The Federal Reserve is a private entity governed by private/corporate interest! Should we the people abolish it?

We need to go back to having dollars represent gold or silver that is sitting in the bank - something that has an actual value attached to it, thus, much less inflation and false dollar amounts.

the federal reserve can print a dollar but then says it wants 1.05 back. That five cents doesn't exist!!! We are all in debt to this private bank! That's why they can just create money out of thin air. Congress has no oversight and for anyone to think otherwise can just look at how much of a fight the fed is putting up towards congress transparency bill.

The federal reserve is a private entity that is debasing the U.S. dollar. It has been doing so for quite some time every since the U.S. got off the gold standard - a policy that allowed for an audit of how much money in the money supply. By abolising the gold standard with Bretton Woods this gave the U.S. Federal Reserve the ability to print money without having a system in check. The system until a couple of years ago, was the M3 - a document detailing how much money has been printed. However, they abolished the m3 a few years ago.

In the Federal Reserve's most recent Fiasco we had it threaten Congress if they didn't bail out the Wall Street Banks from all the toxic CDOs/paper we'd have the next Great Depression. The result, Congress bought into the fear mongering and now we have trillions of tax payer dollars that have bailed out these unscrupulous banks. Worse yet there's no way to audit the paper trail of that money. Congress has asked the Federal Reserve to show where the money has gone to, how much, and how it's being spent. You want to know what the Federal Reserve's response? We don't know and we we're not telling.


When the Federal Reserve issues Federal Reserve Notes (the currency you're using) it's a loan to the U.S. government which must be paid in interest! That interest doesn't even exist. It's coming out of thin air and places a burden on the government - its a parasitic relationship. If you ask me, the U.S. government needs to start issuing it's own currency which it controls, audits, and backs with gold/silver. This would get mitigate and to a certain extent get rid of inflation.

So who controls the federal reserve? Private interest with an agenda so grand and out of the context of this answer that you need to watch the following.

http://www.sprword.com/videos/moneybanking/

ok, then who will be saving the economy when shit happens?

What would you suggest to take its place and who would pay the cost?

If you read the Federal Reserve act there is a clause stating the Federal Reserve can be bought out for $450 million dollars gold. Congress will never do this because they would be cutting off their nose to spite their face. In otherwords they would personally be loosing money!

Actually it's a private entity governed by the US Treasury and through them the US Congress, and therefore the people.

of course we should. We need a whole new monetary policy. I bet they will use this financial crisis and the fall of the dollar to introduce the amero.