View Poll Results: Should congress or Fed set monetary policy

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  • congress

    1 20.00%
  • federal reserve

    4 80.00%
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Thread: Should congress or the Federal reserve set monetary policy

  1. #1
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    Should congress or the Federal reserve set monetary policy

    That is the question? The more congress interferes the more they in effect influence and in my opinion hurt the Feds ability to do its job.

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    Re: Should congress or the Federal reserve set monetary policy

    Definitely the Fed. Having Congress intervening in monetary policy would be a nightmare. We'd have an incredibly unstable economy and rampant inflation constantly.
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    Re: Should congress or the Federal reserve set monetary policy

    The Federal Reserve is a private central bank. Bankers will do the things that make the bank money and you all think the Fed will make the USA money. It is a private Corporation with stockholders and it is going to make money for the bank, not for you and I and Aunt Sadie. A Private Bank makes money for a Private Bank. Keerist, it's a bank. A Corporate bank. Nobody ever discusses how much money the US citizens owe the Federal Reserve. When China, India, or Japan doesn't buy our US Treasury Bonds (loans to the US Treasury), then the Federal Reserve buys them (The Federal Reserve loans the US Treasury the money). I know that China, India and Japan own over $4 Trillion in US Debt, how much does the Federal Reserve, a private Central Bank, own?

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    Re: Should congress or the Federal reserve set monetary policy

    Quote Originally Posted by Kandahar View Post
    Definitely the Fed. Having Congress intervening in monetary policy would be a nightmare. We'd have an incredibly unstable economy and rampant inflation constantly.
    It would be worse than that.

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    Re: Should congress or the Federal reserve set monetary policy

    Quote Originally Posted by DaveFagan View Post
    The Federal Reserve is a private central bank. Bankers will do the things that make the bank money and you all think the Fed will make the USA money. It is a private Corporation with stockholders and it is going to make money for the bank, not for you and I and Aunt Sadie. A Private Bank makes money for a Private Bank. Keerist, it's a bank. A Corporate bank. ...
    Wow. Where should I go to find out more details on what you posted. Definately not to WIKI 'cus they always lie.

  6. #6
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    Re: Should congress or the Federal reserve set monetary policy

    No, they shouldn't.

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    Re: Should congress or the Federal reserve set monetary policy

    The Fed is least worst option.
    Congress would do a terrible, terrible job of handling monetary policy.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
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    Re: Should congress or the Federal reserve set monetary policy

    Quote Originally Posted by listener View Post
    That is the question? The more congress interferes the more they in effect influence and in my opinion hurt the Feds ability to do its job.
    Well, in the real world, there's no clear cut division.

    What usually happens is that Congress writes rather broad laws. Specifics are then allowed to be written by the regulatory agencies with executive powers, such as the Federal Reserve.

    That way Congress can give the Fed the basics of what they want done but still give the Fed enough leeway to handle their mandates.
    Also, we need to legalize recreational drugs and prostitution.

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    Re: Should congress or the Federal reserve set monetary policy

    I'd rather have a gold-backed currency controlled by Congress, but not really manipulated. That's the constitutional answer as well.
    "I have never understood why it is "greed" to want to keep the money you have earned but not greed to want to take somebody else's money." -Thomas Sowell

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    Re: Should congress or the Federal reserve set monetary policy

    Quote Originally Posted by Bigfoot 88 View Post
    I'd rather have a gold-backed currency controlled by Congress, but not really manipulated. That's the constitutional answer as well.
    No. Gold-backed currency can be manipulated. By gold speculators.
    Also, we need to legalize recreational drugs and prostitution.

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