Challenge: Kill and Replace the Fed

[Free Bird]

The Fed is a vile parasite that should die. How would you replace it?

[Blue3]

Nationalize the entire financial industry.












But really, why do you think it's so vile?

[Free Bird]

Nationalize the entire financial industry.












But really, why do you think it's so vile?

I have no idea why the federal government has to borrow its own money. It also devalues the dollar like nothing else by just printing it out of nothing. Seems like a giant ponzi scheme. Why isn't dollar printing handled by the treasury?

[bedstuy]

Challenge:  In your own words, tell me what the Federal Reserve actually is.

[Blue3]

I have no idea why the federal government has to borrow its own money. It also devalues the dollar like nothing else by just printing it out of nothing. Seems like a giant ponzi scheme. Why isn't dollar printing handled by the treasury?

It creates the dollar.

All money, all currency, is about how people can believe/trust/have confidence that they can trade something of value for units of currency, and find other people who will do the same for them.

I think you need to read up on how exactly businesses, and economic in general, works. Have you ever taken a microeconomics or macroeconomics course? If not, I'd recommend it.

[Sprouts Farmers Market ✘]

I have no idea why the federal government has to borrow its own money. It also devalues the dollar like nothing else by just printing it out of nothing. Seems like a giant ponzi scheme. Why isn't dollar printing handled by the treasury?

When you don't know how something works, Ron Paul is not the person to go to for an appropriate explanation. If it wasn't for the Fed, we would still be in a Depression.

And for about the 800th time since I've started posting here, the dollar has been appreciating by a substantial amount. Why does every right winger falsely claim the opposite (as if it's even a bad thing! That can be a very good thing too depending on the circumstances.)

[Negusa Nagast 🚀]

Please pick up and thoroughly read a couple of macroeconomics textbooks before you post in this board again.

[/]

You replace it with an even stronger, socialistic national banking system.

[Murica!]

Democratize finance. That is both through workers' democracy and consumer democracy(Credit Unions.)

[ag]

The Fed is a vile parasite that should die. How would you replace it?

With something like a Fed.

[True Federalist (진정한 연방 주의자)]

The Fed is a vile parasite that should die. How would you replace it?

With something like a Fed.

Agreed.  There really is no effective substitute in a modern economy for having a central bank of some sort.  One can argue whether the byzantine structure of twelve regional Federal Reserve Banks that in theory have autonomy (and at one point did have some autonomy) is the best way of organizing it, but not the need for a central bank.

[Atlas Has Shrugged]

Challenge:  In your own words, tell me what the Federal Reserve actually is.

It's a vile parasite, duh .

[🦀🎂🦀🎂]

Magic rocks of course (Austrian)

[Maxwell]

Proof that Free Bird is the real butt monkey of them all.

[OSR stands with Israel]

The Fed is a vile parasite that should die. How would you replace it?

I would keep it

[King]

lol

[Mordecai]

I have no idea why the federal government has to borrow its own money. It also devalues the dollar like nothing else by just printing it out of nothing. Seems like a giant ponzi scheme. Why isn't dollar printing handled by the treasury?

>implying that the Treasury printing the dollar wouldn't "devalue" it

I'd rather not have elected politicians in control of interest rates and the money supply.

[Citizen Hats]

The Third Bank of the United States? It wouldn't do anything the Fed doesn't do, but it's would be structured in such a way as to avoid some of the more annoying conspiracy-fuel

[ag]

The Third Bank of the United States? It wouldn't do anything the Fed doesn't do, but it's would be structured in such a way as to avoid some of the more annoying conspiracy-fuel

The first and second BoUS were really successful at "avoiding conspiracy fuel"

[Maxwell]

I would kill the fed.


But then I would re-surrect the Fed as is. See? It's replaced with a new one! Problem solved!

[True Federalist (진정한 연방 주의자)]

I would kill the fed.


But then I would re-surrect the Fed as is. See? It's replaced with a new one! Problem solved!

Just don't let it be three days between killing it and resurrecting it. We don't need conspiracy theorists claiming the new Fed is the Antichrist.

[Taco Truck 🚚]

It also devalues the dollar like nothing else...

Is that a bad thing?!

[Negusa Nagast 🚀]

When you get rid of cancer, what do you replace it with?

When you cut a vital organ out of your body, you die quite horrifically.

[Simfan34]

Replace the Fed with something that does the same thing, but with a long and clunky name that's difficult to form into a short, chant-able political slogan.