Replace the fed? Will never ever ever ever ever ever happen. The dollar will always be there. The printing of cash will always be there, there can never be risk on any amount they print because that would have happened by now. Bitcoin and gold will never replace the dollar ...its been talked about for years how central banks run things, this will never change. The problem i have with these and all videos and articles and everything else in between, is that no matter how many trillions of times its talked about it will never change. Its all talk and no change. Thats all politics is.
As long as people have faith in the dollar, there is no reason to get rid of the fed. As long as peoples bellies are full, they will never lose faith in the dollar.
The fed is a private organization unaccountable to any elected official in the US. This alone should make you say "why are we letting them control our currency then?" The fed has changed their definition of inflation half a dozen times to fit their narrative. The fed is paid by our taxes in order to fund the debt America takes from them. Our taxes are mostly going to paying down our debts to the fed. The fed is responsible for the great depression. The fed is responsible for the housing crisis. The fed will be responsible for the greatest market collapse we have ever witnessed when they cease their QE infinity. The fed is irresponsible. What business does an unelected, separate, and unauditable organization have with America's currency? Anyone who's spent half a week studying economics realizes America was better off before the fed. The founding fathers fought tooth and nail to prevent a federal reserve from happening because it allows an unaccountable elite to control the lifeblood of a nation - it's currency. The greatest prosperity boom in American history happened before the fed. Wake up. Nothing will change unless more people become aware of how clandestine and dangerous a federal reserve system is. The fed is an unnecessary redundancy that manufactures it's utility through the destruction of value backed currency and the creation of valueless paper ("fiat") money.
Anyone who's spent MORE than half a week studying economics realizes that America is better off because of the fed. You want to go back to pre-fed? You want to go back to 50% down, 5 year mortgages like we had pre-fed? Also no FDIC for when banks get robbed or go out of business. If you're lucky enough to have a credit card in the post no-fed world, you can forget about getting your money back if someone steals your credit card online and runs up $20k in debt. You're going to have to pay that now. Your life will not be better off without fiat. As long as America is king or at least perceived as king, fiat works great and wont fail. We're not zimbabwe with some African dictator who steals half the tax money. Ending the fed would be a disaster for us and several generations.
Answer this simple question...Why does the fed have to charge interest on the money it creates? What would happen to the fed if it did not charge interest? Mmmm?
The amount of interest they charge is to influence how much the member banks will borrow from them. It generally works to curb inflation. High inflation might make people have less faith in the currency especially if it happens too fast.