Alternative to Federal Reserve- what is it?

Discussion in 'Economy' started by SpidermanTuba, May 14, 2010.

  1. SpidermanTuba
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    Alternative to Federal Reserve- what is it? Seriously, some of the teabaggers wanna just get rid of the Fed. What do we replace it with?
     
  2. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    Gold

    We should pay for everything with gold. only way to make the wingnuts happy. This papermoney stuff is just a fad
     
  3. SpidermanTuba
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    LOL! Gold is kind of heavy. Where do I store it? Under the house?
     
  4. Toro
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    Toro Diamond Member

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    The dollar would be backed by gold and the market would set short-term interest rates. I don't necessarily agree with this, but that's the argument.

    The Fed has been enormously irresponsible in the management of monetary policy. People are right to be angry.

    We may be seeing the end of fiat currencies as we know it.
     
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  5. SpidermanTuba
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    I don't really get it. If every dollar in existence has to be backed by gold, then banks wouldn't be able to loan money from deposits.
     
  6. mal
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    mal Diamond Member

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    Sheridan or Pecos... Lowell is WAY to slow.

    Anything else?

    :)

    peace...
     
  7. Oddball
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    We should be as lucky.
     
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  8. SpidermanTuba
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    Is it just fiat currency the teabaggers want to end - or fiat money altogether?
     
  9. Oddball
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    Oddball BANNED Supporting Member

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    They're the same thing.
     
  10. SpidermanTuba
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    ROTFLMAO!

    Sorry Dude. All currency is money, but not all money is currency.
     

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