Ron Paul, Author of ‘End the Fed,’ to Lead Fed Panel

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I'd also like an explanation for how currency creation and circulation is going to be managed without the Fed (and please no "return to the gold standard" nonsense), in the modern era that is about as feasible as abolishing international time standards and returning to every area setting its own time based on the sun*)

*The sad thing is I bet most libertarians would favor this as well.

Most countries on the gold standard had a central bank of sorts anyway.

I believe a lot of libertarians favor some form of free banking system, but the details after that point are sketchy to me because I usually stop reading.

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I'd also like an explanation for how currency creation and circulation is going to be managed without the Fed

The federal government managed to print currency before the fed.

The Fed doesn't literally print currency..

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I think people are kind of oversimplifying things here (which is hardly surprising and the typical way libertarians do thing.)

Look at it this way, I see a lot of this as like arguing that since the country survived 150 years without an interstate system, if the interstate were to vanish tomorrow there would be no issues. Which when you think about it is a pretty valid analogy to the whole "OMG this country didn't have this in the 18th century!" or "The Founding Fathers wanted it that way!" type arguments.

Which is funny, because the Founding Fathers ended up creating a sort of central bank.