If The Federal Reserve Co. Quit, Resigned, Retired, How Could It Be Replaced?

If The Federal Reserve Co. Quit, Resigned, How Could It Be Replaced?
Here's Barnes' list of considerations...

 

The ignorance here is palpable.

 

We actually don't know.

One of the original objectives of the Fed was to provide a "transition cushion" during tough times, then to "reclaim" the excesses when things normalized. Unfortunately that was abandoned in favor of "perpetually goosing the markets higher"... for whatever the rationale.

Where does that leave us? Could be that abandoning the Fed would be tantamount to "ripping out your heart... and seeing how you cope without it". (??) I dunno. But in the "big scope of things"... printing money and debasing the buying power of a country's currency... in the hope of resolving its financial problems... HAS NEVER WORKED*! NOT ONCE IN HISTORY!!

*HUNDREDS of historical, catastrophic examples. Why would anybody think the same "somehow might work this time in America"?

 

more detail pls

 

I think Piezoe is referring to the idea or concept that the Fed could "quit" or "retire" or whatever. He believes it is completely insane. I agree with him. The premise of the thread is asinine.

 

don't suppose you took a look at the video did you?

 

With the gold standard, duh.

 

Definitely don't want to go back to that. It's like that quote from Margin Call. "The world would get really fucking fair, really fucking fast"

If you like living in a country where everybody, even poor people, have cars, phones, and homes that don't have dirt floors, then keep the fed going.

 

My time is a little more valuable than to watch every silly notion video put forth. I wouldn't click on "what happens if the sun doesn't rise tomorrow!" either. Although, now that I think about it, that sounds at least interesting.

 

but of course, carry on.