While the Fed is meant to be independent from the executive branch on a day-to-day basis, it is certainly not independent of Congress or the law. Yet the Fed in recent years has shown a troubling tendency to deviate from its legal mandate and make up new authorities to fit the changing economic situation. Case in point: the dubious notion that we should seek a 2 percent rate of inflation.
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It’s simple. Like Doctor Ron Paul said: “End the Fed”!
Return to the “barbaric” old gold standard of “honest” money.
Let the invisible hand of the free market set the interest rate.
If interest rate is the “time preference for money”, then how could it EVER be naturally zero.
The FED —
The Federal Reserve Bank is a misnomer. IT ain’t “federal”. It reserves nothing. And, it ain’t a “bank”. It is a private cartel of the elite banks run for their benefit and that of the entrenched politicians.
— has destroyed the USA with debt and trained “We, The Sheeple” not to save for a rainy day.
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