Why do we need all these centralized institutions?
Absorb any physical currency functions into the treasury dept, require banks to store their own reserve currencies, and states can regulate the policies of the banks that operate within their borders.
The rate of unemployment shouldn't be a concern of the federal government.
If the executive had more control you'd have a situation similar to Arthur Burns or Jpow with Trump. Congress would be even worse considering they are split.
Or just leave it autonomous like it is and slap Jpow so he'll be more heavy handed.
You guys have only had a Federal Reserve since 1913.
Before that you had individual banks exposing themselves and collapsing - since then, the Fed has worked to broaden the risk so that when one goes, everybody goes.
I'm not sure that's a better system, personally.
It appears to be the antithesis of making the component parts of your financial system small enough that the failure of any individual one can be tolerated. Since 1913, the US seems to have been diligently working towards a system where the taxpayer - being the only entity in this entire diagram that's allowed to be landed with the bill - is regularly shafted as ever-more parts of the system become "too big to fail"
Humanity has gone eight thousand years without that 'power', and we made it here just fine. I'm not sure the last 100 was anything particularly special that we'd want to replicate.
Doesn't account for when you have to adjust rates to handle different economic cycles.
Who has to adjust which rates?
If we're talking interest rates, that would be something each bank would have to assess for themselves, taking into account that bank's circumstances. Not sure what other rates you'd be talking about...
Dunno. Was playing devil's advocate because I mentioned abolishing the fed to a friend and I don't think I made a good argument, so I wanted to see what this forum would say in response to some of the things he said.
Unfortunately, the Fed probably won't be abolished anyway since no one in Congress views this as an issue.
Reason number 8,452 to vote him out. Punishing ppl for success and rewarding ppl for failures is a disastrous way to go about things. Any reasonably sane person should see that.
I remember when Clinton, the rapist not the side of beef, said it was racist for banks to deny housing loans to blacks just because they couldn't pay them back.
Now House Democrats want to codify racial equity as part of the Fed’s mandate. Their bill would require the Board of Governors and FOMC to “exercise all duties and functions in a manner that fosters the elimination of disparities across racial and ethnic groups with respect to employment, income, wealth, and access to affordable credit.
Black powder weapons of a certain vintage and copies thereof are not considered firearms by the ATF. Anything under a certain bore, I believe 40mm, is also not a part of the NFA.
SocJus has become the squid ink of politicians. Something hopelessly corrupt or damaging to the nation? Queer it up and put trannies center stage, or "put a nigger behind the trigger" so anyone criticizing the diseased/corrupt bit of the state can be tarred as a "bigot."
so its time you abolish the federal reserve you are saying
What would you replace it with?
Statement: Abolish x institution
Why
State rights or something along those lines
Okay, what's the alternative?
Why do we need all these centralized institutions?
Absorb any physical currency functions into the treasury dept, require banks to store their own reserve currencies, and states can regulate the policies of the banks that operate within their borders.
The rate of unemployment shouldn't be a concern of the federal government.
Point to note: banks even used to mint their own notes.
If the executive had more control you'd have a situation similar to Arthur Burns or Jpow with Trump. Congress would be even worse considering they are split.
Or just leave it autonomous like it is and slap Jpow so he'll be more heavy handed.
You guys have only had a Federal Reserve since 1913.
Before that you had individual banks exposing themselves and collapsing - since then, the Fed has worked to broaden the risk so that when one goes, everybody goes.
I'm not sure that's a better system, personally.
It appears to be the antithesis of making the component parts of your financial system small enough that the failure of any individual one can be tolerated. Since 1913, the US seems to have been diligently working towards a system where the taxpayer - being the only entity in this entire diagram that's allowed to be landed with the bill - is regularly shafted as ever-more parts of the system become "too big to fail"
Okay so we go to back to a system of private banks. Doesn't account for when you have to adjust rates to handle different economic cycles.
Humanity has gone eight thousand years without that 'power', and we made it here just fine. I'm not sure the last 100 was anything particularly special that we'd want to replicate.
Who has to adjust which rates?
If we're talking interest rates, that would be something each bank would have to assess for themselves, taking into account that bank's circumstances. Not sure what other rates you'd be talking about...
Dunno. Was playing devil's advocate because I mentioned abolishing the fed to a friend and I don't think I made a good argument, so I wanted to see what this forum would say in response to some of the things he said.
Unfortunately, the Fed probably won't be abolished anyway since no one in Congress views this as an issue.
the real argument is 10th amendment because congress was not grated the power to delegate its authority to mint and value currency to a 3rd party
Reason number 8,452 to vote him out. Punishing ppl for success and rewarding ppl for failures is a disastrous way to go about things. Any reasonably sane person should see that.
Yeah, uh, about that...
I remember when Clinton, the rapist not the side of beef, said it was racist for banks to deny housing loans to blacks just because they couldn't pay them back.
That worked out great.
So it's communism.
Is it legal to build your own artillery cannon?
If you're planning on dropping 155mm shells on something federal, I don't think they're really going to care where you got the howitzer.
Black powder weapons of a certain vintage and copies thereof are not considered firearms by the ATF. Anything under a certain bore, I believe 40mm, is also not a part of the NFA.
So yes.
God bless America.
Just when we thought the fed couldnt get any worse.
why aren't the democrats trying to end the legacies of the wilson administration?
SocJus has become the squid ink of politicians. Something hopelessly corrupt or damaging to the nation? Queer it up and put trannies center stage, or "put a nigger behind the trigger" so anyone criticizing the diseased/corrupt bit of the state can be tarred as a "bigot."