End the Federal Reserve

[phys431]

I like these two statements.....


cameron913 said:

I think the volume of spelling mistakes speaks for itself in terms of the deep thought and consideration put into this proposal. Of more grave concern is the eagerness to dismantle a central system by someone who clearly does not have a basic understanding of macroeconomic systems. The FED doesn't just exist for no reason, and an actual proposal to dismantle it is far more consequential than seems to have been addressed here. Billy you seem to have the right idea. We really need to address the fact that systems beyond our immediate understanding have broken and that regulatory and administrative changes need to be carefully taken to remedy them. Yelling "End the FED" only propagates the idea that we don't particularly understand the delicacy of the system we are criticizing.

and:

NickGhizas said:

2. The repeal of provisions of the Banking Act of 1933 (also known as the "Glass-Steagall Act") by the Gramm–Leach–Bliley Act in 1999 effectively removed the separation that previously existed between investment banks which issued securities and commercial banks which accepted deposits.

The Federal Reserve isn't the (sole) problem of our crappy economy.  On top of that, the streets are NOT the battleground for taking on the financial industry.  Ending the Federal Reserve isn't nearly the answer as it is to re-write our monetary policy along with a host of several other things that we should do. 

Cameron913 really hit it on the head that we (as protesters, resistors) need to know who (or what) we are up against.  I think that the financial industry is only one of the "enemies".  Congress/government is a pseudo-enemy at best because there are signs of attempts to help the 99%, but they are also beheld to pro-business interests.  So they are not always helpful.  The other remaining "enemy" is us, the American public.  Or to be more precise, it's the difference of ideas and ideals between all 300 million of us.  The make-up of Congress probably exagerates the contrast of the people they represent, but I don't think it's too far fetched that people in Seattle, New York, LA, or nowhere's-ville Nebraska are not going to need the same solutions as someone here in suburban-Chicago.  What they want/need might be different.

In order to combat the problems, I think that we first need to become familiar with the techncial aspects of economy, policy, politics, regulation, business, both on practical as well as on theoretical levels and how they all convolute with each other.  The people who are the major players are not fools, they understand what is going on.  The battleground against these players is not on the streets, it's in the legislation houses, the courts, and in policy and practice.

[blacklite911]

"End the Fed" is one of those slogans propagated by libertarians and conspiracy theorists. I to feel the the issues with the federal reserve are the result of other problems rather than the causes.

First, we need a real government that serves the people, then we can have a financial sector that is actually apart of the government and its people. Then we can began to issue legitimate currency that can stand strong. 

[jreyesgut]

Im actually bringing a proposal to the GA today dealing with the Fed but have to deal with cutting the Full Employment and Balanced Growth Act, and The Federal Reserve Reform Act of 1977. I feel through some independent research, using government websites and Purdue Calumet professors that these are two of the largest issues plaguing the Federal Reserve and the U.S. economy. That and Keynesian economics. Whos ever heard of spending less an and reforming the tax code when you can just throw money at the problem until it miraculously disappears...