What would happen if we abolished the Federal Reserve?

>>1680290
>we

>>1680290
You aren't going to counter everything with something about Rothschild/ Jewish conspiracies are you?
If so, tin foil hat club is over there >>>/pol/

>>1680290
Gg economy when the next recession hits
>inb4 retards who don't know how it works going on about muh printing money

>>1680290
it would be a bad idea to abolish it, but the fact that fed reserve is privately owned and it's a fucking secret who is in it is a big big no-no.

It would be like the American colonies prior to the Revolutionary War. Which means, very little would happen.

>>1680290
There has to be a nationalized bank that isn't privately owned. When printing currency loaning it into existence is a terrible way to go about distributing it for a number of reasons.

Currency should be spent into the economy using public works (roads, sewage, telecomm infrastructure, etc.) so that the workers get paid to build things a whole society benefits from.

Currently, when a dollar is created it has inherent debt built into it. Meaning that there is no way for the debt to be paid back unless more dollars are printed, this is a cycle that continues until the system collapses under its own weight.

>>1680290
Nothing because nobody listens to you

faggot

>>1680343
This.

>>1680351
What do you mean it's a secret who's in it? Everyone knows the Fed presidents. Be more specific.

>>1680371
t. economic illiterate

>>1680445
>Everyone knows the Fed presidents. Be more specific.
yeah but who are the shareholders? who the fuck cares about that she-monkey?

>>1680482
Pls be bait

>>1680482
>she monkey
I meant the regional presidents, but I guess I can see why the shareholders could be a problem. Still not an argument against private ownership.

>>1680516
Are they known? I'm too lazy to verify a non-argument.

>>1680562
>A member bank is a private institution and owns stock in its regional Federal Reserve Bank. All nationally chartered banks hold stock in one of the Federal Reserve Banks. State chartered banks may choose to be members (and hold stock in their regional Federal Reserve bank), upon meeting certain standards. About 38% of U.S. banks are members of their regional Federal Reserve Bank.[73] The amount of stock a member bank must own is equal to 3% of its combined capital and surplus.[74][75]

>>1680571
So pretty much people we dont know rules our international nationwide wealth.

>>1680594
They don't "rule" the system, jesus fucking christ.

If they really wanted an oligarchy, they wouldn't do any monetary easing whatsoever and have a few big banks buy all of the assets of the country back for pennies on the dollar, as the average american had their pension plans go down to zero and be forced to work until they die.

Getting rid of the Fed doesn't mean the economy is suddenly "independent," then the economy just becomes reliant on the next largest central bank, probably the ECB. The IMF might even step up and take a role in international finance.

>>1680290
We would have less bubbles in our economy. The Fed itself creates bubbles by maintaining interest rates that are not equal the market equilibrium. In order to stabilize our economy, they create bubbles and devalue our currency.

>>1680594
They don't. These shares are not normal shares. They don't entitle voting rights and the Fed is under no legal obligation to serve it's shareholders. The only thing they do is let banks choose a minority of the board of directors and pays a 6% dividend. The fed earns about a 100 billion a year and gives 2 billion in dividends.

Neither do they own it. The fed is the bank's bank. They made a decent amount of money loaning to banks and have never been a deficit on the taxpayers.

Contrast that to the government choosing 2/3rds of the board of directors, the treasury secretary, all the highest positions in the fed and having full legislative control.

The economy would be JUSTed back to how it worked hundreds of years ago.

End the Fed is the easiest way to spot retards.

File: 1482269358361.gif (85KB, 501x585px) Image search: [Google]

85KB, 501x585px

Bank runs, no banking regulations, rampant Jews.

>>1680290
Classical economics takes over. Perhaps things stay the same. Perhaps we see the largest period of economic growth the world has ever seen followed by a 50% unemployment rate and the complete destruction of the global economy. It's like 50/50. We might just go back to having scares. You gotta understand why the Fed exists to understand what would happen without it. It could be nothing. It could be the Greatest thing the world has ever seen in prelude to the end of humanity. It could be some bullshit in between.

>>1680290
It would make monetary policy political. Something you don't want.

"Auditing the fed", as paulbots would see it, would also have the same effect basically.

>>1680290
>ID: fXgRN4WC
>1 post by this ID

why does this shit work everytime...

>>1681182
rude