
Originally Posted by
Bullseyed
I don't oppose the Fed, and I think the Fed does a decent job. The nature of fiat money is unfortunate, but seems to be the best system for the job. Trading gold in dollars seems to work about as well as trading dollars in gold. The US has more control this way. It's just unfortunate is all.
That is the problem. The government has control and can destroy the value of our currency by merely printing more of it. I hardly see how an inflationary central bank is the best system for the job. What we need is a free market in media of exchange(currency, just wanted to use that term as a reminder of money's true purpose). I believe this will most likely result in gold and silver based systems, but I could be wrong.
"And I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale." - Thomas Jefferson to John Taylor, May 28, 1816
I expect to engage in reasonable discussion. This does not include insulting people or building strawman arguments.
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