The Case Against The Fed

[Dad2three]

If the money supply were required to be backed by something of intrinsic worth, governments would have to come up with more of the backed commodity before they could place money into circulation. This would eliminate the inflationary effect of fiat currency.

The Byzantine empire had a gold and silver currency with strict laws against coin clipping (a means of devaluing the currency by clipping off part of a coin). This economy lasted 800 years and they never once devalued their currency. A statistic the Federal Reserve is far from claiming.

Yes, better to have SAfrica or the Hunt brothers be able to manipulate the dollar *shaking head*

 

[EdwardBaiamonte]

This would eliminate the inflationary effect of fiat currency.

dear you are parroting early 20th century Austrian libertarianism.
Today the worry is more about deflation.

Do you understand??

 

[C_Clayton_Jones]

"The Case Against The Fed"

Is inane, ridiculous, and devoid of both facts and merit.

It's the stuff of loony libertarian conspiracy theories.

There is no 'case' against the Fed.

 

[EdwardBaiamonte]

"The Case Against The Fed"

Is inane, ridiculous, and devoid of both facts and merit.

It's the stuff of loony libertarian conspiracy theories.

There is no 'case' against the Fed.

so why doesn't the illiterate tell us why there is no case or admit he lacks the IQ to he here?

 

[Dad2three]

"The Case Against The Fed"

Is inane, ridiculous, and devoid of both facts and merit.

It's the stuff of loony libertarian conspiracy theories.

There is no 'case' against the Fed.

so why doesn't the illiterate tell us why there is no case or admit he lacks the IQ to he here?

LMAOROG

You NEVER found a topic you can't argue BOTH points of view on, and fail MISERABLY on both, could you Special Ed?

 

[ScienceRocks]

Name a stable country that doesn't have a federal reserve or central bank that is powerful. We need our central bank....

Only a kook would make a stupid thread like this.

 

[EdwardBaiamonte]

Name a stable country that doesn't have a federal reserve or central bank that is powerful. We need our central bank....

Only a kook would make a stupid thread like this.

not really, libertarians have long wanted a gold standard and Bernanke says he operated the Fed as if it were on a gold standard. Currency trading now amounts to $5 trillion/day because central banks make it impossible for currency traders and multinationals and to know the value of money and the products they buy. This amounts to huge inefficiencies which would be eliminated with a gold or Bitcoin standard.

A liberal will be far too stupid to understand one word of the above.