Google “Federal Reserve Jekyll Island”.
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