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11 Reasons Why The Federal Reserve Should Be Abolished

I know this is preaching to the choir, but, this is a good article with explainations even the sleeping masses should be able to understand. I'm gonna print up a bunch of this article and get them into the hands of the sheeple.

If the American people truly understood how the Federal Reserve system works and what it has done to us, they would be screaming for it to be abolished immediately. It is a system that was designed by international bankers for the benefit of international bankers, and it is systematically impoverishing the American people. The Federal Reserve system is the primary reason why our currency has declined in value by well over 95 percent and our national debt has gotten more than 5000 times larger over the past 100 years. The Fed creates our "booms" and our "busts", and they have done an absolutely miserable job of managing our economy. But why do we need a bunch of unelected private bankers to manage our economy and print our money for us in the first place? Wouldn't our economy function much more efficiently if we allowed the free market to set interest rates? And according to Article I, Section 8 of the U.S. Constitution, the U.S. Congress is the one that is supposed to have the authority to "coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures". So why is the Federal Reserve doing it? Sadly, this is the way it works all over the globe today. In fact, all 187 nations that belong to the IMF have a central bank. But the truth is that there are much better alternatives. We just need to get people educated.

The following are 11 reasons why the Federal Reserve should be abolished...

#1 The Greatest Period Of Economic Growth In The History Of The United States Happened When There Was No Central Bank

Did you know that the greatest period of economic growth in U.S. history was between the Civil War and 1913? And guess what? That was a period when there was no central bank in the United States at all. The following is from Wikipedia...

The Gilded Age saw the greatest period of economic growth in American history. After the short-lived panic of 1873, the economy recovered with the advent of hard money policies and industrialization. From 1869 to 1879, the US economy grew at a rate of 6.8% for real GDP and 4.5% for real GDP per capita, despite the panic of 1873. The economy repeated this period of growth in the 1880s, in which the wealth of the nation grew at an annual rate of 3.8%, while the GDP was also doubled.

So if our greatest period of economic prosperity was during a time when there was no Federal Reserve, then why shouldn't we try such a system again?

Continued:
http://theeconomiccollapseblog.com/archives/11-reasons-why-t...



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even though it may be preaching to the choir...

Still appreciate it. That's part of the reason this site exists imo.

Homeland security statement: patriotism is now considered terrorism.
I love www.isidewith.com shared it with everyone I know. If anything they realize its not just a red and blue idiot running for reelection.

One Reason

and one only --it destroys my wealth

I smell greenbackery

He seems to imply the treasury should inflate directly. Certainly that's what the Thomas Edison quote says.

Here's another Thomas's opinion on the matter, one who knows a bit more about economics than Mr Edison.

Thomas Sowell, when asked if the Fed was done away with, what should replace it?:

"When someone removes a cancer, what do you replace it with?"

I've always felt the if every citizen read

the book Bought and Paid For by Gasparino there would be a massive revolution, hopefully non-violent by the right and the left! The Occupy WS people were on the right track, but I think the media damaged the legitimacy of the movement by showing the nutters, plus it seemed no one ever was interviewed that could put two thoughts together, PLUS, they never (or maybe it was just media perspective with a purpose) directly linked/blamed Obama's staff holding key positions that were at one time bankster execs, the very people who caused the financial collapse. It just devolved into a childish anti-capitalism party held by a bunch of unemployed hippies. Much like the Tea Party, EVERYONE (right and left) should have been on board with the movement to quash special favors to the banksters, but the media destroyed the message, the honorable beginnings of the Tea Party eas transformed into the current image of the nutty racist fundamentalist self serving capitalist type, now there's no hope of getting the two groups to see their similar cause. Seems like now it's just the norm that Wall Street owns the government and we have to just accept it, but Gasparino's book is an amazing in depth look at just how deep the link between government and Wall Street is, and I think even the conscious voters would be amazed and disgusted!

that's what i always hoped about ows

I hoped that they were really against the banks and the fed. It never really showed in any of the people though. Some seemed intelligent enough to get it but then it became this rally that anti-capitolists and socialists flocked to. I had hoped that there were Ron Paul supporters who were mixed into the crowd educating the masses and explaining "This is what you are really mad at, the fed and the banks are your real enemy. Not capitalism." That never seemed to show fruit even if there were like minded people of ourselves there. If anything, it only drove them further away from the real reason they should've been mad or angry. Disinformation working at full-tilt.

Homeland security statement: patriotism is now considered terrorism.
I love www.isidewith.com shared it with everyone I know. If anything they realize its not just a red and blue idiot running for reelection.

Does any know what the Fed

Does any know what the Fed does with all the money they get as interest on the national debt?

all profits goes

to the USG

The blame lies with Congress.

The blame lies with Congress.

You may embarrass yourself by handing this out

The one problem with this article is that you excuse the real perpetrators of the responsibility for doing this to our country……..the perpetrators are not the evil bankers but those that write the laws in which they hide behind…..and this goes all the way back to Alexander Hamilton.
My problem with all the conspiracy theorist is that they never really get around to placing the blame at the real perpetrator’s and that is our government.

SteveMT's picture

The bankers printed the money that bought the politicians.

They all took the money and sold their soul to the devil except for one Congressman named Ron Paul.

To be fair:

I'd put Dennis Kucinich on there as well. He's worked with Dr. Paul quite a few times on legislation.

If you don't know your rights, you don't have any.