-17 votes

Why We Shouldn't End the Fed

Demanding an end to the Fed is akin to begging for a better master rather than seizing one's own freedom.

If "we" abolish the Fed, do we get monetary freedom, or just a new scheme, administered by the state?

If the goal is gold money or silver money free from state intervention, we have that right now.

Pay your taxes in dollars, and keep your savings in gold and silver. It's that easy.

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We don't have freedom when

We don't have freedom when the Fed can destroy the entire economy. You completely forgot about the business cycle.

Ventura 2012

Gold manipulation on the price index: Smoking gun

"GIN: Is gold manipulation done mostly through leases, swaps and selling gold?

CP: Not only gold, but futures and options as well. They are hugely capitalized operations, so they have very deep pockets. The can probably sell gold futures and options to an extent that no buyer can compete with them. And most buyers will be driven out of the market by the amount of imaginary gold that central banks can sell because they have the ability to create money in infinite amounts."
http://goldinvestingnews.com/33634/gold-price-manipulation-g...

Further proof of why we should End the Fed- GATA

Gold prices + currency trade openly manipulated - front page news proof

http://www.westernjournalism.com/wikileaks-drops-bombshell-o...
"With an avalanche of ever-tantalizing news stories and upcoming nail-biting scheduled officialdom events in both Europe and the U.S. all hitting the gold market at once in September, discerning the story that could propel some distance from Jim Sinclair’s exosphere target of $1,764 in the gold price weighs heavily in favor of the WikiLeaks story and its potential explosive impact on the price of gold from today $1,900 print to Sinclair’s ultimate target of $12,000+.

Though the European financial crisis soap opera moves from Greece and Portugal to, now, Italy and Germany, shifting temporarily away from France, with Belgium’s dirty laundry on deck in case there’s a lull in the action, the WikiLeaks release of a U.S. State Department internal cables on the subject of Beijing’s plan for undermining the U.S. dollar through the gold market even trumps the Israel/Turkey potential gray-swan military conflict brewing in the Mediterranean (could ex-CIA operative Robert Baer be right about an Israeli attack in the region by the fall?).

The leaked State Department U.S. embassy cable – 09BEIJING1134, published by WikiLeaks exposes both the clandestine operations at the Fed/Treasury as well as reveals who’s been sleeping with the enemy.

According to China’s National Foreign Exchanges Administration, China’s gold reserves have recently increased. Currently, the majority of its gold reserves have been located in the United States and European countries. The U.S. and Europe have always suppressed the rising price of gold. They intend to weaken gold’s function as an international reserve currency. They don’t want to see other countries turning to gold reserves instead of the U.S. dollar or euro. Therefore, suppressing the price of gold is very beneficial for the U.S. in maintaining the U.S. dollar’s role as the international reserve currency. China’s increased gold reserves will thus act as a model and lead other countries toward reserving more gold. Large gold reserves are also beneficial in promoting the internationalization of the renminbi.

And now we all know that Beijing knows of the gold suppression scheme, and that Washington knows that Beijing knows of the scheme. So what does that mean for the gold price?"

scawarren's picture

We need to repeal the Legal

We need to repeal the Legal Tender Laws and then the Fed would be ended!

It is easier to fool people than to convince them that they have been fooled. – Mark Twain

Wrong

At least wrong as stated.

But if you mean.. all we need to do is repeal capital gains taxes and legal tender laws, then yes.

We don't need to 'end the fed' the fed will end itself. We just need to be able to safeguard our earnings without being taxed and be able to use them in the market.

But if it were ended directly it would be more humane for everyone else that hasn't a clue. America could be saved for a few more decades if the fed was ended, but this seems unlikely. Absent that all we can do is save ourselves.

fireant's picture

We should end the Fed, but that won't solve the problems.

The Fed is a convenient dereliction of Congressional Duty so they can focus on all the unconstitutional stuff they are bogged down with. Regulating the value of currency is a key function of Congress. Our problem is we do not have a sober Congress.
If we will simply return to the States those powers not delegated to the federal government, the congress can be restored to two houses (there is only one at present), and the feds won't be reaching into our pockets for their revenue. The federal government wont have all these programs which causes it to borrow. All those functions will be done by the states, who have no authority to print money.
Repeal of the 16th and 17th is the way to accomplish this. Ending the Fed, going to a gold standard, or any of the other ideas, will not address the core problem, which is an unconstitutional congress. I don't want them regulating anything, let alone the value of money, until we restore the congress to constitutional status. I'll be fine with them regulating the money at that point, and the fed itself will be unnecessary.

Undo what Wilson did

Agreed. Decentralized currency is the real key

Make sure to read all about why only decentralized power is the best power.

http://www.mises.org

It really should be: end the fed and the BIS

If you really think that the gold and silver are free from state intervention, you must be smoking something.

Gold and silver have been manipulated since the 70s and likely earlier to stabilize the dollar first, then to enforce the petro-dollar standard. This extreme manipulation of metals, currencies and global markets have been accomplished through the Fed, and the Bank of International Settlements (an absolutely evil organization in it's own right).

So the short of it is: The gold market is continuously attacked to prop up the petro-dollar standard, which is effectively a USD backed by the US military.

So, every day the fed exists, more kids die in the interests of status quo, lives are destroyed, families murdered and markets warped. You still don't want to end the fed?

End the FED because there is no more need for it: Bitcoin!

A few years ago, a post like this would have had me thinking for a while about the need for the FED.... now, not 1 second, not even a millisecond of brain-time will I waste!

Why?

Because the FED has already become completely unnecessary (as well as all the other Central Banks) with the invention of Bitcoin.

This is similar to the guild of handwriting copiers, or manual block printers being replaced PERMANENTLY by better technology

http://en.wikipedia.org/wiki/Printing_press#Printing_revolution

To understand this, one simply needs to understand what Bitcoin is as a protocol, and what all it's unbelievable potential is

start here:
http://www.youtube.com/watch?v=LP4GSvQUtBw

Just plain 'Happy'about the direction the world is taking! Especially if we live to reach LEV [Longevity Escape Velocity]

Good idea except that when

Good idea except that when you convert your gold to dollars to pay your taxes you pay an insane capital gains tax.

I must be willing to give up what I am in order to become what I will be. Albert Einstein

Not quite.

If your gold lost nominal value, you'd get credit back.

If your gold stayed the same, you pay no gains.

If your gold gained nominal value, you're out some fraction of your gains.

How is this inferior to hanging on to dollars?

The existence of pieces of paper that say "Federal Reserve Note" still isn't the problem.

Author of Shades of Thomas Paine, a common sense blog with a Libertarian slant.

http://shadesofthomaspaine.blogexec.com

Also author of Stick it to the Man!

http://www.amazon.com/Stick-Man-Richard-Moyer/dp/1484036417

when you have a blood sucker on you

won't you want it off? How is the biggest ponzi scheme any different? the banks are like leaches on the American economy sucking their profits off of every transaction we make.

The FED is just a house of leaches! Time to pull an Iceland!

Gold standard: because man can not be trusted to control his greed

Government merged with corporations needs to end

Here it is once again. Read it for everyone, get it to your candidates.
http://bastiat.mises.org/?p=5625

Local is best, toss the Fed.

fireant's picture

That is absolutely a fact.

It goes all the way down to the local level with Public/Private Partnerships and tax incentives for selected new businesses. This is fascist to the core, and clearly unconstitutional.

Undo what Wilson did

Exactly, right?

"Every transaction we make" being the key words. You've got to stop playing the game, not banning the poker chips.

Devaluation of currencies has happened for thousands of years, and isn't only possible with a central bank printing paper money.

Author of Shades of Thomas Paine, a common sense blog with a Libertarian slant.

http://shadesofthomaspaine.blogexec.com

Also author of Stick it to the Man!

http://www.amazon.com/Stick-Man-Richard-Moyer/dp/1484036417

And here's why we should end the Fed and replace it with none

http://www.silverdoctors.com/is-jp-morgan-getting-nervous-ab...
"In three days, Scotia Mocatta transferred 1.8 million oz of silver from its registered inventories to JP Morgan’s eligible inventories. Furthermore, a total of 2.7 million oz of silver were withdrawn from the Comex (net of transfers) and Scotia Mocatta saw its registered silver inventories decline nearly 20%.

The real question is… what’s going on here. Could this be just a typical transfer of metal from one bank to another? Or could it be that an individual or party has transferred their silver from Canada to the U.S.? Those are all probable answers.

For example, we just learned of new govt. probe into Goldman and JP Morgan’s warehouse industry via ZeroHedge:

"Following our initial uncovering of the manipulation and monopolization of the metals warehousing business two years ago, the last few days have seen the public’s attention grabbed by the reality of what the banks are actually doing. Following this week’s hearing, as the Fed reconsiders banks roles in non-banking businesses (and the ‘societal benefit’), it seems the CFTC has woken up. As the WSJ reports, the Department of Justice has opened an initial probe into the metals warehousing industry and the Commodity Futures Trading Commission has also sent letters to some firms telling them to preserve documents, in what is likely the beginning stages of an investigation."

The markets are rigged to start with. Abolish legal tender law it all disappears.

Getting rid of it all allows for no more stock fraud, trades fraud and spreads that hold no value. Credit securities disappear.

It also forces the US Treasury to come clean and coin currency not through only the Federal Government, but through transparent and open trade among the several states. It actually makes it a state issue.

By decentralizing the currency, it allows all states freedom to trade/exchange with no center. Every state can then be whole unto itself, through individual banks. Without ever borrowing at interest, from a central bank. BRICS allows all states to raise their own capital.