In Pursuit of Virtue – Fall Is Coming Edition
The Federal Reserve System needs to be dismantled, as it is exploitative corporatism that allows the State to pick winners at the expense of all holders of American dollars. Here are 10 reasons that any beginner can understand about why the Fed should be ended:
1. The Federal Reserve Has Far Too Much Power to Control Our Economy
2. The Federal Reserve Has Significantly Devalued Our Currency
3. The Federal Reserve Hurts the Poor and Middle Class the Most
4. The Federal Reserve is Run By Unelected and Unaccountable Bureaucrats
5. The Federal Reserve Has Made Our Economy Less Stable
6. The Federal Reserve is Far Too Secretive
7. The Federal Reserve Benefits Special Interests
8. The Federal Reserve is Unconstitutional
9. The Federal Reserve Routinely Bails Out Big Banks
10. The Federal Reserve Encourages Deficit Spending
Read the brief explanations behind any reasons you don’t understand here. If you do understand all of them, here are some of my additions you might ponder.
- The Federal Reserve Pushes All Citizens Toward Having a High Time Preference (which heightens occasions of crime, having children out of wedlock, drug use, etc.)
- The Federal Reserve Bails out Foreign Banks and Countries at the Expense of Americans.
- The Federal Reserve Distorts the Credit Market, the Insurance Market, Various Financial Markets, and the Distribution of Wealth.
- The Federal Reserve Dilutes the Currency in a Way that Means You Are Being Taxed without Knowing It.
- The Federal Reserve Existing Means that the Standard Definition of Socialism No Longer Applies – He Who Controls the Currency Has Complete Control Over the Means of Production.
[Edit: 10 things you should know about the Federal Reserve]
