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Joe meant= If their is no central bank, what is the other option? Our economy is based off of money we should need an official system to control our wealth. You may say its flawed thinking (and i probably agree with you) but I am new to this and am trying to learn more but almost all i hear is "End the fed, its unconstitutional" without any info on what would be a proper system without the fed. So if the fed was abolished what sort of financial system would take its place?
iscream22, The historical evidence points to central banking systems always ripping off the people they are supposedly created to protect. There are two competing schools of economic theory at odds here. Austrian vs. Keynesian. I'm no expert but Keynesian is based on debt and currency based on faith. It needs an ability to create the illusion of wealth out of thin air to keep up the charade. Austrian is based on production with a currency based on a commodity Read Ron Paul's book "End The Fed"
So the fed continuously prints out money thinking it will help the economy, but many people say thats not the solution. What would be the solution to fix the problem, all i hear is end the fed, end the fed but i want more info besides that (and yes, i have ron pauls book on order) but id like an answer so i can be "filled in" more.
Think about this... the Fed creates money out of nothing. Nothing at all, but air! Get "The Creature from Jekyll Island, by G. Edward Griffin and read the chapter summaries at the very least. That will fill you in big time and I can guarantee you will not be happy to know what is going on. Thanks for the comment. :-)
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Resist to the very death!!!
You may say its flawed thinking (and i probably agree with you) but I am new to this and am trying to learn more but almost all i hear is "End the fed, its unconstitutional" without any info on what would be a proper system without the fed. So if the fed was abolished what sort of financial system would take its place?
Thanks
Thanks ahead of time.