Kasz216 said:
You'd never get a situation that goes on more then 10 years before Congress fucked it up.
The Feeral reserve exists, to avoid populist pandering that would only destroy the economy, advocated by polticians who can't even balance a checkbook let alone understand how the economy works.
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So you believe it's more of a practical issue of the existence of government being in conflict with the existance of a free-market fiscal system, inherently, and that is why we can't have competing currencies? I can agree with that, albeit I still think that if the opportunity arises in which it is possible to have a free-market in currencies, that it shouldn't be ignored. With the proper education on economics the government can stay out of the way.
Can you elaborate on the bolded? Do you mean it was a form of compromise between those who wanted to maintain decentralization (why we have regional Federal Reserve banks) and total centralization (the populists you refer to wanting this.) If that is the case, I don't disagree with that assessment, but nevertheless feel that compromising isn't always the way to go, and the damage done to the economic landscape by the federal reserve should be mitigated further, especially in a time when socialism and marxism are much less popular than they were in the Progressive Era.
