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What's your problem with the Fed? And what would you replace it with?

The Fed was created as an imperfect solution to the financial crises of the early 20th century. The idea was that bankers understood the money supply and could do a better job than politicians, since politician had a long history of screwing up the money supply, and better that the creation and destruction of money should be in the hands of bankers than politicians. LOL: Y!A's suggested category for this question was "Pregnancy & Parenting > Newborn & Baby" Of course there have since been numerous attempts to interfere with the Fed, but the consensus is that it's the best solution we've got. It has been argued that the Fed could be replaced by a computer --- that the amount of money to be created or destroyed can be calculated from measures of economic activity, and there should be no human interference at all. In a modern society, the money supply must be regulated somehow. Even the gold standard is a regulation of a sort. So, what do you propose instead? Yes, I understand that you don't like the Fed. What system of monetary control do you propose instead?

Asked By: cosmo - 9/27/2011
Best Answer - Chosen by Asker
Every American dollar in existence, whether it is physical currency or currency existing on technology­, was created with debt. If the national debt was zero, there would not be a single dollar in circulatio­n. This is because every dollar we have is printed by a private corporatio­n (The Federal Reserve). The... More
Answered By: Beltway 8 - 9/27/2011
Additional Answers (8)
Competition.
Answered By: sound_of_the_silenced3 - 9/27/2011
 
The Fed is run by a corrupt group of s*******s who's actually had a central bank in the US 3 times, including this one, which they conned the people to put in place their 3rd charter... More
Source(s):
Answered By: evlma - 9/27/2011
 
If it's inevitable that FED will stay then I propose we bring back the Gold Standard to stop inflation... More
Answered By: Zachery G - 9/27/2011
 
You don't see the problem with printing all the money you want out of thin air and loaning it to the Federal Government at interest?
Answered By: The Mad Baron - 9/27/2011
 
The fed was given control in 1913, by 1933 America was bankrupt... More
Answered By: Tringle - 9/27/2011
 
"When our Federal Government, that has the exclusive power to create money, creates that money and then goes into the open market and borrows it and pays interest for the use of its own money, it occurs to me that that is going too far. I have never yet had anyone who could, through the use of logic and reason, justify... More
Answered By: tguk143 - 9/27/2011
 
It's a branch of the Rothschild's central banks . It was never meant to print money .. That was in the fine print . Replace ? The gold standard and regulations that put back capital in capitalism . Not just paper with 5 % .. If necessary then break up the banking cartels the same as we did with other monopolies .
Answered By: magick - 9/27/2011
 
George Soros works with and for the Great and abominable Whore of the Earth if there ever was one ... the Rothschild Cartel, which owns and runs the Fed and the Central banks of almost every country in the world... More
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Answered By: tblbaby - 9/27/2011
 
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