- Joined
- Sep 16, 2010
- Messages
- 2,071
- Reaction score
- 163
- Gender
- Male
- Political Leaning
- Other
It really doesn't matter how many times you come back, or how many times you reframe your idea with more and more ludicrous analogies...
It's still an awful idea, it was when I destroyed it years ago and it still is.
:shrug:
honestly I couldn't tell what he was arguing in that load of nonsense.
The basis of every post is the idea that people should directly allocate their tax money where ever they want it to go, so if they want, they can allocate their entire taxation to the DOD or Education or whatever.
It's such an awful idea... Just awful.
The federal government is in charge of the money supply.
It use to be states had their own money and could issue their own currency.
however this did not work out well and a lot of banks went under.
this paved the way for what would become the federal reserve.
it is the job of the federal reserve to manage the money supply in the economy.
the current system is much more flexible than the gold standard.
Here are two ways that we can help prevent the will of the people from being subverted...
1. Replace voting with spending
2. Allow people to choose where their taxes go
The Fed's primary goal was supposed to be to stop depressions and market crashes. But these things continued long after the Fed was set up. In fact, the worst depression in American history happened under the Fed's watch. The greatest period of economic growth in US history happened before the Fed came into being. To put it quite simply- the Fed is a terrible waste of money and resources.
The Fed's primary goal was supposed to be to stop depressions and market crashes. But these things continued long after the Fed was set up. In fact, the worst depression in American history happened under the Fed's watch. The greatest period of economic growth in US history happened before the Fed came into being. To put it quite simply- the Fed is a terrible waste of money and resources.
The Fed's primary goal was supposed to be to stop depressions and market crashes. But these things continued long after the Fed was set up. In fact, the worst depression in American history happened under the Fed's watch. The greatest period of economic growth in US history happened before the Fed came into being. To put it quite simply- the Fed is a terrible waste of money and resources.
Actually it does have specific goals in the form of its "dual mandate". Its job is no inflation and maximum employment.. The Federal Reserve is necessary but it needs specific goals.
there was only so much that the fed could do. their were pretty limited by the gold reserves we had.
which is one of the issues with the gold standard.
Actually it does have specific goals in the form of its "dual mandate". Its job is no inflation and maximum employment.
Wrong. Why do you post on economic matter when you have such horrible understanding of it?Its job is no inflation
Yes, we had a gold standard and Federal Reserve central bank. Friedman and Bernanke agree Depression was caused by Fed not following gold standard and thus allowing money supply to shrink by 33% and the number of banks to shrink by almost the same percent. Now, a gold standard and /or central bank would work fine since have now have enough valuable experience with both to know what to do.
The Federal Reserve's goals are vague.
That valuable experience is that the gold standard does not work.
how can no inflation and no unemployment be vague????
Wrong. Why do you post on economic matter when you have such horrible understanding of it?
you mean nothing worked until about 1960 at which point Milton Friedman cracked the code. Now a gold standard, fiat standard or mixed standard would work because we understand central banking now.
Because they are not specific, you cannot have no unemployment and no inflation
That gold standard has no place in the modern world, even Switzerland ditched in the early 2000s.
actually economists feel 2% inflation is ideal and unemployment of 4-5% is full employment, allowing for frictional unemployment, so they are in a very specific range.
No, when it comes to basic understanding of the FED, I don't have to prove to you that their mandate does not involve keeping inflation at "0%". As a matter of fact, I'll let you show from any source you prefer that your claim is true. Show us that the FED's mandate is to keep inflation at "zero".actually if its wrong you have to say why to establish that you know more. Isn't thinking fun?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?