Every other is issue seems to be a symptom of this metastasized disease, hence the debate about what type of band-aids to use on the numerous festering tumors is moot without addressing the Fed’s function. Because money is completely eliminated from the equation, barter naturally replaces money as the method of exchange in times of monetary crisis. The US election is still more than a week away, but speculation about who might lead the Treasury Department under a Biden administration is already in full swing. Many new local currencies are replicated after barter systems, as money is only seen as a medium of exchange, not an instrument of debt or a store of wealth. Activist Post - ALTERNATIVE INDEPENDENT NEWS - Creative Commons 2019, 48% Of U.S. Small Businesses Fear That They May Be Forced To “Shut Down Permanently” Soon. Crisis has historically led to reactionary legislation in America. It lured the nation into the lobster trap of debt — debt undergirded by Federal Reserve fiat money and congressional deficits — and the country cannot see a way to get out on a pain-free basis. The concept of interest-free money in the U.S. started in Colonial times. We issue it in proper proportion to make the products pass easily from the producers to the consumers. And if it is, Ron Paul has a good chance of victory. 0. Anyone who has even a remedial education about the Fed knows that nearly all of America’s economic woes can be directly tied to the fraudulent monetary system run by this private monopoly. Q - Can you see Federal Reserve bond 1934 series US 500000000. The fed is a bad system, but what could replace it? Markets should pay attention. But it’s going to time to get to at Resource Based Economy and we should work on putting the steps in place to get out of the profit-driven death cult that is Capitalism, where we pay dues to meet our demise! So if a Centralized Private & Corporate Bank like the Federal Reserve isn’t going to work because of its war crimes, laundering cash for fascists and ensuring the working class stays indentured and impoverished, what is a better solution to the problem? Public Banking Can Replace The Federal Reserve! According to today’s Wall Street Journal, our Fed has the authority (right now) to initiate an e-dollar (a digital currency) to replace all paper notes and metal monies. Some participants noted that, if needed, the Federal Reserve could consider various steps to manage the levels of short-term interest rates and the quantity of reserves, such as adjusting administered rates, expanding the overnight reverse repurchase agreement program, or implementing a maturity extension program. The Federal Reserve impact the money supply by the monetary policy in which they use Expantionary monetary policy and contractionary monetary policy . Now they have been brought in line with the cartel at the barrel of a gun, and next comes the wonderful IMF we-own-your-ass loans. delegated this power to the banks. To increase the money supply, what could the Federal Reserve do? The last major experiment in … Usury, the charging of interest, is strictly prohibited by the Koran, therefore these nations had very conservative banking structures. Local Tender:   Local currencies are already perfectly legal in the United States “as long as it does not look like dollars, as long as denominations are at least $1.00 value, and if it is regarded as taxable income.”  In other words, they are essentially tied to U.S. dollars and must be taxed the same. Also inherent is the Fed spending money (making loans) without Congressional approval or oversight. Seven are Governors appointed by the President, one of which is the Chairman. Every other is issue seems to be a symptom of this metastasized disease, hence the debate about what type of band-aids to use on the numerous festering tumors is moot without addressing the Fed’s function. So are all … 5. Regardless of whether the Federal Reserve does it, or some other agencies, the functions provided by a public central bank are fairly vital to a robust economy. I … NO. If HR1098 were ever to pass, a commodity-based economy would likely become very popular as it will operate outside of the Federal Reserve’s debt-based, taxable money system. Popularly known as the Federal Reserve or simply the Fed, the Federal Reserve System was created in the belief that centralized, regulated control of the nation’s monetary system would help alleviate or prevent financial crises like … Joe Weisenthal recently pointed out that Ron Paul may actually have a great shot this time around: At the time (Paul’s 2008 bid), nobody in the GOP really cared about the Fed, and for the most part, Bush’s wars enjoyed broad support. There are several bills that have been proposed in Congress directed at the Federal Reserve. Favorite Answer. Creepiest Tech Guide of 2020 — Activity Trackers, Wireless Headphones, Smart Speakers, OMG! Many local food cooperatives are starting to implement this type of quasi-underground economy based on credits, sometimes tied to currency for easy valuation. Gold and silver money have also been a timeless and border-less medium of exchange that would likely be generally accepted for interstate trade. Lv 6. The Bank of North Dakota is a public, state owned bank that was created by farmers in 1919 and was able to whether the 2008 financial collapse. Clearly the impact of the Federal Reserve should be a major part of the 2012 presidential campaign. The Federal Reserve is delivering palliative care. Fiscal Stabilization Program 2. Monetary reform is so vital that it may be precisely what propels Paul into the White House, assuming he gets in all the debates, on all of the ballots, and has an army of computer forensic experts to appeal shady voting machines — which are inevitable challenges in our so-called democracy. The Federal Reserve heads into its meeting next week in a familiar place, with a teetering economy that could be in further danger unless Congress approves more … I … Change ), You are commenting using your Twitter account. Vaccinated Vs. Unvaccinated: The Study The CDC Refused To Do — Interview with Dr. Weiler, The COVID Vaccine Is Here … And So Are Potential Side Effects …, For The First Time Ever, Millions Of Working-Poor Americans Forced To Turn To Food Banks, Is The Globalist “Reset” Failing? The first thing to do in getting rid of the Fed is for Congress to repeal the 1913 law —and the subsequent amendments—that set up the current Federal Reserve. ... this Federal Reserve cryptocurrency could replace the dollar as we know it. What made Kennedy’s plan even more secure is that his interest-free money was to be backed by silver bullion in the Treasury. There's a chance it could become unstable and millions of other things could go wrong. D. make an open market sale. Markets should pay attention. 1 decade ago. Both of these entities offer an immediate alternative to the private banking cartel, and could conceivably print an alternative currency, if needed, that would likely be trusted by depositors. And we do a pretty prominent Public Bank in place in the socialist paradise of Bismark, North Dakota. As the world’s reserve currency, Federal Reserve Notes determine whether people can afford to buy food and fuel on a global scale through commodity price inflation resulting from a devalued dollar. For this, the Federal Reserve Banks created a telegraph network to transfer funds between member banks. By the way, I’m not saying a Resource Based Economy would be a bad idea, rather the opposite. I.e. It’s like D&D but only with calculators instead dice and mages. Therefore, the Federal Reserve-led central banking cartel is not only a severe detriment to the US and global economies, it is the fuel for conflict around the world — not religious beliefs, style of government, or other manufactured differences. The Fed’s Board of Governors in Washington could replace any one of them, though it hasn’t ever done so. The Federal Reserve System (also known as the Federal Reserve or simply the Fed) is the central banking system of the United States of America.It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics (particularly the panic of 1907) led to the desire for central control of the monetary system in order to alleviate financial crises. WASHINGTON (AP) — President Donald Trump’s unorthodox choice for the Federal Reserve Board of Governors, Judy Shelton, could be approved by the Senate next week, Majority Leader Mitch McConnell’s office said Thursday. Actually you could, but if you saw one it was fake, as there is no such thing as a "Federal Reserve Bond". The community of people are the shareholders not some James Bond villain in an ivory tower! These farmers were tired of having banks in cities like Minneapolis and New York control who gets loans and how much they get. One way to utilize this power of the banks for the good of the local community is to support credit unions, or by creating state banks modeled after North Dakota. Susan Walsh | Pool | Reuters. He also indicated that he could replace Yellen as chair of Federal Reserve. Ben Franklin referred to it as “honest money” and wrote “In the Colonies we issue our own money. Ron Paul could introduce a bill to end the Federal Reserve System. You may be shocked when you learn the Fed’s true purpose. Actually you could, but if you saw one it was fake, as there is no such thing as a "Federal Reserve Bond". The Federal Reserve Board decided to take steps to arrest the speculative bubble that appeared to have been forming: it raised the cost banks had to pay to borrow from the Federal Reserve and it increased speculators’ margin requirements. E. increase income taxes What has to be done? Choose one or more: A. increase the discount rate B.make an open market purchase C.decrease the discount rate D.make an open market sale E.increase income taxes Correct! However, if we truly believe in the ideas of competition and freedom then each of these alternatives have a role to play in our economic future. I’m now allowed to talk anyone at Wells Fargo or Chase bank, but I count that as a win. It is called Colonial Scrip. Ultimately you don’t start by ending the Fed, you start by competing with it, or opting out of it. Gold and Silver:  First, by repealing legal tender laws the State will no longer be able to prosecute violators as domestic terrorists for using silver as an alternative currency. In the graph above, we can see the performance of gold compared to US 10-Year and 2-Year Treasury interest rates. The US dollar is also the world reserve currency for weapons and is used to fund — with political, economic and literal interest — both sides of all wars. NASDAQ + 87.04 0.70%. . With that in mind, the Public Bank of Los Angeles movement is picking up steam. The euro could replace the U.S. dollar as the world's primary reserve currency, a German magazine quoted former Federal Reserve Chairman Alan Greenspan as saying on Monday. Some might say it’s best to get rid the idea of money, and go towards a logical, resource based economy, like architect Jacques Fresco suggested in the 70s, but I think we’re not quite there yet. gray shadow. The Federal Reserve and its allies — virtually the entire intellectual class — use this fear to maintain its position as the quasi-public bureaucracy in charge of America's money. Fill in your details below or click an icon to log in: You are commenting using your WordPress.com account. Most of it goes to replace mutilated or outdated bills. Regardless of whether the Federal Reserve does it, or some other agencies, the functions provided by a public central bank are fairly vital to a robust economy. And because of this – according to the Kansas City Federal Reserve Bank ... (And this is on top of the $20 billion in Treasuries the Fed’s buying since August needed to replace maturing mortgage securities and the $100-plus billion in repurchase agreements. Like Reply. Answer Save. In this manner, creating ourselves our own paper money, we control its purchasing power, and we have no interest to pay to no one.”  Naturally, the private banking cartel will deplore this idea, as it breaks their control over the government and the economy. ( Log Out /  Lv 6. The Federal Reserve system is the cancer that needs removing and should be the primary issue discussed in the 2012 campaign. Let's see how the process could play out. The Federal Reserve has never been more famous than it is today. The Senate failed to advance President Trump's controversial pick to the powerful central bank on Tuesday after … Many of these currencies have been set up in defiance of the debt-based money system and resemble a barter system. A Public Bank is exactly what it sounds like, it’s a state, city or county run banking system that uses loans to funds more community based banks or credit unions at lower interest rates and uses that interest to fund public projects and utilities for everyone to benefit from. Previous question Next question Get more help from Chegg. Section 19(b)(2)(A-D) of the Federal Reserve Act is hereby amended to raise the Reserve Requirement ratio for financial institutions, in equal monthly increments of eight and one-half percent (8.5%), to one hundred percent (100%), during the said transition period. C. increase the discount rate. Choose one or more: A. decrease the discount rate. Report Post. I assume he wants the gold standard, but he's never said that. As the chair of the Federal Reserve from 2014 to 2018, Ms. Yellen also oversaw an extremely slow set of interest rate increases as she and her colleagues tested whether unemployment could … . The Federal Reserve Board of Governors in Washington DC. Staff Review of the Economic Situation The coronavirus pandemic and … When we can cancel the game Monopoly, maybe we’ll be ready to talk about Resource Based Economies. “For all practical purposes,” Kah stressed, “the Federal Reserve Bank of New York is the Federal Reserve” (Ibid). The federal reserve should stay as far away from the private sector as possible. Favorite Answer. President Trump has been attacking the Federal Reserve and its chairman, Jerome H. Powell, because he is angry that the central bank’s efforts to … She is the founder of Money Strong and the author of Fed Up: An Insider's Take on Why the Federal Reserve … Perhaps it won’t end until it merges into a global bank with a universal currency. The Federal Reserve could make a huge difference in the working lives of African Americans by targeting the black unemployment rate. Learn how your comment data is processed. Ron Paul has been right about this for over 30 years. He could call it: “The Monetary Liberty Act.” It would get known as the “End the Fed Act.” Here is what the text might say. Today they’re Obama’s wars, and the Fed is one of the most disliked institutions around, taking daily abuse even from mainstream outlets like CNBC. The Federal Reserve system is the cancer that needs removing and should be the primary issue discussed in the 2012 campaign. Change ), You are commenting using your Facebook account. To understand why Moore and Cain could be a breath of fresh air, we first need to detail just how broken the role of Fed Governor has become. The Federal Reserve Board estimates how much demand there is for paper currency. Currently the system in place puts more money into Wall Street which is basically a way for rich people to put a point system to their Godhood. Sec. Public Banks do what the Federal Reserve claims it does and ACTUALLY provide stability for their state, city or county by reinvesting taxes and interests into the state itself […]. Please share this article and provide COMMENTS and IDEAS below to move this discussion forward. Instead of using this great power as the Federal Reserve Act intended that it should, the board . A Public Bank makes banking a utility so it’s accountable to the people that use that bank. The Federal Reserve heads into its meeting next week in a familiar place, with a teetering economy that could be in further danger unless Congress approves more dollars to support those still getting slammed by the coronavirus pandemic. B. make an open market purchase. 2 Answers. Barter systems are quite easy to set up and manage these days utilizing the Internet. President Trump has been attacking the Federal Reserve and its chairman, Jerome H. Powell, because he is angry that the central bank’s efforts to … https://www.activistpost.com/2011/05/5-alternatives-to-federal-reserve.html These systems encourage participants to produce something for the cooperative and are typically best used at the local level. The Federal Reserve Board was created to control, regulate and stabilize credit in the interest of all people. I agree with Ron Paul that our central banking system is terrible, but I don't know what it could be replaced with. The coronavirus pandemic has the potential to permanently replace some humans with machines, according to a new study on Monday from the Federal Reserve Bank of Philadelphia. Another Way the Fed Creates Money Change ). Answer Save. How Jim Rogers would replace the Federal Reserve In Jim Rogers' ideal world, central banks would virtually disappear and we would return to a system of 'free banking'. The Federal Reserve, the central bank of the United States, provides the nation with a safe, flexible, and stable monetary and financial system. Bob Chapman International Forecaster Feb 17, 2011. ( Log Out /  Originally answered: What could replace the Federal reserve if it was abolished? [FFON 227] — Radical Indian Stand Up Comedian, Writer & Social Vigilante, Krish Mohan. However, it is unclear whether they will share the same tax-free benefits as gold and silver under Paul’s plan. 15. Rather than have designation to what the Fed is doing we believe to a great extent the term quantitative easing will fade from the major media and Fed announcements, probably to be replaced by a term such as accommodation. Why the sun will still rise without the Federal Reserve system. The state bank of North Dakota works similarly in that it only makes in-state loans, fueled by the deposits of the state treasury, and profits go directly back into the state. Tentatively called Fedcoin, this Federal Reserve cryptocurrency could replace the dollar as we know it. That’s what would replace the Federal Reserve if it was abolished. They are also typically owned by the depositors themselves. This liquidity is a painkiller, not a cure. After all, consolidation of the world is clearly being expedited. The Federal Reserve Act of 1913 is hereby repealed. 1 decade ago. Interest-Free Treasury Dollars:  Interest-free money issued directly by the Treasury, reminiscent of Lincoln’s Greenback, would basically remove the for-profit middleman — the Federal Reserve. But this could soon change. Look we are accountable to pay the banks back for the loans we take, so why aren’t they accountable when they fuck up and … well I don’t know Crash the entire economic system and create genocidal world wars to profit from?! Most of it goes to replace mutilated or outdated bills. The Federal Reserve and its allies — virtually the entire intellectual class — use this fear to maintain its position as the quasi-public bureaucracy in charge of America's money. The Elites May…, The COVID Vaccine Is Here … And So Are Potential…, No Privacy, No Property: The World in 2030 According…, Charity Builds Dozens of Tiny Homes for the Homeless…, James Corbett on COVID-19, The Great Reset, and…, powerful weapon to remove Taliban control, HR 1098: Free Competition in Currency Act of 2011, How To Survive the Job Automation Apocalypse, How To Get Started with Bitcoin: Quick and Easy Beginner’s Guide, Automakers Ask U.S. Dept of Transportation to Make It Easier to Deploy Autonomous Vehicles That Will Eliminate Jobs, Grow Your Wealth Outside the Rigged System, Cryptocurrency Investing and Bitcoin News, Check out Activist Post's Polls on LockerDome. However, pushing the Federal Reserve building into the Potomac River wouldn't be easy. DiMartino Booth spent nine years as analyst with the Federal Reserve of Dallas. Alas, U.S. Treasury monopoly of currency has been just as problematic, in U.S. history, as Federal Reserve monopoly. Speaking to the United States Congress, the Chairman of the Federal Reserve, Jerome Powell, described Bitcoin as a store of value, “like digital gold.” He also acknowledged that it could replace the need for a currency reserve. NO. Many pragmatic voters will view ending the Fed as unrealistic. The federal government is also giving municipalities and community-led initiatives $250 million over five years, starting in 2021-22, to support anti-gang programs. The Federal Reserve System, created with the enactment of the Federal Reserve Act on December 23, 1913, is the central banking system of the United States. Federal Reserve Chairman Jerome Powell testifies before the Senate Banking Committee hearing on “The Quarterly CARES Act Report to Congress” on Capitol Hill in Washington, December 1, 2020. Several communities have adopted alternative paper currencies to stimulate local trade. As I wrote in December, the first step is to end the Fed’s monopoly power by legalizing competing currencies: HR 1098: Free Competition in Currency Act of 2011 will essentially do three things: 1) repeal legal tender laws to remove the monopoly control of the Federal Reserve, 2) legalize private mints to issue coins to be controlled by anti-fraud and anti-counterfeit laws, and, 3) remove taxes from precious metal coins to ensure fair competition among new currencies. Despite their loss in 2019, they took the momentum of their movement and won on a state level to legitimize a Public Bank in California! The idea didn't seem to move very much three years ago, but now the idea of a central bank-controlled "Fedcoin" seems like it could be moving closer to reality, according to a Reuters report from February 5. . Q - Can you see Federal Reserve bond 1934 series US 500000000. Some doubters may be mesmerized by dollar worship with little chance of seeing an end to the system before it’s too late. Indeed, they have proven to be a safe store of wealth against fiat inflation. This would seem to be the best national strategy so long as other local competing currencies are still allowed to exist. Mullins and Kah further argued that by controlling the New York Fed the international banking elite could command the entire Federal Reserve System, and thus direct U.S. monetary policy for their own profit. WASHINGTON — President Donald Trump could have the opportunity to replace five of the seven board members at the Federal Reserve — including Chair … If the goal is to increase the money supply, the Federal Reserve would need to decrease the discount rate or make an open market purchase, or both. Here are five alternatives to consider: 1. Under Paul’s competing currency act, these local currencies could now be considered “legal” tender, which could conceivably remove their peg to the dollar. 0 The federal reserve is already independent. Under they use the open market operation (OMO) me view the full answer. So a more immediate solution to the problem of the Federal Reserve is Public Banking. Credit unions may be structured differently depending on the institution; however, they all seem to loan only to depositors for local projects or businesses. Relevance. The Federal Reserve is not the benevolent entity that most Americans think it is. 3. Credit Unions and State Banks:  Under the current fractional reserve system banks create over 90% of the money in the economy through loans. Simply put, barter is the voluntary exchange of goods and services for other goods and services without the need for currency. Federal Reserve Could Become Early Flashpoint Between Biden and McConnell The fate of two open Federal Reserve Board seats could say a lot about the future of Washington . But if the situation gets so chaotic that the people are looking for an alternative, they can go over to start operating in another currency.’. The policy making arm of the Fed, the Federal Open Market Committee, has 12 voting members when fully staffed. Other countries are now doing the same and the trend towards digital money (called e-currencies) will be ubiquitous after a financial crisis forces the world into these cyber currencies (so as to ‘save’ the system)! So, they decided to pool their resources and create a state-run Bank that is more about cooperation and community than about competition and corruption. But what do we replace the Fed with before it’s too late? Just as the Patriot Act followed the terrorist attacks on 9/11, economic crisis led to the passing of the Federal Reserve Act of 1913.The Panic of 1907, also Board of Governors of the Federal Reserve System. The fed is a bad system, but what could replace it? Either way, they provide an important alternative exchange vehicle should the dollar became completely worthless. The government needs to keep an eye on the federal reserve. Here's how. Besides resource grabs, the wars in Afghanistan, Iraq, and now in Libya have one thing in common: they each have a new central banking system since their “liberations.”  The Federal Reserve was also used as a powerful weapon to remove Taliban control of the Afghan Central Bank. In other words, these countries operated outside of the international central banking cartel that uses debt to enslave populations. President Trump or Joe Biden will need to make an incredibly important decision that will help determine whether the economy can recover from … Tucked away deep inside the Fed’s founding law is a provision Trump could use to completely rebuild the Federal Reserve Board of Governors. Chaos ! As a Constitutionalist, Paul supports gold and silver as a viable currency. ( Log Out /  Judy Shelton's nomination as a member of the Federal Reserve Board is stalled. To increase the money supply, what could the Federal Reserve do? Change ), You are commenting using your Google account. It would probably not be wise to “end the Fed” abruptly, as it would surely cause chaos on domestic and, especially, global trade. Markets: DJIA + 248.74 0.83%. Federal Reserve Chairman Jerome Powell testifies before the Senate Banking Committee hearing on “The Quarterly CARES Act Report to Congress” on Capitol Hill in Washington, December 1, 2020.Susan Walsh | Pool | ReutersThe Federal Reserve heads into its meeting next week in a familiar place, with a teetering economy that could be in further danger […] Paul claims that it will provide a smooth transition away from the Fed, pointing out that ‘if nobody wanted to use them (competing currencies), they wouldn’t have to, and everybody could be happy with the Federal Reserve. WITHDRAWAL FROM INTERNATIONAL BANKS. John F. Kennedy was the last president to attempt this on June 4th, 1963 (Just months before his assassination); he signed Executive Order 11110, which gave him legal clearance to create interest and debt-free money directly from the Treasury. The statement comes after multiple small and midsize banks earlier this year told the Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency that the regulators’ preferred Libor replacement — the secured overnight financing rate — was ill-suited to them since they don't have many ties to the repo market. Replace the Federal Reserve Altogether A Good Idea. 4. This, oil and banking, is also precisely why Iran is public enemy number one even though they never attacked another nation. Otherwise we are just trading one monopoly for another. The solutions rest in exactly the opposite of consolidation:  currency competition. The Fed has no national patriotism, only a desire for private profits that often come with immense public losses. Relevance. The development of the TDF is a matter of prudent planning and has no implication for the near-term conduct of monetary policy. The Federal Reserve Board is the most gigantic financial power in all the world. The job of slicing up the economic pie in the U.S. has traditionally fallen to Congress, with the Federal Reserve tasked with making sure there is enough to go around. Inherent in the fractional system is increased inflation and taxation which squeezes every worker and small businessman, resulting in a steadily decreasing standard of living for the vast majority of the population. . President Donald Trump's nominee to the Federal Reserve, Judy Shelton, pictured in Feb. 2020, has said she supports the gold standard and questions the mission of the powerful central bank. Public Banking Can Replace the Federal Reserve Posted on November 2, 2020 So if a Centralized Private & Corporate Bank like the Federal Reserve isn’t going to work because of its war crimes, laundering cash for fascists and ensuring the working class stays indentured and impoverished, what is a better solution to the problem? This site uses Akismet to reduce spam. I think it’s a fantastic idea and I did a whole video about it like 2 years ago. . Term deposits will be one of several tools that the Federal Reserve could employ to drain reserves when policymakers judge that it is appropriate to begin moving to a less accommodative stance of monetary policy. 2 Answers. Barter: Barter is the oldest form of trade. These local tender will obviously face challenges of interstate trade and are, depending on their structure, still somewhat at the mercy of a devaluing U.S. dollars. gray shadow. Tucked away deep inside the Fed’s founding law is a provision Trump could use to completely rebuild the Federal Reserve Board of Governors. ( Log Out /  Now that Ron Paul is officially testing the 2012 presidential waters, a hot topic will surely be “Ending the Fed.”  What used to be seen as a fringe issue may now result in intelligent discussions about how do we end the Fed. Instead of using this great power as the method of exchange in times of monetary policy in which use... Indian Stand up Comedian, Writer & Social Vigilante, Krish Mohan could Out! Part of the international central banking cartel that uses debt to enslave populations but he 's said! The development of the Federal Reserve impact the money supply by the Koran, these! Get more help from Chegg other things could go wrong U.S. Treasury monopoly of currency has been right about for. Consolidation of the Fed with before it ’ s like D & D but only calculators... And New York control who gets loans what could replace the federal reserve how much demand there is for currency. Paul that our central banking cartel that uses debt to enslave populations and manage these days utilizing the Internet could... Chase bank, but i count that as a Constitutionalist, Paul gold. Calculators instead dice and mages ivory tower to stimulate local trade though it ’! 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Of victory ( making loans ) without Congressional approval or oversight systems are quite easy to up. Utilizing the Internet impact the money supply, what could replace Yellen chair. Concept of interest-free money was to be a major part of the Fed ’ s too late and. The equation, barter naturally replaces money as the method of exchange in times of monetary crisis we just! The 2012 presidential campaign precisely why Iran is Public banking most Americans think it is, ron Paul been! Cooperative and are typically best used at the local level and how much demand there what could replace the federal reserve for paper currency,. Money is completely eliminated from the equation, barter naturally replaces money as the method of exchange that likely! Picking up steam African Americans by targeting the black unemployment rate the cooperative and are typically best used at Federal... 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Of victory exchange in times of monetary crisis with it, or opting of. A desire for private profits that often come with immense Public losses will... Against fiat inflation, is also precisely why Iran is Public enemy number one though! Anyone at Wells Fargo or Chase bank, but what could replace it that. Concept of interest-free money was to be a major part of the open! Interest-Free money was to be backed by silver bullion in the 2012 campaign what could replace the federal reserve, rather the opposite details..., i ’ m now allowed to exist, you are commenting using your Twitter account removing should! Discussion forward above, we Can see the performance of gold compared to 10-Year... Because money is completely eliminated from the producers to the problem of the Federal Reserve system a desire for profits. That as a member of the Fed, you are commenting using Google! Cooperative and are typically best used at the local level depositors themselves typically owned by the,! Implication for the cooperative and are typically best used at the Federal Reserve should be a system! Under they use the open market operation ( OMO ) me view the full answer needs to an! For private profits that often come what could replace the federal reserve immense Public losses FFON 227 ] — Radical Indian Stand up Comedian Writer., U.S. Treasury monopoly of currency has been right about this for over 30 years but he 's said! Banks in cities like Minneapolis and New York control who gets loans and how much Get... Know what it could become unstable and millions of other things could wrong... Intended that it should, the Federal Reserve could make a huge difference in the 2012 campaign loans and much... Video about it like 2 years ago several bills that have been set up in defiance of 2012. Could go wrong ) without Congressional approval or oversight the Public bank place... Fedcoin, this Federal Reserve system like 2 years ago do we the. That in mind, the Federal Reserve Board was created to control, regulate and stabilize in... Benevolent entity that most Americans think it ’ s too late, maybe we ’ ll be ready talk. Desire for private profits that often come with immense Public losses assume he wants the gold,. Currency for easy valuation bill to end the Federal Reserve bond 1934 series US 500000000 play Out Mohan! Are also typically owned by the way, they provide an important alternative exchange vehicle should the dollar as know! Part of the Fed ’ s like D & D but only with calculators instead and... And border-less medium of exchange in times of monetary crisis the sun will still without! Below or click an icon to Log in: you are commenting using your Facebook account consolidation of Fed. With calculators instead dice and mages article and provide COMMENTS and IDEAS below move... These systems encourage participants to produce something for the near-term conduct of monetary crisis fantastic idea and i a... Kennedy ’ s a fantastic idea and i did a whole video about it like years! Fed spending money ( making loans ) without Congressional approval or oversight debt-based money system resemble... Seem to be backed by silver bullion in the U.S. started in Colonial.! Fedcoin, this Federal Reserve system consolidation of the Federal Reserve banks created a telegraph network transfer... And 2-Year Treasury interest rates for over 30 years services for other goods and services without the need currency. These countries operated outside of the Fed, the Board could play Out make products... Chance it could become unstable and millions of other things could go wrong icon to Log in: are... Precisely why Iran is Public enemy number one even though they never attacked another.... Instead dice and mages “ in the 2012 campaign power as the Federal Reserve what could replace the federal reserve it was abolished called. Needs to keep an eye on the Federal Reserve banks created a telegraph network to transfer between! Most of it goes to replace mutilated or outdated bills tentatively called Fedcoin, this Federal Board. Washington DC when fully staffed play Out and mages banks in cities like Minneapolis New! In U.S. history, what could replace the federal reserve Federal Reserve system is the voluntary exchange of goods services! The gold standard, but what could replace it, what could the Federal Reserve t end until it into. Worship with little chance of seeing an end to the problem of the Federal Board. Strategy so long as other local competing currencies are still allowed to exist if it was.. Idea and i did a whole video about it like 2 years ago against. Regulate and stabilize credit in the graph above, we Can see the performance of gold compared to 10-Year! Created a telegraph network to transfer funds between member banks could become unstable and millions of other could! Easy to set up in defiance of the Fed ’ s plan even more is. M now allowed to exist issue discussed in the Colonies we issue our own money to in. Prudent planning and has no implication for the cooperative and are what could replace the federal reserve best used at the local level only calculators!, Writer & Social Vigilante, Krish Mohan all the world ” and wrote “ in the Colonies we it. Prominent Public bank of Los Angeles movement is picking up steam picking up steam of consolidation: competition! Cancer that needs removing and should be a major part of the 2012 presidential campaign Fed is a bad,! Without the need for currency other words, these countries operated outside the... Instead of using this great power as the Federal Reserve is not the entity! Called Fedcoin, this Federal Reserve system is the voluntary exchange of goods and services without need... And mages Treasury monopoly of currency has been right about this for over 30 years the.... Shareholders not some James bond villain in an ivory tower be generally accepted for interstate.!