If The Federal Reserve Is Abolished, What Then?
Submitted by Tdogg8008 on Wed, 02/08/2012 - 13:12in
Many critics of the Federal Reserve won't be satisfied until the agency is shut down for good.
But abolishing the Fed only raises the bigger issue: What would-or should-be in its place?
The debate is hardly new. Efforts to set a cohesive national monetary policy through a central bank in the U.S. have been many and turbulent.
However, pushing the Federal Reserve building into the Potomac River wouldn't be easy. Let's see how the process could play out.
http://finance.yahoo.com/news/federal-abolished-then-1634486...
Someone asked "If we End the
Someone asked "If we End the Fed, what would you replace it with and I replied, When you remove a cancer, what do you replace it with?" -Thomas Sowell
Charles Ballard
FREEEEDOMMMM!
.
That
was my first thought. How to get rid of it is fairly simple. Larry Becraft went to every state capitol and looked up their vote on the 16th Amendment. It never got the required votes to pass but Philander Knoz lied and said they did and declared it in effect. Repeal the 16th on those grouds and tell those thieves to go back to Europe.
Live Free Or Die
"The tie to gold was
"The tie to gold was completely broken in 1971 by President Richard Nixon. What's left is called a system of 'fiat money' in which currencies are backed by the 'good faith' of their government rather than a metal like gold."
Yeah, which is of course completely at odds with a democratic system and rule of law, which assumes that you can't trust the government and need a constitution to protect the citizens against it. It also assumes you can't trust people, so you need rules and regulations to stop them from hurting the government, other people or themselves.
If those are the founding principles of the system, and they are. I can't trust the government, so there's courts, but the courts don't trust me so they need evidence, and the courts don't trust the government, so there's immunity and the government doesn't trust the courts, so there's laws and the government doesn't trust me and I don't trust the government so there's more laws and the democratic process, which we also don't trust completely, because we've made it a representative democracy, which we don't trust completely either because people never like politicians and we have to fake this kind of trust where they pretend to ignore that and make promises they can't keep and we both know it but we still cheer them on.
Why do I all of sudden need to have 'good faith' in the government?
I don't know what should replace it, if anything. I just know that what I just described makes no sense to me.
Freedom Broadcasting Network - independent grassroots network
www.fbn.tv
We party like it's 1912
or some better year preferably
First make it "legal" to establish competing currencies
that individuals can use to transact business.
Let the free markets determine what currency is best, and allow different markets to use different currencies.
When this has taken root, ending the Fed is simply a formality.
=======
RON PAUL 2012
Wow, the comments at Yahoo are amazing!
I do believe the public is getting itself educated economically, though the media lags far behind.
Hi Tdogg8008
I haven't read the article yet, but...
If an orderly clearing of the market and liquidation of debt is desired, then we need Ron Paul's Free Competition in Currency Act passed.
With that said, here is a partial quote from Reason Magazine from 1987 about underground markets and what would happen to the underground market if the government got out of the way:
A whole new market structure could appear almost overnight -- as if by an 'invisible hand'.
"If we lose freedom here there's no place to escape to. This is the last stand on earth." -Ronald Reagan
When they took us off the Gold Standard they took away our money... in order to make it theirs. -OneTinSoldier
So it isn't about immediately
So it isn't about immediately ending the Fed but an audit and the Fed will end itself by RP establishing competitive currency for us and challenging the corruption of counterfeiting.
Do I have this correct?
Yes, once
The Fed is audited, then ALL will be able to plainly see in the light of day why The Fed needs to be ended.
"If we lose freedom here there's no place to escape to. This is the last stand on earth." -Ronald Reagan
When they took us off the Gold Standard they took away our money... in order to make it theirs. -OneTinSoldier