IB4Z--Kudos your way.
What a stunningly ignorant article.
Yeah, the Fed has done so much worse than those countries in which the Treasury owns the bank that prints the currency.
Earth to author of this inane piece--modern economies use fiat currency. Gold hasn't cut it for a hundred years or so. Something has to issue that currency. Unless you want to go back to free banking, which you have in some respects given that people can now hold their wealth in whatever national currency they think will hold its value and freely trade bank IOUs, a set of privately owned banks running currency issue (the Fed) is a better solution than having the politicians run it. Or have influence as they did in the Carter and Ford years when the entire economics profession misunderstood inflation.
Maybe people should do a little reading before they write. And then spend several hours appreciating Milton Friedman's intellectual contributions.
We are to not criticize minor deities such as Hamilton. It is interesting that slavery is about the only issue that has been resolved in the USA since the 1787 Constitution was adopted without the signature of Gov Clinton of New York.
A strong central bank was seen as important to commerce. The politicians who opposed it were more concerned about liberty. It looks we have sacrificed some liberty for prosperity. That may not be such a bad thing.
A strong central bank was seen as important to commerce. The politicians who opposed it were more concerned about liberty. It looks we have sacrificed some liberty for prosperity. That may not be such a bad thing.
Just buy it back. The Federal Reserve Act reserves the right to buy it back at any time for 400 million dollars.