Absolutely agree! I’ve been learning more and more as to why our early founding fathers DID NOT want a “Central Banking” cartel involved in the “coinage” of our currency. Unfortunately everything they feared has come to light as the creation of a “Central Bank” (i.e. the privately held Federal Reserve) has made the US a debtor slave nation - allowing for the growth of Government to become unstoppable!!! Pray America is Waking Up!!
The difference between the BUS, which was pretty good at providing a reliable circulating medium and in generating economic growth, and the Fed, is that the BUS was not a monopoly when it came to printing money. ANY bank could get a charter and print money prior to 1863, and it worked very, very well. We had three panics from 1793-1861. Only one in any way was caused by "the economy" or "capitalism," the Panic of 1819. But the Panic of 1837 was simply a drying up of Mexican silver used by all the banks as a reserve; and the Panic of 1857 was caused (as I proved in a 1991 article with Charles Calomiris) by the Dred Scott decision crashing railroad bonds. So I think looking back the Founders in fact had it right: a central bank that had to compete with every other bank was not a threat to anyone.