Does, "End The Fed," Really Mean End The Dollar?Submitted by zooamerica on Wed, 06/18/2014 - 21:04
If the Federal Reserve prints and issues America's currency, can the Dollar exist without the Federal Reserve?
If the Federal Reserve ended tomorrow, what would replace the Dollar?
Are they not one in the same?
The Federal Reserve is a business, and their number 1 selling product is the US Dollar. It is the only product they make.
Any currency is ultimately a product. People work for currency, and then spend it on other products and services...or currencies.
If the US Dollar was tied to a strict, limited amount of physical gold, there would also be a strict, limited amount of products and services available to the public.
I admire and respect Ron Paul, but I do not agree with him anymore on ending the Federal Reserve.
The people that created The Fed weren't exactly the nicest people in the world.... but I do think that as very smart and shrewd businessmen, they saw something coming that nobody else did.
I think Ben Franklin is more than likely the true inspiration behind the Federal Reserve.
Before, "Just Do It," was, "Just Print It."
Printable/Digital money has made 6,000 years of past business models and economic theories obsolete.
The old gold donkey and silver plow approach no longer applies.
When was the last time you purchased a product from a store with gold or silver coins?
The idea of what, "money," really is has totally changed.
Many if not most people prefer plastic over cash in today's society.
The US Dollar is the first currency in world history that was originally backed by a limited amount of physical gold and silver, and is now backed by an unlimited demand for goods and services with an unlimited supply of non-physical, digital money.
Human productivity and consumption on an economic growth chart over all of time literally goes to infinity, correct?
For as long as people exist and procreate, the demand for goods and services will always rise without end. As the planet's population grows, so does the need for more, "money."
If ALL money on earth was tied to a fixed amount of gold with every living human being trying to get their hands on such a limited product, I honestly don't think any of us would be here right now.
People need money to live. There is absolutely no possible way to sustain and supply the entire world with money that is backed by a limited physical resource such as gold.
"Money," doesn't really matter. People do.
Why am I playing the Dollar's advocate?
Because I fear Ron Paul's gold backed solution has led many smart people to think that we need to go in reverse to move ahead.
Tying the money supply to gold in the 21st Century seems like a giant step backwards in my most humble, honest, objective, freedom loving American business owner opinion.
When you go to buy your cup of coffee tomorrow morning before work with cash or credit, ask yourself a serious question.
Out of over 6 billion people on earth, how many are so lucky to be able to drive a car, pull into a drive through window and order a cup of coffee and a hashbrown for $2 bucks?