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Politics : Mainstream Politics and Economics -- Ignore unavailable to you. Want to Upgrade?

To: Little Joe who wrote (7639)	1/27/2012 5:21:57 PM
From: grusum	Read Replies (1) \| Respond to of 85487

Then I assume that you are prepared to dismantle our banking system, take from the banks the power to create money and eliminate the fed. no, i don't want to get rid of the FED right now. lots of knowledgeable people from many of the states wanted a common currency to make trade easier. in order for us to have a common currency we needed to pass the 13th amendment. fiat currency is the most efficient and stable currency there is. look at the government's and FED's seemingly almost intentional willingness to destroy it in the name of 'beneficial' inflation. they are clueless goons. yet our money has held up surprisingly better than most of us expected. if we ran the currency honestly and honorably (and we were more free market than we are now), it would be gaining in value instead of losing value as it's doing now. prices for everything would be going down, very gradually, but down. the problem isn't with fiat currency. it's with the men who run it. they're afraid of deflation. i suppose because they associate it with the depression. but they're wrong. you can and should have a growing, expanding economy while general prices decline. sure, we could go to metal by weight, like maple leafs or krugerrands. but it's not as efficient or safe as a well managed fiat. the key is 'well managed'. if we can't figure out how manage the fiat without criminals getting their hands in it, then yes, we'd have to get rid of it. but it has benefits that metal by weight doesn't have. we just need to learn how to get knowledgeable people to honestly and honorably manage it.