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

We just got back on the golf standard like that could happen lol


Or like fist money hasn't been great for us

I ask end the Feds baws what is replacement on wallsyreetsilver reddit


They have no clue what a diaster it would be

Be honest Did you have to close one eye to type that?

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The question posed is WHATS THE SOMETHING ELSE?

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Bartering and then eventually a system backed by gold. Holding people accountable for 1. The US Constitution is a pretty good road map. The entirety of the federal govt need to be scrapped and rebuilt. Every aspect of it.

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

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Yes, we can.

Here’s what you are looking for:

Mises Case Against the Fed

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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.

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I'm not sure the computers are going to figure out how to make atoms like that and the process required to do so will probably be insanely expensive.

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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.

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There will be no heaven at the end of this rainbow of transformation - it will be subjugation.

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Last night I was at my moderate neighbor’s house. And she was all above the fray, per usual gettin all “both sides”

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These people are truly the worst.

Just for some clarity, the Fed doesn't really do anything regarding our debt. When we have a deficit, our Treasury sells bonds and other items so that money is given to the Treasury to fund operations. In return the Treasury agrees to pay a certain amount back at a later date. Also, funds are input to the Treasury based on future revenue that comes in, like Social Security, because for a long time more revenue came in via Social Security, than was going out - that surplus condition was and is used to justify inputs to the Treasury based on future revenue via Social Security taxes.

The Fed does not buy Treasuries in order to prop up or finance our debt. Also it does not buy them from the Treasury. It only buys them from private entities. The Fed is supposed to prevent bank runs, keep employment high, and keep inflation low, as well as serve as the lender of last resort. It also has some payment intake functions like collecting Social Security taxes and it has some regulatory functions on banks. The Fed doesn't affect our debt financing but it affects the money supply and thus our economy.

What the Fed does when it buys Treasuries is put money into the economy. If a bank buys Treasuries (or any private entity), the Fed can buy them. Generally the Fed buys them from banks and the Fed now owns that treasury as one of its assets and the bank gets money, which is generally put into their reserves - and this is where fractional reserve banking comes into play. Banks are only required to keep a certain percent of your deposits on hand. They take the other part and loan it to other people - this is a great stimulus to the economy, allows the bank to earn some money and allows you to earn money on your deposits.

The way the Fed can cause a lot of problems though is to put money into the economy through fractional reserve banking and its purchases of treasuries. It's common to only require banks to hold 10% of your deposits. The rest can get loaned out. Here is how the inflation hammer is born: the amount of money (in theory) that actually goes into the economy is far greater than the amount spent by the Fed due to fractional reserve practices. The lower the reserve rate (amount banks must keep on hand) the more money is "created". You take 1/reserve rate and multiply that by the initial deposit amount, and that is the amount, in theory, that actually ends up in the economy.

If the Fed purchased $100B in treasuries from banks you would get $1T in the economy, if the reserve rate was 10%.

When you look at the extreme power of the Fed to manipulate the money supply through purchases, being lender of last resort (like in 2008), dictating interest rates and so forth, and the lack of transparency, it's a dangerous entity.

The Fed used to have a little under $1T in assets iirc. It now has close to $8T in assets as it pumped enormous amounts of money into the economy during the last recession and then during covid. So those bonds and other items it bought became its assets - these are items that we have to pay back to the Fed via the Treasury at a later date. My understanding is that - If we were to get rid of the Fed or just transform it to an entity to prevent bank runs, we could likely invalidate the assets the Fed has and take $8T or so off of our future liabilities that we must transfer from Treasury to the Fed as those assets mature.