cutting the fed out sounds great for the most part. The problem I have is that it involves wallstreet at all. I could see this turning for the worse. whats worse than 1 federal reserve? 50 federal reserves. I could see when one state bank defaults another state would buy it up. that could cause a lot of problems. Im no expert on money (and neither is anyone in the US now) but this could be a step in the right direction that could go wrong
Points well taken – I guess it just seems that having the power less concentrated (as it is today) in the hands of small and secretive few would be better either way you look it at. Even if the states end up mismanaging their own money at least it would only affect each state making the errors, rather than the entire country at once.
cutting the fed out sounds great for the most part. The problem I have is that it involves wallstreet at all. I could see this turning for the worse. whats worse than 1 federal reserve? 50 federal reserves. I could see when one state bank defaults another state would buy it up. that could cause a lot of problems. Im no expert on money (and neither is anyone in the US now) but this could be a step in the right direction that could go wrong
Points well taken – I guess it just seems that having the power less concentrated (as it is today) in the hands of small and secretive few would be better either way you look it at. Even if the states end up mismanaging their own money at least it would only affect each state making the errors, rather than the entire country at once.
Very interesting. Thanks for sharing this.