View Poll Results: How should the Federal Reserve be Handled

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  • It should be the sole bank of the United States

    1 12.50%
  • It should exist and coincide along with free market banks

    2 25.00%
  • Free Market banks should be the sole entity. Abolish the Federal Reserve!!!

    4 50.00%
  • Other....

    1 12.50%
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Thread: The Benefits of National Banking

  1. #21
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    Re: The Benefits of National Banking

    Quote Originally Posted by Csareo View Post
    If I could have one wish before I die, it would be the abolition of free market banking. Don't get me wrong, I love capitalism and socialism alike, but the perks here are substantial. With a sole National Bank, we can cut the debt ceiling in half, cut taxes, start up new programs, circulate inner growth to an all time high, and wall street wouldn't be pissing on you anymore. I see but two arguments in its way....

    "Oh golly, if the federal reserve was our sole bank, than they would freely set interest rates and the stock market would collapse"

    Two Problems....

    1. This would only be true if the government was trying to destroy the economy.

    2. The opportunity-cost/trade off, far outweigh that of the stock market investment stream.

    Two Solutions...

    1. Basic constitutional clauses restrict overtly high inflation rates, or overtly low ones.

    2. If the stock market issue was truly a burden, I suppose some sort of investment commitee, board, or even elected body could be formed -_-

    Anyways, I want the populous opinion, so lay it on me.
    Well, looking at your other suggestions....


    First, you would wind up with price controls, that would start to kill businesses who can't make a profit, so they start to leave. Then you put on capital controls to prevent that money from leaving, then to "fix" the problems you will declare that you need inflation to keep the system in check... Then you are in hyper inflation and your people become billionaires that can't afford a bowl of soup, and then your economy collapses.

  2. #22
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    Re: The Benefits of National Banking

    Quote Originally Posted by Moot View Post
    The Federal Reserve tries to keep inflation around 2% using price indexes to set the target rates and interest rates to keep inflation in check. Inflation targeting helps make the federal reserve's moves more transparent which helps take some of the uncertainty out of the market.
    Yes they do, since 2012. Our OP is looking to mandate the inflation rate, not just influence it. So many factors go into how inflation happens including such external factors as currency exchange rates. Not even the most totalitarian states have succeeding setting inflation rates. Most countries try to keep it from any big changes.

  3. #23
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    Re: The Benefits of National Banking

    Quote Originally Posted by AliHajiSheik View Post
    Yes they do, since 2012. Our OP is looking to mandate the inflation rate, not just influence it. So many factors go into how inflation happens including such external factors as currency exchange rates. Not even the most totalitarian states have succeeding setting inflation rates. Most countries try to keep it from any big changes.
    Would you be in favor of national banking if there was a set process of controlling inflation? As you can see, I don't even want the national bank to be the sole bank. I wish for tax incentives to push people towards the federal reserve. Unfortunately, this is not realistic, as the house refuses to put anymore into the federal reserve bank.

  4. #24
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    Re: The Benefits of National Banking

    Quote Originally Posted by Csareo View Post
    Would you be in favor of national banking if there was a set process of controlling inflation?
    I'm not sure I'm either for a national bank or against one. What kind of set processes are you describing in controlling inflation? Inflation is a result of market and monetary forces that can be influenced but not controlled.

    As you can see, I don't even want the national bank to be the sole bank.
    Where would I see this on this thread? You seem to have this vision of how you want things to work, but I don't see how you envision things being, or the results that you are seeking. Your thoughts are disjoint and hard to follow.[/QUOTE]

    I wish for tax incentives to push people towards the federal reserve.
    Again, you have this grand solution in your head but it isn't coming across in this thread. Tax incentives to do what towards the Federal Reserve? What alternative are you proposing as an alternative?

    Unfortunately, this is not realistic, as the house refuses to put anymore into the federal reserve bank.
    I can't tell whether it is realistic or not as it isn't clear what system you are proposing. "house" as in US House of Representatives? "put anymore"--I'm assuming a typo, but put anymore of what?

    You have clearly spent a lot of time thinking about this subject, but you seem all over the map in expressing information without a clear end point. Start with telling what system you want and maybe we can tackle the issues and benefits later. My 2 cents.

  5. #25
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    Re: The Benefits of National Banking

    Quote Originally Posted by Moot View Post
    That sounds wonderful. But who would make sure the banks towed the line in a free market system?
    In terms of what?
    "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

  6. #26
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    Re: The Benefits of National Banking

    Quote Originally Posted by Bigfoot 88 View Post
    In terms of what?
    In terms of curbing the corruption.

  7. #27
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    Re: The Benefits of National Banking

    Quote Originally Posted by Csareo View Post
    My strategy is to piss off as many conservative/libertarians as possible. The solution is providing as many logical threads as possible. Good Day
    It didn't work, we're just laughing at you.
    There is nothing demonstrably true that religion can provide the world that cannot be achieved more rationally through entirely secular means.

    Blog me! YouTube me! VidMe me!

  8. #28
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    Re: The Benefits of National Banking

    Quote Originally Posted by Moot View Post
    In terms of curbing the corruption.
    Well, things like fraud would still be illegal.
    "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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