One Hundred Reasons to Shut Down The Fed

[longknife]

In December 1913 the Act establishing the Fed was pushed through Congress with many members of Congress absent for the holidays. 100 years later, most Americans have no idea what this body is and the huge impact it has on our economy. The article at the link gives some great information and conclusive reasons we need to do away with it. Read more @ On The 100th Anniversary Of The Federal Reserve Here Are 100 Reasons To Shut It Down Forever

This hits the nail on the head:

#1 We like to think that we have a government "of the people, by the people, for the people", but the truth is that an unelected, unaccountable group of central planners has far more power over our economy than anyone else in our society does.

Thanks to Blogger Gunny for the links.

 

[rightwinger]

The Fed is going nowhere

It has been an economic cornerstone for 100 years

 

[bripat9643]

The Fed is going nowhere

It has been an economic cornerstone for 100 years

Yes, and under the Federal Reserve we had the Great Depression, the Great Recession and about two dozen other recessions.

Great Record.

 

[bendog]

We never had recessions before the fed.

 

[rightwinger]

Only a bunch of libertarian nutcases would consider ending the fed. Glenn Beck has done well

Any economist worth his salt laughs at the idea

 

[TakeAStepBack]

Only a bunch of libertarian nutcases would consider ending the fed. Glenn Beck has done well

Any economist worth his salt laughs at the idea

Here is me laughing at you being economically inept, and therefore, not fit to comment beyond a bar room full of drunks.

 

[SwimExpert]

We never had recessions before the fed.

False.

 

[Warrior102]

The Fed is going nowhere

It has been an economic cornerstone for 100 years

What a dunce U.S. National Debt Clock : Real Time

 

[ShawnChris13]

Andrew Jackson made it his priority to take the printing of money out of the hands of bankers. Once he wrested control from them and placed printing money back into the hands of government, the US had no debt. Creating currency that is based on debt at its inception is the reason the dollar is worth less every year. The Federal Reserve isn't Federal, or Reserved. They aren't printing money to circulate currency, they're printing money to turn a profit.

 

[bendog]

We never had recessions before the fed.

False.

Sarcasm.

And, eliminating the Fed is the first step towards .... having China call in our debt (-:

 

[TakeAStepBack]

It really doesn't matter. The federal reserve will eliminate itself in the same fashion the first and second central banks of the US eliminated themselves.

 

[SwimExpert]

It really doesn't matter. The federal reserve will eliminate itself in the same fashion the first and second central banks of the US eliminated themselves.

For someone who presents himself as some kind of economics expert, that's an amazingly stupid thing to say. The First and Second banks of the United States were "eliminated" as their charters expired after the passing of a statutorily established time period. The Fed has no such statutory time limit.

 

[g5000]

In December 1913 the Act establishing the Fed was pushed through Congress with many members of Congress absent for the holidays.

And yet they did not repeal it when they came back!

You have to be pretty stupid to believe the Federal Reserve Act was written and passed over a Christmas vacation.

 

[g5000]

From the Federal Reserve Act of 1913:

As soon as practicable, the Secretary of the Treasury, the Secretary of Agriculture and the Comptroller of the Currency, acting as "The Reserve Bank Organization Committee," shall designate not less than eight nor more than twelve cities to be known as Federal reserve cities, and shall divide the continental United States, excluding Alaska, into districts, each district to contain only one of such Federal reserve cities.

Who is actually gullible enough to believe the Federal Reserve was created in the dead of night during Christmas?

 

[g5000]

On The 100th Anniversary Of The Federal Reserve Here Are 100 Reasons To Shut It Down Forever

#9 In 1963, President John F. Kennedy issued Executive Order 11110 which authorized the U.S. Treasury to issue "United States notes" which were created by the U.S. government directly and not by the Federal Reserve. He was assassinated shortly thereafter.

 

[g5000]

#17 Today, the U.S. tax code is about 13 miles long.

That has nothing to do with the Federal Reserve!

It has a lot to do with Congressmen being able to put carve outs in the tax code for their campaign donors.

 

[g5000]

#26 Since the Federal Reserve was created, there have been 18 distinct recessions or depressions: 1918, 1920, 1923, 1926, 1929, 1937, 1945, 1949, 1953, 1958, 1960, 1969, 1973, 1980, 1981, 1990, 2001, 2008.

Prior to the Federal Reserve, economic downturns were far more frequent, and far deeper.

Funny they did not mention that, huh?

 

[Toro]

http://www.usmessageboard.com/economy/68521-why-we-have-the-fed-and-other-central-banks.html

 

[bripat9643]

#26 Since the Federal Reserve was created, there have been 18 distinct recessions or depressions: 1918, 1920, 1923, 1926, 1929, 1937, 1945, 1949, 1953, 1958, 1960, 1969, 1973, 1980, 1981, 1990, 2001, 2008.

Prior to the Federal Reserve, economic downturns were far more frequent, and far deeper.

Funny they did not mention that, huh?

They were more severe than the great depression?

It appears from looking at the list that the frequency was about the same.

 

[rightwinger]

Look...We can post as many threads on this as you want

The Fed is not going to shut down. It would cause economic chaos

No respected economist would support the idea. Only those who get their economic advise from a gynecologist from Texas would support it