CNBC Poll: Should the Fed be Abolished?

Discussion in 'Economics' started by wildfirepow, Sep 19, 2009.

Should the Fed be Abolished?

  1. Yes

    60 vote(s)
  2. No

    15 vote(s)
  3. Not sure

    3 vote(s)
  1. It should be abolished.

    This era of entanglement between politics and big money has cripled the nation and has nothing to do anymore with the foundation upon which the United States was formed.

    And yes the consequences would perhaps be more dire for more people then when the status quo would be pursuit but somethimes that's a price people and societies have to pay in order to rebalance the system.

    It is time for the American people to take their medicine and ensure the wellbeing of future generations to come.

    Unfortunately paradigm shifts like this only take place when there truly is no other option left and I don't believe we are at that point just yet.

    Some of the smartest people out there in economics who have predicted and could see what is wrong with the financial system of today all have one thing in common that is they underestimated the power and resilience of central banks and their pawns to sustain the unsustainable.

    However when the bow breaks, the cradle will fall so let's hope the people will use that momentum for the best.
  2. zdreg


    the poll should have included a choice of keep the fed but change the fed's mandate to price stability or change their mandate to full employment
    currently it is an irreconcilable both.
  3. Paul sees his goal of cutting off the power of the Fed as attainable in the long run, but needed a "playbook" to help educate the general public as to why they should care, and what they should demand be done about it from their elected officials.

    Good luck wid dat. The book will be for sale on Amazon for a quarter in a years time. Not to take away from the guys idea's and goals but there's no votes in it.
  4. sida


    Federal Reserve will implode the economy on purpose if we try to END THE FED

    but it still has to be done, these people are the worst kinds of snakes
  5. That is right, 90% are sheeples and only 5% making money from market.
  6. In the meantime they are getting more power than ever. Power to lend more, power to regulate. Just recently the Fed was given oversight for bank bonus pay. That's like telling the mob boss that he's given responsibility for gun control. He won't do anything, or he'll screw us all.

    And of course the news is reported as a major triumph.
  7. How could the Fed carry out a mandate of "full employment"?

    There are 500 million worker-wannabes in low labor cost countries clamoring for the 20-30 million of our former middle-class and wage jobs.

    Not only are middle-class jobs not coming back to America, we'll all be SHOCKED when we realize there won't be even a minimum wage job for everybody... :(

    We should have never had a Central Bank. The Founding Fathers were adamantly against it.... and now we understand why! Andrew Jackson got rid of the one we had in his time.

    Unfortunately, our monetary system probably wouldn't allow us to work our way out of having the Fed even if we were of a mind to.
  8. sida



    when burger flippers don't hava job

    might as well hang oneself and be freakin done with it :eek: :eek: :eek: :eek: :eek: :eek:
  9. clacy


    If the FED was abolished, who do you think would take control of monetary policy?

    Yep, you guessed it..... Congress. That's right, Harry Reid, Nancy Pelosi, and Barney Frank.

    That would be a freaking disaster.
    #10     Sep 19, 2009