Do you ever buy stuff? Are you saying you buy stuff yet you haven't noticed the prices rising? They have been steadily rising for the last 80 or so years and you've never noticed? The dollar is going to fail yet you haven't noticed anything odd?

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It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford

Some inflation is normal in any capital based political-economy. It means that risk management is being practiced and money is being lent at some market participant's, risk tolerance level; since inflation usually involves credit.

I don't know if the Federal government would do a better job, or not. That is not the point. The point is that money management is too important for a government to allow control of it to private corporations. It would be like allowing the US military to come under private control. Unwise to say the least.

The power of the FED is simply too great to be allwoed to continue in private hands. We have had 3 former chairmen of the subcommittee on banking and currency want to get rid of the FED. McFadden, Wright Patman and Henry Gonzalez. Did you ever ask yourself why? Why would three former chairmen of the subcommittee on banking and currency all want to get rid of the FED?
WHAT DID THEY LEARN WHILE CHAIRING THIS SUBCOMMITTEE?

As to the war on drugs, we all know it is unconstitutional, we all want it to end, but the war on drugs is just one piece to the puzzle. The FED is a bigger, more important piece that needs to be dealt with, or else the US will continue down the road to debt and ruin.

Dr. Carroll Quiqley made a case for the institution of a central bank (The Evolution of Civilizations: An Introduction to Historical Analysis. )

None of the arguments of the opposing viewpoint have made a similar, rational argument for the elimination of our central bank.

Save the Fed. End the Drug War; it is "not worth a continental". As a form of public policy, the drug war is indicative of what we might expect from that same body of representatives to government, that delegated monetary policy to a central bank and professional economists for a reason.

How and when did this become a debate on central banking? Damn, stoners have short attention spans.


Yeah the FED has to go, replace it with competing sound currencies. (Ex. precious metals)

If we eliminate the drug war first, we may run massive surpluses and be able to transition to some form of commodity money, especially for automated vending purposes.

dude even legalizing allllll drugs wouldn't give us a surplus. itd go a long way towards getting us there, but it still wouldn't put us in the black.


we need to add more taxes (in the form of taxing drugs) and cut spending.

lol

Yes, FED needs to go, I agree.

It depends on implementation. Simply creating a "recreational" drug category could provide enough revenue to defray current expenses.

I agree with you that we should cut spending that is not for the common Defense or general Welfare of the United States.

A central banking service is useful and convenient for any State.

I do not wish to debate this with you. IMO, it is dangerous to allow a private corporations to control a central bank. Why should the government not perform the functions of the central bank? After all, there is some accountability to the people, whereas with a central bank, there is zero accountability to the people.

got the numbers on that? do you know how many TRILLIONS of dollars we spend? Drug revenue would MAYBE, MAYBEEEEEE reach a a couple hundred billion if it was taxed all to hell and EVERYTHING was legal. and i'm not saying don't do it. i'm just saying that its not going to solve all our problems like youre suggesting.

we need to cut alot of supposed "general welfare" spending. alot of it. a shit ton. then we need to boost education ALOT.
Then maybe in a few decades we can start crawling out of the shit hole we've made of this great nation.

agreed. the fed needs to exist, just not in its current form. it should be owned by the government and set the rates for private banks etc..

Eliminating the drug war should be more of a priority than cutting social spending, from an ethical and moral perspective. We still have a McCarthy era phrase in our pledge.

Ending the drug war should provide enough economic stimulus for the rest of our economy.

The Fed is already a, mostly autonomous organ of the executive branch.

Congress has legislative oversight of the executive branch to the extent it is authorized by our Constitution; so I think that line of reasoning is somewhat specious. at best.