Posted on 05/17/2024 8:56:17 AM PDT by Twotone
Both should be read. The one on the Fed tells how bad banking rules have caused disaster again & again. And how good banking rules ought to be implemented across the country & planet.
I wish those regulating banks would read that book!
If the central bank is abolished, the treasury system would try to carry on the same function.
Bankers would have no problem ‘swimming’ in either arrangement, but would prefer to keep the Federal Reserve System as it is.
Which is understandable because they know the current system, and have only read of heard about a financial system without a central bank.
Now you've put your finger on it. Every economy bigger than a breadbox has to have a central bank to manage its' money supply, but in so many cases (not just ours) the men who pull the levers are fallible, and get it wrong, or become victims of politics, which always gets it wrong.
Macroeconomics is mind-bendingly difficult. It's virtually impossible to learn by running controlled experiments, and in any case the number and influence of variables is near infinity. That's why I gave it up in college and became an engineer instead. Not that I ever stopped reading. I didn't discover the Austrians until I was in my 40s. My professors all worshiped Keynes.
Take any note out of your bill fold and take close look at what it says: federal reserve note. There is nothing behind that bill. No gold, no silver, nothing but air.
Take any note out of your bill fold and take close look at what it says: federal reserve note. There is nothing behind that bill. No gold, no silver, nothing but air.
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I still use them and store them outside the banking system, regardless. Rarely is a transaction denied.(Usually a small merchant who doesn’t have enough change)
Gold & silver can be purchased with dollars......air is still free as far as I know.
The main point is that NOTHING will be done about The Fed by ANY republicans, period. Massie is just pretending to do something.
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