Seems to be a popular idea – from Bloomberg:
A majority of Americans are dissatisfied with the nation’s independent central bank, saying the U.S. Federal Reserve should either be brought under tighter political control or abolished outright, a poll shows…
…Americans across the political spectrum say the Fed shouldn’t retain its current structure of independence. Asked if the central bank should be more accountable to Congress, left independent or abolished entirely, 39 percent said it should be held more accountable and 16 percent that it should be abolished. Only 37 percent favor the status quo…
Republicans and Independents are more likely than Democrats to favor abolishing the Fed – naturally, as Republicans and Independents are developing a hearty mistrust of government, while Democrats still tend to look upon government as lord and master of us all. But the big news here is that a majority, overall, favor at least some stern action to bring the Federal Reserve under control.
I am one of those in favor of abolishing – and, just to really bury the idea, I’m also in favor of a return to the gold standard for our currency. We daren’t have a bank which can manipulate the value of our money. What has happened since the Federal Reserve was created is a gigantic erosion of the value of our money – depending on how you look at it, the dollar of 1913 (the year the Fed was created) has lost 90 to 99% of its value. If your grandpa had put a dollar aside in 1910 thinking that it’d be great to give you in 2010, he’d find a dime…or maybe a penny…there to give you today. Our wealth has essentially been stolen by the central bank – and given to the various banks around the United States and the world which routinely screw the pooch in their “investments”.
Get rid of the Fed, get back to coining money and only issuing set amounts of paper currency backed by gold and silver in the US Treasury. This will allow us to really have an economy based upon hard work, savings and careful investment…people take care of real money, after all…fake money printed up at will by the Federal Reserve? Its treated like Monopoly money by the banksters and bureaucrats, and thus our collapsed economy and $13 trillion in debt.
Oh, and by the way – you know how its said that everyone has a purpose in life? Well, we’ve all kinda wondered what Ron Paul’s purpose is – turns out, he’s authored a book called End the Fed…and he’s going to be in charge of House oversight of the Federal Reserve. The stars have aligned and the man and the hour have met…
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