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View Poll Results: End the Fed?
Yes 9 75.00%
No 3 25.00%
Uncertain 0 0%
Voters: 12. You may not vote on this poll

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#1
Old 11-08-2008, 03:27 PM
BmoreBrawler
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Default Should the Federal Reserve be Disbanded...

...and the Dollar return to some sort of commodity backing(like gold or silver or a basket of goods)?
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#2
Old 11-08-2008, 03:28 PM
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yes..................
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#3
Old 11-08-2008, 03:32 PM
BmoreBrawler
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Quote:
Originally Posted by ALPHA O`MEGA View Post
yes..................
there's a poll now. Hate how boxing scene posts before the poll is up...
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#4
Old 11-08-2008, 08:53 PM
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You have 4 years to get Ron Paul on top in a Republican Primary, shouldn't you be doing a something a bit better with your time?
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#5
Old 11-08-2008, 08:55 PM
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Originally Posted by SkillspayBills View Post
You have 4 years to get Ron Paul on top in a Republican Primary, shouldn't you be doing a something a bit better with your time?
Just law school...
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#6
Old 11-08-2008, 09:22 PM
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Quote:
Originally Posted by SkillspayBills View Post
You have 4 years to get Ron Paul on top in a Republican Primary, shouldn't you be doing a something a bit better with your time?
In 4 years, Ron Paul will be 77 years old.
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#7
Old 11-08-2008, 10:06 PM
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Money needs no inherent value to be a measure of exchange. The fed didn't create the mess. Your suggestion would cripple the economy for good. A severe drop in the money supply would create another depression for sure.
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#8
Old 11-08-2008, 10:25 PM
BmoreBrawler
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Quote:
Originally Posted by KingDosia View Post
Money needs no inherent value to be a measure of exchange.

agreed, but what about as a store of value?

The fed didn't create the mess.

have to strongly disagree here.

http://mises.org/story/2936



Your suggestion would cripple the economy for good. A severe drop in the money supply would create another depression for sure.

If you did it all at once, absolutely. It needs to be phased in with delicacy and over a long period of time.
yeah yeah.
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#9
Old 11-08-2008, 10:40 PM
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Quote:
Originally Posted by BmoreBrawler View Post
yeah yeah.
Being an accepted measure of exchante money is automatically a store of wealth. All it has to be is, accepted as a measure of exchange.

I think the biggest mistake the Fed made was underestimating how far the price level could drop. How could they guess that? There isn't a framework or formula that could have predicted it. I think the problem was spearheaded by fiscal policy. Though I agree with a few moves that were made, they were made at the wrong time perhaps. Then the Fed may have dropped the ball in dismissing, or over looking the possible price level drop when making their policy suggestions. And of course the war and events leading to the war certainly took it's toll. The housing bubble was bound to burst sooner or later, so I'm wondering why Freddy and Fernie did the business they did.
My point is the problem was/is a collective effort. The beauty of our economy is that it will return to an equilibrium. Expansionary policy now to create a soft landing and Americans will get things back on track just because we have a certain standard as far as our quality of living.
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#10
Old 11-08-2008, 10:57 PM
BmoreBrawler
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Default

Quote:
Originally Posted by KingDosia View Post
Being an accepted measure of exchante money is automatically a store of wealth. All it has to be is, accepted as a measure of exchange.

I think the biggest mistake the Fed made was underestimating how far the price level could drop. How could they guess that? There isn't a framework or formula that could have predicted it. I think the problem was spearheaded by fiscal policy. Though I agree with a few moves that were made, they were made at the wrong time perhaps. Then the Fed may have dropped the ball in dismissing, or over looking the possible price level drop when making their policy suggestions. And of course the war and events leading to the war certainly took it's toll. The housing bubble was bound to burst sooner or later, so I'm wondering why Freddy and Fernie did the business they did.
My point is the problem was/is a collective effort. The beauty of our economy is that it will return to an equilibrium. Expansionary policy now to create a soft landing and Americans will get things back on track just because we have a certain standard as far as our quality of living.
How can money be a safe store of wealth when it is constantly being debased by the Fed?

If there is no framework to predict the drop in prices AKA crash, then how did so many do it?

Who Predicted This?

* The Financial Apocalyptics are Back, Robert Blumen, July 25, 2007
* Sowing the Seeds of the Next Crisis, Thorsten Polleit, April 25, 2006
* Credit Crisis: Precursor of Great Inflation, by Thorsten Polleit, February 7, 2008
* Mr. Bailout, by Anton Mueller, September 30, 2004
* America's Unsustainable Boom, by Stefan Karlsson, November 8, 2004
* Who Predicted the Bubble? Who Predicted the Crash? By Mark Thornton, July 14, 2003

Of course, they did not do it with modeling or econometrics, just sound capital theory and common sense. We would not have had this problem had the fed not cut interest rates to 1% and held them for so long. End the Fed.

Last edited by BmoreBrawler; 11-08-2008 at 11:12 PM.
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