[Errant]

Yes it is. Don't renew its charter.

[Deagle]

Many problems with the Fed. I do just have to ask is it better to do away with them or just take away their power and then disband them. They have caused many problems and to do away with them at this stage would only cause more.

They are a problem, but after decades, they have to be disbanded slowly.

[hosepipe]

The fed is not federal or ever was... still isn’t...

[narses]

Replacing them with what, bitcoins? Bank notes issued by banks? Barter?

[narses]

BTW Dr. Paul is bugaloo nuts, you know that, right?

[dragnet2]

Every year it’s the same...They talk about ending the fed, talk about securing our borders...Talk about reckless government spending followed by endless punitive taxes.

Year in, year out...Same thing over and over..and over and over...

Is it not clear those in government have no intention of doing what is right and have no intention of doing things which benefit the American people?

[uncommonsense]

Who can argue against the benefits of continuous creation of global market bubbles and crashes...?

Look for the next investment opportunity after our Fed decides to "taper" the current twist ($85 billion/mth inflation).

[DannyTN]

Ridiculous. The dollar has been far more stable than it was under the gold standard.

Under the gold standard we had long severe deflationary depressions every 20 years. Since the fed, we’ve only had one depression, maybe two if you count the Great Recession. We’ve had over 80 years of depression free economic growth. That’s not a failure. That’s a success.

People who want to manipulate the currency, or get rich off of gold want to see the FED disbanded. In my opinion, the FED is the only one in washington doing what they are supposed to do.

By law they are supposed to focus on unemployment, keeping the dollar stable and interest rates low. They are having to print because Congress and the President put stupid trade policies in place that have off-shored our industries and caused high unemployment. That’s the right action for the Fed, but it’s like putting a band-aid on a cancer patient until Congress wises up about trade policy.

[Blood of Tyrants]

For the 135 years before the Federal Reserve, inflation was NEGATIVE 40% for the entire time. Since 1913 inflation has gone up 2300%.

[PGR88]

some day Conservatives will realize - the FED is the source of all of what ails the United States. The nationalization of interest rates, the ability to monetize debt, and the ability to print money out of thin air is exactly what keeps the Progressive nanny state alive.

If you end the FED, you kill “progressive” government - and you in turn begin the fix of 1000 social and economic problems with it.

[Jack Hydrazine]

Everyone has seen the 100-year US Dollar destruction chart; so here is the 200-year... a century without The Fed and a century with... which would you prefer?

Via Ralph Dillon of Global Financial Data,

Newton’s 3rd law states: To every action there is always an equal and opposite reaction. Sounds pretty simple right?

Except in Government, where for every action, the reaction seems to produce catastrophic consequences for such action. Yet inexplicably, the answer these days to everything seems to be more Government intervention and meddling. You would think that at this point we would have learned from our prior mistakes. Yet the meddling goes on and on and on….because it works so well.

Have you ever considered the true cost of all of this intervention? Think about it. Since the creation of the Federal Reserve in 1913, we have been in perpetual warfare, we introduced the New Deal which birthed Government programs, we eliminated the gold standard, we flooded the market with massive credit expansion, we accumulated massive amounts of debt and have now seen the Government take over 20% of our economy through healthcare. As if all of the prior interventions were not enough, in just the last 5 years, we have had shovel ready, bank bailouts, trillion dollar stimulus, QE 1,2,3,4, operation twist, unemployment benefits extended, car bailouts and crony capitalism that threw good money after bad. What we have gotten is more of the same. More debt, more political posturing and the complete destruction of the dollar and the purchasing power of it. With it, no one is accountable. Not the Government, not the banks, not the private companies but the citizens whose burden it has become to fund all of this intervention.

With the backdrop of other Governement ventures like the USPS and Social Security Administration, what can possibly go wrong with our latest intervention Obamacare? Whether you are for or against it, you have to recognize that this is and will be the mother of all Government interventions. With a horrific rollout, low enthusiasm and a general public that is either unaware or just ignorant to what is truly coming down the pipe, we can only hope that this time it will be different. But consider, that for every word that defines Obamacare, there are 30 more words that enforce it. With 109 new regulations and counting, you have to wonder if this monstrosity of intervention will finally be the straw that breaks the proverbial camel’s back. It surely has the making for it because we have never seen anything like it.

Cost since 1913? Well, the dollar has lost nearly 90% of its value and the purchasing power of that dollar has been eroded considerably.

Below is a chart that demonstrates the destructive quality of Government intervention to 1819:



Link.

[The Mayor]

End it before it and congress end us.

[Toddsterpatriot]

It’s not up for renewal.

[plainshame]

The fed is a group of private bankers which have nothing to do with the federal government.That’s why they post signs on their private property when there’s a riot in their area.

[central_va]

Why can’t I borrow money directly from the Fed at 0% like banks get to do? What’s the point of the middle man charging 4% on a 30 year note? That is a lot of money to process paper work.