If All Republicans follow the economics of Milton Friedman?
why are they not for the abolishment of the federal reserve as Milton Friedman was?
a bush family member, Panama has one of the best banking systems in the world, without a central bank.
SFC_Ollie- I am saying if you subscribe to a certain economic theory, you should not subscribe to parts that go completely against that economic theory.
bush family member- did you just say what I think you said? They are responsible for stopping inflation? LOL!!!!! Go look at CPI numbers since the fed reserve has been in place. Man you kids get 0 education nowadays...
bush stop talking you dont even understand the first thing about central banking. First of all, it is not public, our central bank is private.....
I cant believe you are using that disinfo troll's quotes as fact. Gray shadow has been thoroughly spanked by anyone who has any knowledge of monetary policy. Fed reserve notes can be replaced by gold and silver certificates as they used to be. Lord forbid we dont have federal reserve notes. lol. And if banks dont have a lender of last resort then they need to be more prudent in their actions. There should be no such thing as lender of last resort. The fed was created for nationwide coordinated inflation. It is nothing but a bank cartel.
Mety- dont get me wrong, I am not the biggest fan of Friedman, as I am a follower of the austrian school, and not the chicago school, but since most republicans are monetarists, I would like them to know that the founder of the school was against the fed.
And the worst booms and busts happened under the watch of the federal reserve. If you knew anyhing about monetary history, you would know that booms and busts occur not because of the free market, but because of the absence o the free market.
Mety- I dont like Naomi Klein though, she is an anti-capitalist. In so many words, she doesnt have a clue. Ive read alot about the book and I dont like her views....
Like I said you need to stop talking , you see are making yourself look bad. I never said we can go back to a gold standard right now . The fed has inflated our currency too much . However we can start by allowing competing currencies . And never in the history of the world have we had a 15 year depression, like we've had under the the fed , and the sharpest drop in gnp happened in 21 under the watch of the fed
When did I mention zeitgeist? I know zeitgeist is misleading, because all the interest goes back to the treasury. Thats not the point of the fed, the point is for inflating as a whole.....
And you really dont understand monetary policy and history, please dont tell me Im wrong when ive studied this many times more than you have.