As far as “auditing the Fed” goes, do you really want the current crop of Congressional Clowns” auditing the Fed?
Do you really want these a-holes to have even more intrusive power into the “central bank” then they have now?
Do you really want Barney the Homosaur & Dodd to decide what our currency is worth?
I don't see how a modern economy could function without a “central bank”, something independent of the vagaries of day-to-day politics. The Fed as I see it now suffers from too much political manipulation not too little!
I can't see how a decentralized system would function, a return to state banks each issuing a currency. Heck even private banks did that in those days. For example and Idaho state dollar might not be the same as a Vermont state dollar. How would these difference be reconciled? It seems to me it would make a mess of interstate commerce.
I don’t know why this was addressed to me but I’ll take a whack at it.
I read Rand Paul caused quite a stir because he said some things about defending the country. I don’t know if he thinks 9/11 was an inside job and as far as I know Ron Paul never said it was an inside job but I could be wrong.
I think we should end the fed like you pointed out there is too much manipulation I don’t see the fed acting as an independent agency at all.
If we had no fed barney the banking queen or dirty dodd wouldn’t be able to manipulate it.
How do you think a decentralized system worked before congress gave away the power to the fed? We have not always had the fed you know not until 1913.
Here is how it would work.
If, however, we portray the Fed as it actually is (a government run cartel) then the solution to its evil becomes clear — end its protective connection to the government, which would eliminate its monopoly status and its power to dangerously expand the money supply. Simply abolish the Reserve Banks and make the member banks independent institutions again. They would then have to live with the rules that the market would demand. And the market would demand open disclosure of the extent of their fractional reserve loans. Most important of all, the market would demand redemption of all bank issued paper notes with gold coins or bullion upon customer request. Both of these market demands would temper excess paper issuance on the part of banks and keep them responsible.
In other words, repeal the government’s legal tender laws, establish a free-market for banking, and let the marketplace decide what should be used for money. The banks would then have to offer quality gold money that the people desired, rather than corruptible paper money that a government cartel mandates. This would decentralize the financial power of our economy out among the thousands of individual banks throughout the country and strip the Federal Government of its dangerous control over our wealth and productivity.
http://www.thedailybell.com/681/Nelson-Hultberg-The-Fed-is-a-Fascist-Cartel.html
Anything else about Rand or Ron Paul I am sure you can google it and find out the answers.
p.s.
One more thing Conservatives never used to be on board for nation building and Ron Paul is by far more Conservative in spending then any other Republican.
Then maybe you are too steeped in the economics taught in America's colleges and universities. You need to go back and read about the central banks of the 19th century.
By federal law, we have to use Federal Reserve Notes. How about giving freedom a chance?
I don't want any top-down command and control monetary system. I want FREEDOM to make contracts in whatever currency I choose, be that FRNs, gold, or 9mm ammunition.