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

To: Little Joe who wrote (7658)	1/28/2012 12:14:40 AM
From: grusum	Read Replies (1) \| Respond to of 85487

but it clearly interferes with a free market to have government create and control money. how? Remember money is 1/2 of every transaction, except for barter transaction. fiat currency is a medium of exchange, so of course it's involved in many transactions. if it's run poorly it will lose value, as it's doing now. if it's run well it will hold or gain value. This is a huge interference with a free market. how? a fiat currency is in a constant state of negotiation. why shouldn't the government just print money and leave the rest to the free market. because it would have no value and no one would use it. Instead we let the fed control the amount of money and interest rates. interest rates should be set by the market, not by authority. We had a national currency before the fed. and before 1913. they tried to tie gold to the value of the dollar. it can't be done. there were other currencies by regional banks and other entities. many people thought it was cumbersome for non local transactions. they knew it would be easier to do transactions with a single fiat currency. i don't know how dollars really get created. i've told you this also. and i don't believe the 'money as debt' videos either. very few really understand how the FED works. Seems to me the only thing the fed has done is interfere with the free market. the financial system isn't a market. Thomas Jefferson it's highly unlikely jefferson ever said that.