Aside from every other form of insanity involved in our present system, there is the question of foreign entities using their own true fiat money to purchase US debt which bears interest, i.e. which we the taxpayers get to pay interest on. I assume the one or two class clowns here are happy with that arrangement...
fyi
Replacing it with the earnings of the state run banks? LOL!
there is the question of foreign entities using their own true fiat money to purchase US debt
Well, to buy US debt, you need US dollars.
which bears interest, i.e. which we the taxpayers get to pay interest on
When we keep electing Congressmen who spend too much, we should expect to pay interest on the money they borrow.
The solution to reducing (or eliminating) the interest we pay is not to eliminate the Fed or to give each state their own Fed, the solution is to elect Congressmen who will cut wasteful spending and the borrowing that requires.
Non-starter. We suffer from a spending disease. We do not need to help our elected officials find other ways to spend money. And the last thing they need is MORE money. The pork tales of Washington are full of polls who convince the common (dips4!t) voter into all kinds of spending schemes (a greater fool theory for government largesse).
I assume the one or two class clowns here are happy with that arrangement...
First thing they should have learnt you, teach, don't assUme.