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Big Government is a failure. |
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Posted on 11/28/2008 11:26:22 PM PST by rabscuttle385
Should we abolish the Fed? The Federal Reserve Bank, or "The Fed" as it is commonly known, is the central bank of the United States. It was created by Congress in 1913 as the direct result of the Panic of 1907 (recessions or depressions were previously called panics, and they tended to be short lived and self-correcting).
(Excerpt) Read more at washingtontimes.com ...
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Big Government is a failure. |
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CATO Institute ping!
Monetary history makes clear that central planning and fiat currency are both doomed to fail. Abolish the Fed? Absolutely.
It’s Simple; Fed = PROBLEM!
And Alan Greenspan will go down in history as a reckless tyrant, a modern-day John Law.
Ron Paul on ending the Fed:
http://uk.youtube.com/watch?v=3qsJjTaekA8
http://uk.youtube.com/watch?v=BWYRaiq4aTs&feature=related
http://uk.youtube.com/watch?v=i0wlekeM5lw&feature=related
http://uk.youtube.com/watch?v=OJm_70FYiMo&feature=related
And while we are at it FIRE all the agencys and get rid of all the stupid laws since 1960. That would be ALL of em.
Just an observation. All of these companies, banks, credit organizations and car companies on the borderline of failure...have Harvard, Yale, Princeton and Colombia business school graduates running them. Check the guys out online.
Then go to the Fed. The vast number of important guys in the Fed....come from Harvard, Yale, Princeton, and Colombia business schools. Check those guys out online.
I think there is a problem....and we ought to go to the source. Whatever these four schools have taught their students over the past fifty years...hasn’t worked. Why is that?
Thats the question that should be answered by congress, the senate, and the President.
The better question is what these four schools have not taught their students and how did the lack of such knowledge contribute to the Panic of 2008.
A little bit of honesty and humility can go a long way.
The payment system in New York (i.e., the clearing houses) broke down and started to affect the real economy.
If we were to get rid of the “Fed”, who would take over the “Money Supply”, Congress???
AS bad as the “Fed” may be...I have severe problems with ANY FEDERAL POLITICIAN having to take over the Duties of the “FED”.
Pep you hit the problem for the US Economy, ie the buffoons that are ill-educated from Harvard, Yale, Princeton and Colombia business schools...they have managed to damage the actual productive part of our economy due to ignorance, lack of common sense and greed.
Also imbedded deep within the hallowed halls of the ‘elite’ academia is the soul of the beast...International Communism. Example #1 is Paul Krugman.
2 problems:
Fed is the first problem
Currency not backed by precious metals is the other
Yeah, Congress.
You know, "the power to coin money, and regulate the value thereof" - THAT Congress.
Just to be clear, Princeton doesn’t have a business school but I know you’re referring to Bernanke being a Princeton Economist. But please have at those lousy Harvard, Yale and Columbia MBA programs!
I feel like Bill Murray on GHOSTBUSTERS.
"Is this like, a trick question or something?"
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