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

To: grusum who wrote (7657)	1/27/2012 11:45:15 PM
From: Little Joe	Read Replies (1) \| Respond to of 85487

"they let reserve banks run it to supposedly stop any federal influence. a fiat currency doesn't interfere with any free market." Of course it does. It may be that it is better to have a single national fiat currency, but it clearly interferes with a free market to have government create and control money. Remember money is 1/2 of every transaction, except for barter transaction. This is a huge interference with a free market. If a free market is the problem is what you want, why shouldn't the government just print money and leave the rest to the free market. Instead we let the fed control the amount of money and interest rates. We had a national currency before the fed. and before 1913. Seems to me the only thing the fed has done is interfere with the free market. "i'm not saying our currency is being run correctly. i've told you over and over that i don't think it is. i just don't think it should be scrapped. instead, we should get people that would manage it correctly. " I doubt that will ever happen. Too much power and too much temptation is always a bad mix. edit “I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.” ~ Thomas Jefferson ~ lj