Re: \"He who makes the money - makes the rules\"
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What if the FR was controlled by Congress and wasn't allowed to make profit - i.e. it ceases to be a bank and instead is responsible solely for controlling the amount of money in circulation.
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Come ON, man.
Think about this logically. If the FR a government-run program, it will serve the needs of the government. You can say you want the FR to "not be allowed" to make any more money, but for something to "not be allowed" to do something, there has to be something stopping it. What would be stopping it in this case?
Congress. The very same thing that is controlling what it does.
If the state runs the Fed (similar to what we have now, except it's kind of the other way around), and Congress wants more money for a government program, and doesn't want to increase taxes and piss off the people, what is there to stop the Fed from simply printing more money? You cannot create a throne of power, give it limitations that only it can enforce over itself, and not expect it to do what it wants.
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Are depressions caused solely by inflation? - goods/services will always cost as much as the market will pay - so how can you get rid of inflation?
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You're one of those other "libertarians," aren't you?
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