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Would still exist*
NickF1227 2 months ago
@NickF1227
Money is a legal construct of a sovereign people. These people have given the money-creation power to the government. The government has given it to the private bankers who have ruined this country, and we want it back.
Simple as that.
For the Money System Common.
joebhed 2 months ago
So your theory is that congress can spend any amount of money it wants and it will not inflate the currency if the currency issued by the treasury rather than the fed? That is absurd. The only difference is that we would not be paying interest to the private banking cartel, all the other problems with a centralized monopolistic control of money
NickF1227 2 months ago
@NickF1227
No, of course not.
Your comment is a little off base.
Congress can spend the amount of money that will not cause inflation or deflation.
Is that absurd?
But, yes, certainly a government monopoly in money-creation.
What, pray-tell, is wrong with that?
Thanks.
joebhed 2 months ago
No debt created is key. Even though government spending would inflate the currency and hence tax everyone a flat rate, money as interest would not be constantly siphoned off to banks until they rule us again.
DCUPtoejuice 4 months ago
End the federal reserve. The University of TEXAS
Faztlan 1 year ago
The power to CREATE should be the opposite of the power to inflate.
What is the money power?
To whom does it properly belong?
When the Colonies issued their own currencies(money-supply) they did not inflate or deflate the currency.
The same is true with the Continental Congress - the issuance was according to the mandate. Only counterfeiting inflated the currency.
When Congress authorized Greenback $USNs, the exact number were printed and exchanged.
Private issuance = inflation/deflation.
EconomicStability 2 years ago
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Please help support HR1207, Fed will only provide relevant information to our representatives if an Audit REQUIRES it. Our representatives have the right and responsibility to audit the Fed!
The Federal Reserve supports its own expansion, resists checks and balances of Fed. (those in majority don't question it because Fed appeases with unlimited expansion of credit by risking/loaning US dollars).
Jackson put on his grave he beat central bank, the Fed was always controversial, AUDIT THE FED
AProbableAnomaly 2 years ago
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Please help support Federal Reserve Transparency Act! This is important, who stands for the people and our liberty? Who defends against special interest who appease Washington for handouts, for government chosen bureaucracy, against corruption?! The Fed is arguing for more secretive regulatory powers, anything in name of 'systemic risk'! Please people America needs you! Do what you can! Our representatives have the right and responsibility to audit the Fed!
AProbableAnomaly 2 years ago
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Basically the federal reserve socializes losses and privatizes profits for banking members. Banks risk money, when times are good they profit. When economy goes sour, no risk, and tax payers are on the hook, direct or hidden taxes like inflation etc. Bankers have access to unlimited supply of liquidity (elastic money supply), and we're all on the hook, while the banking cartel ensures profits for the banking elite. The fed can/does makes irresponsible gambles, but passes on losses, banks profit
AProbableAnomaly 2 years ago
If you put government in charge of their own money government would only abuse that. Namely thru the ultimate stealth tax of inflation.
This is how governments finance wars and other projects instead of being honest thru their taxes.
There should be no ability to inflate, so that governments and banks cant secretly grow and seize power.
End fractional reserve, and keep banks small and constraint. Banks are to grease the wheels of economies and shouldnt be major leaders!!
NicosMind 2 years ago
@NicosMind they do that regardless and add an interest to that to pay the banks for nothing!
DCUPtoejuice 4 months ago