[montag813]

We’ll see whether it works. I don’t like the fact that this Fed seems to do little other than react to the daily swings in the stock markets.

And the last Fed in 2004 urged Americans to take out ARMs and urged lenders to relax loan qualifications. That didn't work out too well either. Perhaps it's time to scrap it altogether.

[Just mythoughts]

And the last Fed in 2004 urged Americans to take out ARMs and urged lenders to relax loan qualifications. That didn't work out too well either. Perhaps it's time to scrap it altogether.

And these Fed back ARMers were pushing anybody and everybody to sign on their dotted line. Nobody but nobody was going to get LEFT BEHIND.

[RKBA Democrat]

“Perhaps it’s time to scrap it altogether.”

I’ve thought that way for awhile. I don’t like the fact that our money supply is controlled by an unelected, unaccountable entity that is clearly beholden to the economic interests of a few. Much as I don’t like the current crop of politicians, I would prefer that the Fed be under direct political control.

A better alternative would be to base our money supply on something tangible, but I just don’t see that happening unless it’s done privately.