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| Nationalize the fed? |
| Yes |
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0% |
[ 0 ] |
| No |
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80% |
[ 4 ] |
| Not sure |
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20% |
[ 1 ] |
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| Total Votes : 5 |
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 Posted: Wed Feb 10, 2010 9:17 am
Hey guys, I got a quick question for you. I was listening to some crap on tv about how we can't audit the Federal Reserve, for some reason or another, and that got me thinking. Why not? If I remember the constitution correctly, the power to coin and print money is given exclusivly to Congress, not to some quasi-private bank. I also seem to remember that printing money was prohibited to the States, and therefore, logically, to private enterprises like the Fed claims to be.
It seems to me that, under the Constitution, the Federal Reserve not only CAN be nationalized, but MUST be, because the Fed is unconstitutional any other way. But of course, I'm a Libertarian, and the thought of Nationalizing anything leaves a VERY bad taste in my mouth. I'm finding myself torn between being for the Constitution, and being for free enterprise, (not that the Fed is in any way, shape or form free enterprise, but thats kinda beside the point.)
I really can't decide, so I'm asking for advice. What do you guys think?
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Posted: Wed Feb 10, 2010 9:32 am
The Fed needs to be audited but I don't like the thought of nationalizing it, even though it's been a drain on us since it's inception.
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Posted: Fri Feb 26, 2010 7:16 pm
We dont need to nationalize it, we need to end it
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Posted: Sun Feb 28, 2010 12:30 pm
Hmmmm.... I think you guys may be right. Nationalizing the Fed would only transfer all the corruption and power system into the Government, and our government doesn't need any more corrupt, all powerful agencies. Better to simply end the Fed, and have Congress take control of the Mint as part of the Treasury department. In fact, I think you may have been referring to the Mint, which actually creates the money, rather than the Fed, which distributes it. Actually, I'm not entirely sure how that works, the Fed may have more control over the Mint than I think, but you get the basic idea. Destroy the Fed, and Nationalize the Mint, which actually prints the money.
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Posted: Mon Mar 01, 2010 6:52 pm
The Fed which was established around 1913 was created by a group of the worlds top banking experts to avoid financial panics that seemed to happen quite often back then. It is neither privately owned or a true part of the national government. It is an seperate entity within the federal government. It has several functions but the most important aspect of its organization and rules is that it is accountable by law directly to the American people. Which is why it issues periodic reports during the year. There is an act that I can't remember the name of at the moment that requires the Fed to tell the American people what it is doing and why by reporting to Congress. Not to say that we get the whole truth, or perhaps any part of it but if the game is played by the rules the federal government only responsiblity with the Fed is oversight and not control. As we all know it really doesn't work that way but there is hope of some accountablilty and scrutiny with the current situation. To truly nationalize it takes away any voice in decision making process and control of it workings that the states may have and reduces any chance of credible accountablity the public in the future.
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Posted: Tue Aug 10, 2010 4:08 pm
James628 We dont need to nationalize it, we need to end it This^ The inflation that has been hurting everyone in the country is a result of the fed's printing of money. To be honest, I am for the privatization of monetary creation. I believe that everything would be better if it was restrained by the market.
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