Should the Federal Reserve be Disbanded...

[FatNJerseykid]

Yes, America is printing out too much money. They are devalueing the dollar which makes the purchasing power weaker. Ordinary people are suffering because they cannot buy as much as before. The fed reserve is a cause of inflation.

[squealpiggy]

A return to the gold standard? The republicans lost the election, now they've lost the plot completely.

[BmoreBrawler]

A return to the gold standard? The republicans lost the election, now they've lost the plot completely.

I'm sorry, is it not "progressive" enough for you? Any anyway, if you think that Republicans are talking about a return to the gold standard you must not follow much news.

[Easy-E]

I think that disbanding the Reserve would only create more problems to our already troubled economy.
Investing in domestic causes will help the economy return to form, not disbanding the orginization that can stabilize the economy.

I do agree with the notion that our banking system is flawed, and our country is run on fake money and lines of credit that are in a sense, imaginary.

If you have alternatives to the reserve I would like to hear what they are...

[BmoreBrawler]

I think that disbanding the Reserve would only create more problems to our already troubled economy.
Investing in domestic causes will help the economy return to form, not disbanding the orginization that can stabilize the economy.

I do agree with the notion that our banking system is flawed, and our country is run on fake money and lines of credit that are in a sense, imaginary.

If you have alternatives to the reserve I would like to hear what they are...

Probably the easiest thing to do would be to put the paper US Dollar on a legislated 2-3% growth through the treasury without a Fed, but at the same remove legal tender laws so that the people can use Gold or Silver if they wish.

[Prostitroop]

BRING BACK THE GOLD STANDARD GOD DAMMIT!

[Ta Khent]

...and the Dollar return to some sort of commodity backing(like gold or silver or a basket of goods)?

Not only the Federal Reserve, but the International Monetary Fund and the World Bank. It'll never happen though. Where else would the US get the cash to imperialize other countries? Let's face it, money is the biggest weapon of mass destruction there is. No war can be fought without money and the private owners of these institutions make massive amounts of money because of it.

[Salty]

The fed reserve doesn't even post an inflation target, it's one of the least transparent and most ambiguous treasury in developed nations. This is not a good thing for the most powerful economy in the world. The fed reserve created this crisis by keeping the cash rate so low while the economy was booming. Mortgage lenders would not have had to lend the quantity they did if the cash rates were increased. They need to change something as right now it is not working.

[Easy-E]

Probably the easiest thing to do would be to put the paper US Dollar on a legislated 2-3% growth through the treasury without a Fed, but at the same remove legal tender laws so that the people can use Gold or Silver if they wish.

Is this Libertarian thinking from you?
That would complicate an already complicated situation.
Can you gurantee the growth by using the treasury without Federal influence?
We have seen how the free market without regulation cannot be relied on in through the recent economic crisis.
This propsal would send disaray through financial markets.

[BmoreBrawler]

Is this Libertarian thinking from you?

Absolutely

That would complicate an already complicated situation.

Can you gurantee the growth by using the treasury without Federal influence?

Milton Friedman seemed to think so.

We have seen how the free market without regulation cannot be relied on in through the recent economic crisis.

The crisis was caused by the Fed in 2001 lowering interest rates to 1%. It is mainstream opinion these days. Even Jeffrey Sachs is on board.

This propsal would send disaray through financial markets.

Compared to the disarray we have had since 1913?

I understand your caution, but I have done considerable study of the issue and I really can't justify the Fed's existence even if I try.

Rather than addressing the problem by patching holes with more regulation and more bailouts, why not just drag this ship onto dry land?