They create money out of thin air so they do spend our money because the money they create is legal tender which means that all of our money gets devalued when they spend it.
Once again, why not have every part of our government run by a secretive bunch of elites who answer to no one or if they answer to someone its about something immaterial.
Why vote? Eh? You like secretive organizations running everything? You would prefer that to congess?
There is no value to independence when you are not independent of the people you are allowing to be independent.
If independence is good, how about they can’t mess with our money supply eh? Oh right its only good when they are untouchable and can hold power over us.
Its a pretty obvious principle that a balance of power is a good thing and that some people have to know what other government-granted power-holders are doing with their power. We have a right to know that that power is being wielded correctly.
However, since I am a capitalist I don’t want a federal reserve at all. I believe in this thing called a free-market. May be a foreign concept to some.
“Once again, why not have every part of our government run by a secretive bunch of elites ...”
Are you talking about CIA, the Supreme Court? No? The Fed?
You mean that group that testifies to Congress every 6 months, has a yearly audit and has the meeting minutes published 6 weeks after each meeting?
It’s no more ‘secretive’ than your average school board IMHO.
“Why vote? Eh? You like secretive organizations running everything? You would prefer that to congess?”
I would prefer a non-political organization determining the money supply. God standard, a bunch of bankers, a computer program - any of those choices is preferable to politicians misusing the supply of money.
“If independence is good, how about they can’t mess with our money supply eh?”
Because ‘money supply’ is not something you or anyone owns. I would certainly support Congressional legislation that dictates that the Fed cannot mess with our money supply but instead have one and only one goal - the maintenance of a stable value of the dollar.
“Its a pretty obvious principle that a balance of power is a good thing and that some people have to know what other government-granted power-holders are doing with their power.” - It’s obvious that much of the argumentation vis a vis the Federal Reserve consists of strawman arguments.