The Fed has to much power over our economy. They have the power to cause stagflation, inflation, and even cause a depression if they wanted too. They control how much money is in circulation, the interest rates, and regulations on banks. The worst part is that they are not regulated and don't know what they are doing. The several depressions they caused are is prove that they do not know what they are doing. "Since the Federal Reserve came into existence in 1913, the dollar has lost over 95 percent of its value. Today’s dollar is worth less than a nickel compared to the pre-1913 dollar." (Borowski, Top Ten Reasons to End the Federal Reserve.)
The Fed has also trapped the United States government into perpetual debt. The Fed gives loans to the government so that it can continue to run, but it charges interest on those loans. "All of the great public works cost more than twice the actual cost, on that account. Under the present system of doing business we simply add 120 to 150 percent, to the stated cost." (Durden, 11 Reasons Why The Federal Reserve Should Be Abolished) This means that if the government took out a loan for 30,000 they would have to pay 15,000 dollars back just in interest, never mind what they actually loaned. This then causes the government take out more loans to pay off those loans while continuing toto have to pay to run the daily activities of the government.
Finally, the Fed does not look out for the people of America. It is a private business, with a goal to produce large amounts of money for themselves. They look out for corporations more than US citizens. "Our hard-earned money is essentially stolen through a hidden inflation tax. Inflation is the increase in the supply of money and credit. It is often wrongly defined as the general rise in the price of goods and services. But higher prices are actually a direct consequence of inflation since increasing the supply of money decreases the purchasing power of the dollar. Inflation hurts the poor most since they have less disposable income. Consumers with low disposable incomes will be negatively impacted by higher prices for food and clothing." ( www.washingtonexaminer.com) This is all done because of the Fed. If we did not have the Fed we would not have to be taxed as much in order for us to get out of debt. The Fed no longer be helping increase inflation instead of lowering it. Overall the Fed is bad for the US economy and needs to go.
Finally, the Fed does not look out for the people of America. It is a private business, with a goal to produce large amounts of money for themselves. They look out for corporations more than US citizens. "Our hard-earned money is essentially stolen through a hidden inflation tax. Inflation is the increase in the supply of money and credit. It is often wrongly defined as the general rise in the price of goods and services. But higher prices are actually a direct consequence of inflation since increasing the supply of money decreases the purchasing power of the dollar. Inflation hurts the poor most since they have less disposable income. Consumers with low disposable incomes will be negatively impacted by higher prices for food and clothing." ( www.washingtonexaminer.com) This is all done because of the Fed. If we did not have the Fed we would not have to be taxed as much in order for us to get out of debt. The Fed no longer be helping increase inflation instead of lowering it. Overall the Fed is bad for the US economy and needs to go.
Cited:
http://www.washingtonexaminer.com/boring-but-bad-the-problem-of-the-federal-reserve/article/2538212
http://www.freedomworks.org/content/top-10-reasons-end-federal-reserve
http://www.zerohedge.com/news/2013-05-07/11-reasons-why-federal-reserve-should-be-abolished
http://www.zerohedge.com/news/2013-05-07/11-reasons-why-federal-reserve-should-be-abolished
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