[Chad C. Mulligan]

Massie is an economic idiot and a demagogue, and y'all are falling for it.

Eliminate the Fed and you will have a financial apocalypse that makes 1929 look like a picnic. Our enemies in Russia and China will be positively gleeful at the catastrophe.

There WAS A LEGITIMATE REASON that it was created in the first place. Every economy bigger than a breadbox needs a central bank to regulate its' currency. We didn't have one up to 1913. Panics played merry hell with the nation's banks until J.P.Morgan stepped in, as he did in 1907. In 1913 Morgan was at death's door, and there was no-one else who could do it.

[rdcbn1]

As with all things in our government the Fed is mixed bag of positives and negatives.

But something like it is necessary for our economic system.

The problem we face is fiscal insanity of our Congress which the Fed is getting the blame for.

[Right_Wing_Madman]

Eliminate the Fed and you will have a financial apocalypse that makes 1929 look like a picnic.

So why didn't the Fed prevent the biggest crash of them all? The one in 1929? Milton Friedman wrote a whole book on this topic and concluded the Fed's prescription actually made the Great Depression worse.

The Federal Reserve was actually abolished in 1937-1952 and the US Treasury regulated the nation's currency. The problem with this arrangement is that it made the executive branch too powerful (FDR loved it!).

This is the issue with eliminating the Fed: monetary policy would have to transfer to either the President or Congress. Congress would control BOTH fiscal and monetary policy or the President has money printing capabilities. Both solutions are unsatisfactory.

[Rlsau1]

The idea of Central Banks always sounds good, but it’s always perverted to favor the rich and well connected. A better system is stringent banking laws, responsible oversite, and dire consequences for the individuals who violate them. Every banking crisis grows from lax regulation, poor oversight, and responsible individuals escaping the consequences of their actions. Central Banks just aid in the malfeasance.

[Jonny7797]

I dont like him either. He’s voted against conservates more than a few times.

[JonPreston]

and y'all are falling for it.

Wat's up with your use of y'all? Here you are calling Massie an idiot while sounding so very stupid.

[Chauncey Gardiner]

You make me smile Chad

[AppyPappy]

I think the opposition is more of a virtue signal.

[ifinnegan]

He definitely needs prayer.

[cowboyusa]

A Dollar was worth a Dollar in 1913. 103 years of the feds evil work has led to the Dollar being worth 4 Cents.