Critical Thinking Exercise! Central BankingSubmitted by AmericanFreedumb on Thu, 07/26/2012 - 00:51
I have read "End the FED" and "The Case Against the FED".
So, I understand well the negative aspects of the Federal Reserve System. I have a Bachelors Degree in Economics for what it's worth.
In order to be unbiased, certain of my position, able to combat opposite positions, and generally intelligent, I like to understand both sides to each position.
I've researched for a list but I cannot find one. I'm looking for essentially the CASE FOR THE FED/CENTRAL BANKING. If anyone can find such a thing, please post a link here.
Until then, let's brainstorm reasons that the FED is a good thing.
Please don't respond with drivel like "there aren't any positives" or "end the fed." Let's be intelligent.
I will start with a couple:
1. Those with long term debts (most people have mortgages) will earn more money over time due to inflation while their debt payments stay the same. Therefore, less of their future income as a percentage needs to go towards their long term debts. This is true for individuals as well as businesses. Granted, a central bank could be designed to have zero inflation.
2. A single currency used by all people in an entire country is pretty darn convenient
Please help add to the list!