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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: unclewest who wrote (241577)	3/12/2008 7:01:31 AM
From: carranza2	Respond to of 794283

Andrew Jackson sagely refused to renew the charter of our previous national bank. Getting rid of the Fed in this day and age would be very difficult. A currency based on gold and silver would probably do more to give us financial stability..They are acting as de facto currencies as it is.

To: unclewest who wrote (241577)	3/12/2008 7:11:46 AM
From: LindyBill	Read Replies (1) \| Respond to of 794283

I believe that banking institutions are more dangerous to our liberties than standing armies. The main reason for the financial panics during the 19th Century was the following of Jefferson's advice my Jackson. Without a central banking system we were constantly going up and down. When we finally went to a Federal Reserve system, it took them about 40 years to learn how to run it. This latest panic is because of a situation that was not forseen. It shouldn't happen again, now that the Fed sees the problem. We have to learn the hard way, unfortunately. The messes we do get into is because the Fed gets too involved in trying to make the Pols happy, who always want easy money and say, "who, me?" when the inevitable inflation comes afterward. Unfortunately, Bush has treated this war the same way LBJ treated Vietnam, without restraining spending. I hope we don't end up paying as big a price.