View Poll Results: Would you?

Voters
10. You may not vote on this poll
  • Yes, we should tie treasury yields to the deficit as a % of GDP.

    1 10.00%
  • Yes, we should tie treasury yields to the deficit as a % of gov't spending.

    1 10.00%
  • No, we should let bankers keep running the Federal Reserve.

    8 80.00%
Page 2 of 3 FirstFirst 123 LastLast
Results 11 to 20 of 29

Thread: A Simple Way to Kill the Fed

  1. #11
    Death2Globalists Matt Foley's Avatar
    Join Date
    Dec 2011
    Location
    ExecuteTheTraitors
    Last Seen
    11-24-12 @ 12:17 AM
    Gender
    Lean
    Other
    Posts
    5,574

    Re: A Simple Way to Kill the Fed

    The anti-fed guys would prefer Congress set the amount of money per year that the treasury prints.

    Oh good plan. So when Democrats are charge, the Democrats print a couple extra trillion dollars to fund their people. When Republicans are in charge, the Republicans print a couple extra trillion dollars to support the rich as they cut their taxes. What an awesome plan.

    Quote Originally Posted by AreteCourage View Post
    We run under Keynesian economics .....Austrian economics would be better
    The Great Kenyan vs. Australian Debate: more like a couple monkeys flinging poo at each other.
    Last edited by Matt Foley; 05-18-12 at 01:22 PM.

  2. #12
    Banned
    Join Date
    Oct 2011
    Last Seen
    09-18-12 @ 08:07 AM
    Lean
    Private
    Posts
    3,245

    Re: A Simple Way to Kill the Fed

    Quote Originally Posted by rathi View Post
    If you want to get rid of the FED, you first need to alter the economic paradigm so it no longer becomes necessary.
    You don't see this step doing that?

    When the interest rate is tied to the budget deficit, that means the government chooses how much it's going to pay on interest in accordance with how far expenses are greater than revenues.

    The economic paradigm shift would be towards fiscal responsibility where people pay their bills.

  3. #13
    Educator AreteCourage's Avatar
    Join Date
    Apr 2012
    Last Seen
    08-30-13 @ 12:34 PM
    Gender
    Lean
    Libertarian
    Posts
    790

    Re: A Simple Way to Kill the Fed

    Quote Originally Posted by Matt Foley View Post
    The anti-fed guys would prefer Congress set the amount of money per year that the treasury prints.

    Oh good plan. So when Democrats are charge, the Democrats print a couple extra trillion dollars to fund their people. When Republicans are in charge, the Republicans print a couple extra trillion dollars to support the rich as they cut their taxes. What an awesome plan.
    Not true for me. I want government out of it, and the free market to set the standards.
    Libertarian and Atheist...wow I'm a hated man.

  4. #14
    Banned
    Join Date
    Oct 2011
    Last Seen
    09-18-12 @ 08:07 AM
    Lean
    Private
    Posts
    3,245

    Re: A Simple Way to Kill the Fed

    Quote Originally Posted by AreteCourage View Post
    There is no easy way to completely eliminate The Fed. We have to look at our economic policy as a whole along with our Constitution. First and foremost, the Constitution would forbid it under the 10th Amendment (you know that silly document our forefathers ratified to put power to the people). However, you can't simply eliminate it overnight. It would take a lot of time and effort to slowly faze it out.

    We run under Keynesian economics which runs under the assumption that spending is better. That is the basic interpretation of it. Keynesian economists think that the private sector needs to be regulated by public spending, and a central bank rather then a free market. This system has led to more economic downfall then any other. Whenever you place too much power in the hands of government chaos ensues. The Fed is allowed to print money out of thin air and create credit rates. They have control over the unemployment stats which are also under the artificially created numbers under The Fed. The funny thing about the Federal Reserve is that it is no more "federal" then FedEx. There is no accountability, or system of audit. We just blindly trust these groups of bankers to take care of us.

    Austrian economics would be better which states that economies run better on free markets with little intrusion from government. Instead of flawed stats they derive economic theory from principles of human action. It is a more logical and sound way to run an economy then all this government interference.

    Once we change the way we run the economy and focus more on a free market system, then The Fed becomes irrelevant.
    There's a reason Austrian theory falls flat.

    What libertarians fail to realize is society doesn't care. The value of the Federal Reserve is that it provides a sophisticated institution which people respect. Without that sophistication, nobody would see a reason to respect creditors. They would simply beat creditors up, take their money, and run. If you're an innocent property owner, and you get violated, the courts would only care to honor your claim if they liked you.

    The reason Austrians hate the Fed is because it allows some sophisticates to have power while abandoning others.

    My proposition eliminates this. When treasuries are tied to the budget deficit, that means legislators get elected per economic expertise. We don't end up with a legislature with elitist monetary policy outsourcing. We end up with a legislature with populist monetary policy insourcing. Candidates can't run on reckless spending because the tie holds them responsible, so the only people elected are those who actually understand how to handle money.

  5. #15
    Educator AreteCourage's Avatar
    Join Date
    Apr 2012
    Last Seen
    08-30-13 @ 12:34 PM
    Gender
    Lean
    Libertarian
    Posts
    790

    Re: A Simple Way to Kill the Fed

    Quote Originally Posted by Daktoria View Post
    There's a reason Austrian theory falls flat.

    What libertarians fail to realize is society doesn't care. The value of the Federal Reserve is that it provides a sophisticated institution which people respect. Without that sophistication, nobody would see a reason to respect creditors. They would simply beat creditors up, take their money, and run. If you're an innocent property owner, and you get violated, the courts would only care to honor your claim if they liked you.

    The reason Austrians hate the Fed is because it allows some sophisticates to have power while abandoning others.

    My proposition eliminates this. When treasuries are tied to the budget deficit, that means legislators get elected per economic expertise. We don't end up with a legislature with elitist monetary policy outsourcing. We end up with a legislature with populist monetary policy insourcing. Candidates can't run on reckless spending because the tie holds them responsible, so the only people elected are those who actually understand how to handle money.
    You are assuming people respect The Fed. People don't trust big bankers, so why would they trust the ones in the Federal Reserve? You think we couldn't work with a Federal Reserve, but we did just fine without it. Our government can uphold contract laws, bankruptcy laws, and the rights of individual liberty and property.

    Your proposition adds to an already huge bureaucracy. So let me get this right....you don't trust the big bankers but you trust the politicians to run our monetary system? I hardly think that adding more to our government will solve this issue. You put way too much trust in these bureaucrats. Our federal government should not be involved so heavily in our economy and monetary system.

    Austrians hate the Fed because it works under a failed Keynesian system.
    Libertarian and Atheist...wow I'm a hated man.

  6. #16
    Professor

    Join Date
    Feb 2011
    Location
    MI and AZ
    Last Seen
    03-15-15 @ 01:29 PM
    Gender
    Lean
    Other
    Posts
    1,581

    Re: A Simple Way to Kill the Fed

    A free trade system in today's world is unstable. Instability in a system requires a negative feedback loop. When the economy is going great guns you tax it more and put the money in the 'bank'. This slows down the growth a bit, negative feedback, but the system is ready for a slow down, e.g. housing bubble doesn't get as bad. Then when the free market collapses some it not starting from such a over build. Then the government should decrease taxes but spend in such things as infrastructure. This is negative feedback also, note that it moves the economy in the opposite direction it tends to go. All stable systems have negative feedback.
    The statement that "We run under Keynesian economics which runs under the assumption that spending is better." is not correct. Keynesian economics is a negative feedback process, a stabilizing method. There is a time delay that should be about a year or two.
    (I'll be off for a while.)

  7. #17
    Banned
    Join Date
    Oct 2011
    Last Seen
    09-18-12 @ 08:07 AM
    Lean
    Private
    Posts
    3,245

    Re: A Simple Way to Kill the Fed

    Quote Originally Posted by AreteCourage View Post
    You are assuming people respect The Fed. People don't trust big bankers, so why would they trust the ones in the Federal Reserve? You think we couldn't work with a Federal Reserve, but we did just fine without it. Our government can uphold contract laws, bankruptcy laws, and the rights of individual liberty and property.
    Not true:

    http://en.wikipedia.org/wiki/Politic..._United_States

    Your proposition adds to an already huge bureaucracy. So let me get this right....you don't trust the big bankers but you trust the politicians to run our monetary system? I hardly think that adding more to our government will solve this issue. You put way too much trust in these bureaucrats. Our federal government should not be involved so heavily in our economy and monetary system.
    I'm not sure why you believe I trust politicians. The whole purpose of the tie is so we don't trust politicians. I'm not suggesting that Congress can arbitrarily set interest rates. It's held by the organic constraint of the budget deficit.

    Austrians hate the Fed because it works under a failed Keynesian system.
    You know the Fed was established before Keynes came around, right?

  8. #18
    Death2Globalists Matt Foley's Avatar
    Join Date
    Dec 2011
    Location
    ExecuteTheTraitors
    Last Seen
    11-24-12 @ 12:17 AM
    Gender
    Lean
    Other
    Posts
    5,574

    Re: A Simple Way to Kill the Fed

    Quote Originally Posted by AreteCourage View Post
    Not true for me. I want government out of it, and the free market to set the standards.
    Section 8

    The Congress shall have Power To

    To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;
    I thought Libertarians were all Constitutionaly'ish.

    You get rid of the FED, and what I said is exactly what will happen.

  9. #19
    Pontificator
    iliveonramen's Avatar
    Join Date
    Sep 2011
    Location
    On a Gravy Train with Biscuit Wheels
    Last Seen
    Yesterday @ 05:30 PM
    Gender
    Lean
    Very Liberal
    Posts
    9,158

    Re: A Simple Way to Kill the Fed

    Why would the government ever pay more than the market is willing to take?
    Last edited by iliveonramen; 05-18-12 at 02:51 PM.
    “Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.” John Maynard Keynes

  10. #20
    Pontificator
    iliveonramen's Avatar
    Join Date
    Sep 2011
    Location
    On a Gravy Train with Biscuit Wheels
    Last Seen
    Yesterday @ 05:30 PM
    Gender
    Lean
    Very Liberal
    Posts
    9,158

    Re: A Simple Way to Kill the Fed

    The Fed manipulates rates via the Fed Discount rate which is different the yield for Federal Debt.
    “Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.” John Maynard Keynes

Page 2 of 3 FirstFirst 123 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •