Should the United States Abandon the Federal Reserve System?

Economics Wire ^ | March 9, 2017 | Viliyana Filipova / Mr. Conrad

[TruthInThoughtWordAndDeed]

Is the Pope Catholic? Does a bear ___ in the woods?

[freddy005]

Absolutely Positively YES!!!!!!

[trebb]

For sure - not to mention that my wife and I are among the minority because we waited to buy things and passed on others so we could be solvent during retirement.....

[Buckeye Battle Cry]

Yes.
YES.
And HELL YES!!!!!

[momincombatboots]

Interesting.. I didn’t know that. Of course we should get rid of it, but it would require a lot of planning. Us working class folks just don’t have time for that.

[Rurudyne]

Well, I should say “probably cost him his life”.

The point of the silver certificates was to issue United States Treasury notes, not Reserve notes. Had he not died, and especially if he had seen a second term, it is possible that a serious check to the federal reserve’s power would have been in place.

Whilst LBJ was noisily ramping up socialism he quietly ditched the one truly good thing Kennedy was trying to do.

[itsahoot]

That’s not important, unless you want to hide cash in your mattress for 100 years.

Idiot. Inflated wages push you into a higher tax bracket with zero increase in purchasing power. Savings even though they grow through interest compounded, the purchasing power is less than it was when you deposited them. How is that good?

All that is good of course for people like George Soros. Working people which make up 98% of the population get shafted and you know it.

[itsahoot]

Interest bearing loans also predates the invention of money

Dollars issued by the Fed are interest bearing as well so they will alway be worth less than the face value. So there can never be enough dollars in circulation to pay off the debt. Way past time for the Fed to get soaked and Constitutional money be coined.

[ml/nj]

The Fed is a system just like the government of the US is a system. What that means is that no one controls it, and that it is much bigger than any one person or group of people could ever control.

What nonsense!

Of course, the Fed is controlled. Somebody decides when to turn the crank and issue more greenies. Even worse is that someone at the Treasury prints some I-Owe-Me's and both sides think they have created wealth. Why would they ever stop?

Gold is the "system" that these people cannot control. Gold doesn't depend upon a third party like the US Government to maintain its value. Greenies and I-Owe-Me's would all be absolutely worthless if the US Government ceased to exist.

ML/NJ

[zeugma]

And some would say that abandoning the progressive era’s Federal Reserve system in favor of the monetary system spelled out in the constitution would be dangerous. I mean sure, the Fed has robbed us of 98% of the dollars value since it was created, BUT we get protection from depressions and a boom and bust cycle.....Oh, wait. /s

The creation ofthe Federal Reserve in 1917 was heralded as "the end of the business cycle". Didn't take long for the Great Depression to disabuse us of that notion.

[zeugma]

1917 1913

[hawg-farmer - FR..October 1998]

Then why did the FFathers want our currency backed by Gold/Silver, AND Why were they against Central Banking. You need to read “The Creature from Jekyl Island”... heh heh

[DannyTN]

The Creature from Jekyl Island has been thoroughly debunked.

[hawg-farmer - FR..October 1998]

Citation required. Every thing that it states has come true. heh nheh We have a Central Banking System, we have a Federal Reserve, Sheesh, We have a Progressive Tax System... WAKE UP SON!

[litehaus]

“Should the United States Abandon the Federal Reserve System?”

NOT until it AND the ‘member banks’pay off the national debt with the money they they stole this last go-around from all the SAVERS in the USA !