« on: June 16, 2008, 09:59:04 AM »
I haven't logged in here in months, but I had to join this conversation because it is something that has been bothering me lately. While I would love to say that our country will always need lawyers, and in abundance, part of me is still worrying about our future.
I do have to say that I agree with everything previously stated. It is not a question of when we will fall but how far..
Don't you think that the Federal Reserve, which just prints money at will with no value behind it, is the main source of our problems? Sure, the fact that our military has troops in 130 countries is not helping our deficit spending, but I think that if the dollar was still on the gold standard, we would be in much better shape than we are now. For example, these stimulus checks have me really pissed off. So, we're just supposed to take this money and go spend it immediately? Where do billions of dollars come from to pay from those checks?? Ohh, thats right, it comes from the weakening value of the dollar itself.
What do you think about this??
I totally agree with you. Abolishing the Federal Reserve doesn't seem to be a topic that most people consider up for debate. But really, how much more undemocratic can you get than giving a private bank the power to print money and inflate currency at will? The Fed's inflationary mechanisms are essentially taxation without representation. Our purchasing power is being eroded because prices are rising but wages are not keeping up. Rising oil prices are only worsening inflation that is already the inevitable result of the Federal Reserve's monetary policies.
I'm a fiscal libertarian. I don't believe in tinkering with the economy, and that includes the corporate bail-outs of which our so-called "conservative" administration is so fond. The longer we postpone the fall, the worse it's going to be.
P.S. I don't have an economics background, so feel free to correct me if anything I've said is wrong.