RSSCentral Banking And The Fed
J.J. Jackson | September 28, 2011
The United States will always, as long as it prints and coins money, have a de facto “central bank”. Whomever holds that currency prior to it’s injection into to the American economy is, by definition, a bank.
The real problem with our monetary policy is not whether or not we have a central bank but the form it takes. The Federal Reserve system is a prime example of a central bank that has too much power to manipulate and warp standard, basic and immutable economic laws on the whims of men who think that they can outrun and outlast the universal laws of banking.
They cannot.
But they still try to manipulate interest rates, fiddle fart with the availability and amount of dollars available, buy up bad debt and do other wholly idiotic things. This is why the Fed must be abolished and upon it’s ashes established a central bank whose only true responsibility and power is to put the money, as ordered by Congress to be printed an coined, into circulation and to do so without weight to political or social concerns. The most useful and proper central bank is one that is dispassionate about all things except this, it’s only just role.
Copyright © 2006-2011
J.J. Jackson is a libertarian conservative author from Pittsburgh, PA who has been writing and promoting individual liberty since 1993 and is President of Land of the Free Studios, Inc. He is the Pittsburgh Conservative Examiner for Examiner.com. He is also the owner of The Right Things - Conservative T-shirts & Gifts. His weekly commentary along with exclusives not available anywhere else can be found at LibertyReborn.com (Digital Fingerprint: libertyreborn123456789)
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