More Reasons to END THE FED

[CuteOldGuy]

I got this on Facebook. Makes a lot of sense. The Federal Reserve is failing miserably at it's job.

Many of you have argued that the Federal Reserve is one of the greatest internal threats to freedom in the country. But is that a reasonable position? Does devaluing a currency over many decades threaten stability? Is it an act of theft as some would claim?
Consider: "From 1790 until 1913, the dollar lost 8 percent of its value. Since the Fed's creation in 1913, however, the dollar has lost (so far) an additional 95 percent of its value. Given that one of the Fed's mandates is to maintain price stability, such inflation is hardly evidence of successful performance. Clearly, the Fed has undermined the dollar's value."

Donald J. Boudreaux
Failed Fed
Pittsburgh-Tribune Review
November 26, 2010

Here's the link.

http://www.intellectualtakeout.org/c...ary_node=70313

The Fed is only one person in the evil Trinity of Tyranny enacted in 1913. The Fed, The Income Tax, and the 17th Amendment.

[acp5762]

Oh don't get me started on the Fed.

[joe bloe]

There's a rumor that Ron Paul doesn't like the Fed.

[dilbert firestorm]

that's not a rumor, its fact.

[dilbert firestorm]

Originally Posted by CuteOldGuy

I got this on Facebook. Makes a lot of sense. The Federal Reserve is failing miserably at it's job.

Many of you have argued that the Federal Reserve is one of the greatest internal threats to freedom in the country. But is that a reasonable position? Does devaluing a currency over many decades threaten stability? Is it an act of theft as some would claim?
Consider: "From 1790 until 1913, the dollar lost 8 percent of its value. Since the Fed's creation in 1913, however, the dollar has lost (so far) an additional 95 percent of its value. Given that one of the Fed's mandates is to maintain price stability, such inflation is hardly evidence of successful performance. Clearly, the Fed has undermined the dollar's value."

Donald J. Boudreaux
Failed Fed
Pittsburgh-Tribune Review
November 26, 2010

Here's the link.

http://www.intellectualtakeout.org/c...ary_node=70313

The Fed is only one person in the evil Trinity of Tyranny enacted in 1913. The Fed, The Income Tax, and the 17th Amendment.

Yeah, I noticed the devaluation of the currency that was inflationary. that didn't really take off until after 1950's. a number of factors influenced the dollar inflation. The Fed and the minimum wage laws were a factor.

[acp5762]

Lot of people don't like hearing this but it's really true. The Fed is about as Federal as Federal Express. It's nothing more than an independant International Banking Cartel that has been running an elaborate Ponzi scheme since 1913.

[joe bloe]

Originally Posted by dilbert firestorm

that's not a rumor, its fact.

No kidding. He's sort of famous for it. I was being sarcastic.