[dennisw]

There was no Federal Reserve during the panic of 1873. 
Abolishing the Fed is not a perfect solution but I would get rid of these useless over paid shits tomorrow if I could

Four months ago our Federal debt was 10 trillion
Since then under Paulson's direction we have piled on another 8 trillion.
This is beyond comprehension
The sub prime mess is worth one trillion so is relatively containable
Blame Wall St and their derivatives and credit default swaps for the other 7 trillion in bailouts
Blame the Fed for not clamping down on derivatives
Quite the contrary, Allen Greenspan loved derivatives.
He loved their ability to hedge against risks
So what use is the Fed?
They stood by while this derivatives mess mounted>
Fire their asses and let them flip hamburgers, they are beyond useless, they are malignant

[djsherin]

But there was the National Banking Act which created a quasi centralized banking system with money being pyramided on top of reserves. In practice, the system functioned much the same as if there were a central bank.

[FBD]

good video, Glenn Beck gets it:

http://www.youtube.com/watch?v=LX2DgN1VYgQ