Pros And Cons Of Abolishing The Federal Reserve

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To Rout In the past, some self-proclaimed ‘elite’ humans have sought to enslave the general populace in some form or fashion; initially with feudalism and divine right to rule, then slavery, and now private central banking. It is by an “enslavement of the people by creation of a false sense of obligation” (Rivero) that the Federal Reserve rules. In the past, the response to this slavery was to abolish it, and not accept it anywhere. The Federal Reserve, America’s Private Central Bank, is no exception to this generalization, and should be abolished for the three simple reasons; it loans paper and ink to a government at interest, it does not properly control this money, and the interests accrued by these loans weigh heavily on the general populace. The first reason the Federal Reserve should be abolished is simple, it loans paper money to the American government for interest. The reason this is bad is threefold. It creates inflation, or the devaluation …show more content…

The money not being back properly causes two issues that both compound each other. First it allows a private bank to print as much money as it desires thus weakening the existing dollar. The other reason is the loss of stability of this paper dollar in the world market. And as the dollar becomes weaker, the government needs more of this paper money so the Federal Reserve print more for it, thus continuing the cycle. However, the Federal Reserve states that the Federal Reserve Note is backed by something; the US government or oil. They also state that the government should not have the power to print its own money. The following is an excerpt from Michael Rivero’s “All Wars are Bankers Wars,” and was adapted from an article in the London times in response to Lincoln issuing the Greenbacks. It echoes the thoughts of supporter of the Federal Reserve in regards to the US government printing its own

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