What are the downsides to ending the Fed?

Just wondering since i'm not an economist and all I ever notice are people saying that the Fed is bad and needs to go away.

So what would be the downsides, if any and what affect would it have in the short and long terms on the U.S. economy. I assume it wasn't created just to give the bankers power so there had to be a legitimate reason for it's creation.

The Fed, was created mainly in response to the Panic of 1907. The power to issue currency was foolishly given to a number of private bankers. If the Fed was run and overseen by a branch of the Gov. it would be OK, but it is not.

The problem is the Fed taxes The USA on the issuance of its own Currency!

reply to post by kro32

According to the dem's and most republicans, the rapture. The government wouldnt be able to pass stimulus bills. They couldn't print anymore money out of thin air. The gold standard would force them into financial compliance. There is no down side for the little man.
I would disagree that the fed was created over panic. It was created to control this country by the world bank, whom attempted to assassinate T Jefferson when he stopped them on their 1st attempt to get a foot hold in this country. Someone said,"Give me control of a nations money and their laws will mean nothing."
I know this bloodline has always been a part of this world monetary fund. Rothchild or Rockefellar 1 said it.

Then the WTO would take over and
through the UN the overwhelming majority of
comunist and Islamic countries would determine our financial policy.


David Grouchy

Please read my topic.... I just don't talk about how german deserters were related to as... just check out my long title I couldn't fit..Just watched a show about the Wehrmacht during WW2 and how deserters were related to as "terrorists" sound familiar? Would you be willing to step up for your beliefs? Please respond.... I want to talk to you guys about the possibility of rescuing our country even though we might be labled as terrorists... Do you want our Republic to turn into a Capitalist State?

the federal reserve does more than just print money they set the rates for ever loan and credit user in this country.

the upsides? a dollar would be worth something as opposed to worth as much as a piece of toilet paper right now.

another upside banks could compete with each other thus lower the costs for the borrowers and users of those financial services and with that competition better quality of service.

so theres 2.

if something isnt done with the fed someday rather soon your are going to need a 50 ft semi loaded with money just to buy a loaf of bread.

all anyone has to do is look up the weimar republic and understand the dangers of hyperinflation.

When I can think of one, I'll let you know. There are no "financial panics" that the Fed is necessary for addressing; that was just a scare tactic concocted by the bankers to get the people to accept their agenda.

There wouldn't be any downsides to ending the Fed if it was done properly. If you nationalize it or end it abruptly then you'd wreck the entire U.S economy.