The debate about the Fed is under way, and thank goodness. But as with many policy debates, there really shouldn’t be a debate at all. That’s because, if you think about it, the idea of central banking makes no sense.
We don’t have a government-created central repository that plans and manages shoe distribution. The market takes care of that. We don’t have one for cabbage, keyboards or curtains. Somehow, we get books, clothes, tree-cutting services and everything else we need and want without a central planning agency that manages the quantity available, fixes the prices of the products and bails out the firms when they overextend themselves.
Why should money and banking be any different? Money is a commodity. Banking is a business. They both originated in the market, not the state. They should have been left that way, so that the quality of the product could be subject to market discipline. In a market economy, things work themselves out. There is supply and there is demand. Entrepreneurs take notice of profit opportunities and jump in to pull the two together.
This is how the world works for us. This is how it has always worked. This is how we get our software, coffee, sheet music and beef. It’s how we get our cars, the parts that keep them running and the gas that fuels them.
The world is man-made in every respect, and the hands that made it productive, efficient, dynamic and socially beneficial operated within the market matrix. The simple relationships of learning, exchanging and competing gave rise to a glorious system that manages to sustain a global population of 7 billion people.
Read More at Whiskey and Gunpowder By Jeffrey Tucker, Whiskey and Gunpowder
Barbara J Struble says,
Debate about the Fed is underway and thank goodness – for Dr. Ronald Paul for bringing it into the spotlight over and over for years and years.
The reason for all these posts about government gone wild is because the current marxists in charge do not use rule of law under constitution.
Only way back is Dr. Paul, the only constitutional conservative candidate. If you value your liberty, respect my liberty.
Peace,
on 27 January 2012 / 5:30 PM
siteunseen says,
Dr. Ron Paul is the only one who hasn’t been bought out by the Powers that be: CFR, Bilderberger Group, Tri-Lateralists Commission, Federal Reserve Bankrpters. Has anyone got any idea of how much corruption is going on in these two Candidates who the Media Posts as the frontrunners? http://www.youtube.com/watch?v=Nq4lde9wghI This Video was not put out by Mitt Romney, but by the “John Birch Society.” Newt is a One World Government proponent, no matter how everyone paints him. Mitt Romney is a Moderate and isn’t a real conservative. Rick Santorum is easily swayed, as proves by his voting record. Ron Paul votes by the Constitution and only by the Constitution. You worried about the “Globalist Agenda”, then don’t vote for the other two, especially Mitt Romney and Newt Gingrich. See the Video, then make a decision. Sarah Palin is out in left field endorsing Newt Gingrich. I’m afraid I’ve lost admiration for her, since she’s not doing her homework at all.
on 28 January 2012 / 1:06 PM
Poppo says,
For everything you ever wanted and needed to know about the Fed, read “The Creature from Jekyll Island” by G. Edward Griffin.
I thought I knew a little about the Federal Reserve Bank (not federal, no reserves, and not a bank) before I read this book. It REALLY opened my eyes.
on 27 January 2012 / 7:58 PM
siteunseen says,
There is also an article on the web which can be googled called “Federal Reserve BUNK”. It is a short read in comparision to a book, but gives the basic understanding of why the Federal Reserve Private Bank has to go. But, you’ve got to remember…that is a huge banking conglomerate. Chase Manhatten Bank being one of the largest banks in the world, who has swallowed up many of the smaller banks during the crisis of 2008, and continues to swell…hoping for more World Control. If we were to cut their life-line, we’d see a change in our economy from Bankruptcy to Prosperity in a short time, but not immediately. It would take sacrifices but it could be done more quickly than if we allowed them to totally default and destroy our currency entirely.
on 29 January 2012 / 8:24 PM