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What Happens If We End the Fed?

http://finance.yahoo.com/news/happens-end-fed-185459981.html

"The "End the Fed" movement appears to have a lot going for it these days. Its adherents now include both conservatives and supporters of the Occupy movement. Perhaps its most prominent proponent, Rep. Ron Paul, has garnered respectable poll numbers in the 2012 Republican presidential race and blasts the Federal Reserve at every opportunity. Plus, the succinct slogan fits well on protest signs.

Removing the institution at the helm of U.S. monetary policy since 1913 seems unrealistic, though, and opponents consider it a crazy idea, even dangerous. However, proponents keep up the call, using an array of arguments from economic theory to promoting liberty."



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SteveMT's picture

Thanks for this story.

Posted comment over there.

Wow! A story that actually has Ron Paul mentioned and in a positive way. Thank you for writing it.
The Federal Reserve is not federal, and there are no reserves. This is a privately run bank that has no allegiances to America. There aim is to put us into debt, and to keep us in debt. Our currency is debt-based, and there is nothing backing it up. No value-based currencies exist in the world today. Competing value-based currencies is way out of this mess. Following the Constitution is the way out of this mess. Electing Ron Paul as the next President of the United States is way to stop this corrupt group of money masters from continuing to manipulate the People living on this planet. End the Fed with Ron Paul.

We ended paper money 1879...

And we did just fine.

On top of that, Ron has said that he won't "end the fed" as much as he'd allow competing currencies. Want to use Gold? Silver? Yen? Euro? Go ahead and use what you want. Ultimately, the free market will end the fed when people find out how much more stable gold is. That's how gold became the de facto currency for over 6000 years. The free market discovered it's value as a reliable way of storing wealth due to it's scarcity, non oxide properties, and it's soft density made it easy to mint.