re: Would one of you “end the fed” Baws explain to me what would replace it?

quote:

---

Obviously you keep all of it but get rid of the people in those agencies who hate our country,

---

End the mandates.

Theyre worthless anyway. 5.5% was considered full employment for decades, now its considered a short coming.

quote:

---

Would one of you “end the fed” Baws explain to me what would replace it?

---

I’d “add” a 4th level of government that doesn’t really add anything but separate things.

Federal level - strictly deals with foreign policy

Regional level - domestic policy for its region (6-7 regions) this takes the place of the federal govt on domestic policy but brings it more local to the regional level.

State level - more robust than it is now. More in line with the constitution “any powers that are not specifically given to the federal government, nor withheld from the states, are reserved to those respective states, or to the people at large”

Local - same ole same ole


Dammit I didn’t read and didn’t realize we were talking about THE fed…

I be retarded

quote:

---

Regional level - domestic policy for its region (6-7 regions)

---

How about replacing it wit currency that has intrinsic worth?

'Money' is an instrument/tool designed to represent innate and relative value of basic life goods and services, and to expedite the saving and transferal of said value in the process of trade between productive and consumptive individuals and groups.

It's an idea which serves a purpose, such purpose being the survival and prosperity of those who participate. IF the coming High Tech can effect 'Value' - and it most certainly can and will - then the said innate Value and the whole monetary idea which represents relative Value...fades like a morning mist.

If robotics replace labor/services (it will), and if genetic and molecular engineering drastically affects Goods (it will), then the availability (think value) of goods and services become ubiquitous, and of little relative value. And Money becomes obsolete as a tool of stored relative value.

When they soon turn on those Quantum Computers, those 'machines' will take the 'thinking/discovery of Knowledge/Power' process to a degree of speed and efficiency and access to power of the which most people cannot imagine. People like E. Musk can, and many others as well.

I sometimes find it humorous to think how those who believe that gold will be the future standard of 'money' will feel when those 'damn' computers figure out how to assemble the molecules that make Gold, and Gold becomes ubiquitous. "And they will cast their gold into the streets..." (Good Book).

Humanity (at least this time period/recorded history version) truly are embarking on a heretofore unequalled adventure. And as Musk aptly points out, "it will be heaven" for the common folk. The pertinent issue at hand is how or whether we can handle the Power that surely is to come.

Sorry, W. Just being me.

Without a great banking system our economy comes to a screeching halt. Repair, not replace.

quote:

---

then said - well frick it - let’s go full Andrew Jackson and scrap the whole thing. And asked her - what happens then? She had no good answer except that the gold standard would somehow put too much power into gold people or something. That didn’t make much sense to me. And bitcoin is confusing AF.

---

People who haven’t dealt with big numbers and long term financial considerations cannot fathom that the debt is already unsustainable just due to debt service.

The current game IS going to end it’s just a question of how long we can continue to kick the can down the road and what will follow our current model.

Vivek is mostly on the right track.

Currency reset to wipe debt which will never be paid off along with the associated interest payments benefitting people that aren’t the US taxpayer.

Trump wanted to wipe all the debt when interest rates were low just by refinancing the higher interest loans and the FED wouldn’t do so.

So you restructure then create a new USD backed by a bundle of precious items such as oil, natural gas and precious metals.

Then pass a balanced budget amendment to force congress to come to terms with spending once and for all and move ahead without using inflation as a silent tax to address the debt bubble.

We had crashes without the Fed and did just fine - we came out of them. In 1907 there was another one and JP Morgan, the man not the company, gathered all the super rich together and told them to pump money into the economy to keep it going, otherwise they would all lose everything. They did and things recovered. But he was pissed about it and told the feds to do something and Woodrow Wilson (a complete jackass elitist) and the Congress gave us the Federal Reserve Act in 1913.

In the Great Depression the Fed failed miserably. It's job primarily was / is to insure money is supplied so there is no run on the banks. This happens when confidence drops. The money is not in the banks due to fractional reserve banking, but that is a pretty big part keeping banking and the economy going. The Fed failed to do its job and there was a run and we crashed.

In 2008 it similarly failed and instead of backstopping the economy it was there for Big Biz, and as a result wealth inequality went through the roof. Obama years did a lot of damage to our nation.

The Fed has never done its job.

Aside from preventing runs it's supposed to keep employment at the fullest rate possible and keep inflation in check. This is just interfering with the market.

The Fed is influenced by Big Money and political agendas. A true leftist shill and tard, Austin Goolsby, runs one of the Fed centers now. There is no doubt that everything he does is based on partisanship, not patriotism or just a fair bit of stewardship regarding monetary policy and the economy. It interferes with the market and is bad for our nation.

Ron Paul and others suggest getting rid of it and not replacing it with anything. This would force us back to gold and probably a bundle of commodities like crops, oil, etc. When asked about this, Thomas Sowell said, "What do you do when you have some skin cancer and it gets removed? You don't replace it with anything." So, he likens the Fed to a cancer in our nation.

Our monetary policy in this nation departed from the Constitution long ago and we really need to reign it in.

A big problem with the Fed is that there is no oversight. It is pseudo independent and Congress is supposed to exercise oversight but it doesn't and there are carve outs that prevent adequate transparency. One of the things the Fed is supposed to do is maintain our gold reserves but I don't believe there's ever been an actual audit to see what we have. It could literally be buried in Hillary Clinton's backyard and we wouldn't know.

My plan is to take us back to cash money, or in that direction, rather than in the direction of digital money which is just tyranny waiting to happen. We should allow digital transactions for speed but the physical money should be moved around daily so the movements digitally are caught up to physically. And we should have physical money equivalent to the net worth of the nation. This is a national security issue - a monetary paralysis would leave us vulnerable to all sorts of stuff. If our system crashed and there was no way to replace bits and bytes with dollar bills, the nation would stop for a very long time, whereas with cash we are only looking at delays of days to get your hands on money but the system would have 100% confidence meaning operations would just continue and everyone would simply adjust timelines.

If we bolstered cash availability and usage, there would not be much of a problem for bank runs. You could not get all of your money immediately, but you could get it fairly quickly. Just having a system in place would prevent bank runs. As the system of moving it around caught up, your full deposit will make it to the bank. This system is what would replace the Fed, essentially.

In my plan, I would divorce the Fed from the Treasury and just shut it down in a de facto way. All meetings about the economy, changes to Treasuries etc would fall under the Vice President (who should be focused on domestic issues rather than just being a bump on a log), and all of this would be transparent like congressional hearings on CSPAN. The Fed is operated totally behind closed doors by people that are not elected. Putting the VP in this transfers these very important functions to an electable team. The Fed also dictates lending rates and thus throttles our economy up and down at will. This is not so bad in theory if you have altruistic people and transparency, but with an entity so politically driven and moving in concert with Big Money behind closed doors, the net result is an interference in the market, not a preservation of it.

End the Fed, go to cash, no digital money, no CBDC, and let the market do what it does. Once that is complete you then construct a plan to either get us back in compliance with the Constitution and return to gold, or you amend the Constitution and add a basket of various commodities to benchmarking currency, rather than gold alone.

The Fed is a failure. Get rid of it.

quote:

---

Vivek is mostly on the right track.

Currency reset to wipe debt which will never be paid off along with the associated interest payments benefitting people that aren’t the US taxpayer.

---

This would destroy us globally. You can't just tell these other nations that they will never get paid.

quote:

---

We use fiat currency.

---

So, in comparison to the gold standard, is a "fiat currency" standard:

1. Inflationary
2. Deflationary
3. Arbitrary