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How did that work out in 2008/2009? Not that good...
So the Federal Reserve system did not exist in 2008/2009? What Federalist is saying should be is not what is or what has been. What are you talking about?
Federalist said government should just enforce contracts, and that's how the financial sector should be regulated. Your comment "how did that work for you" is irrelevant, because the system Federalist was advocating for was not the system in place in 2008/2009.My questions have related to not trusting the Treasury nor the Fed to oversee the monetary policy and that the Fed facilitates payments within our banking system. I'm not sure what your point might be...
What? How are you listing a difference by saying the create the same money under the same rules?The difference is that they now create the same "money" under the same rules...
Actually, laws in the past did require banks to honor the notes of other banks. Not sure what your point is though.I would suggest researching the causes of recessions/depressions that occurred before the Fed was created. Banks used to create their own currency (I have some as a collector's item), and honoring that currency was not guaranteed by other banks. Do you have any concern now that this might happen?
How did that work out in 2008/2009? Not that good...
Banks and government already are separate. The Federal Reserve is private, and it was a horrible mistake to privatize it.
The opposite needs to happen. We should have a central bank under the purview of the People, via our elected officials. No more clandestine money handling by financial elites who are working against this country's economy.
I tentatively agree with a central bank that lends based on the goal of encouraging small businesses and income growth at the lower brackets. I don't know about giving such a bank power to affect money supply. We really don't want the likes of Ron Paul deciding monetary policy.
The Fed at least has a buffer between the likes of Paul and its policies. If Congress wants to politicize monetary decisions, it would have to change the Federal Reserve Act, which to my mind was one of the most enlightened and successful pieces of legislation this country ever passed.
All western nations, except the U.S., have central banks. They are effective so long as globalists don't start transferring public money to private coffers; but seeing as how that is happening in the U.S. anyway, I don't think a central bank increases the risk.
Banks and government already are separate.
The Federal Reserve System IS our central bank, its primary purpose is to maintain the US financial system via monetary policy.All western nations, except the U.S., have central banks.
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