Should the Federal Reserve be abolished? Is that even possible anymore?

Question

“Permit me to issue and control the money of a nation, and I care not who makes its laws!” The quote is attributed to Mayer Amschel Rothschild. “Who controls money control the world.” ― Henry Kissinger The Federal Reserve is a private bank owned by the international bankers. For decades they have collected interest on much of the national debt on money they created out of nothing. The used their right to create dollars to buy most of mainstream media.  With the media, they control who gets elected because anyone not approved is ignored by the media. By controlling the politicians they control public schools and even the colleges. Therefore, they control what most Americans believe. With so much power is it even possible to abolish the Federal Reserve?

Surely · Accepted Answer

Apparently someone has done a wonderful job of homeschooling you. Most college grads wouldn’t know to ask your question.
Over the years there has been talks to abolish the Federal Reserve. But money controls the world and they have lots! I believe that there is one family that actually controls the Fed. if you research it.
Let me ask you a question. Why do you want a college education to be a mother and housewife? You have more potential!

Sixgunsound · Accepted Answer

Should it be? Of course. Will it be? Unlikely short of a global societal collapse, which is probably its fault or plan to begin with.

abc3643 · Answer

This statement:
"The Federal Reserve is a private bank owned by the international bankers."
is false.

Where did you get such misinformation?

Learn to do "due diligence".
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The Federal Reserve System is part of the Federal Government and that is easy to see in its website URL which has a "Dot GOV" as a domain extension:
https://www.federalreserve.gov/

The Federal Reserve System, aka "The Fed", was created by the Federal Reserve Act, an act of Congress in 1913 to help prevent economic crises.

If you study basic macroeconomics, you realize a government has two tools to help regulate the economy:
1. Fiscal Policy
2. Monetary Policy

Fiscal Policy has to do with the raising and spending of money - basically taxation and budget. Congress controls that.

Monetary Policy has to do with the supply of money itself and setting interest rates. When the money supply is tight, that helps cool down an economy because interest rates get higher. When the money supply is not tight, interest rates go down, borrowing happens more, and the economy heats up.

Congress created The Fed to be a stable and more-or-less apolitical way to institute monetary policy. This is one reason why the Chairman of the Federal Reserve Board has a 4-year term but each of the 12 Board Governors has a 14-year term.

From The Fed's FAQ page...
https://www.federalreserve.gov/faqs/about_14986.htm
=====
Who owns the Federal Reserve?
The Federal Reserve System is not "owned" by anyone. The Federal Reserve was created in 1913 by the Federal Reserve Act to serve as the nation's central bank. The Board of Governors in Washington, D. C., is an agency of the federal government and reports to and is directly accountable to the Congress.

The Federal Reserve derives its authority from the Congress, which created the System in 1913 with the enactment of the Federal Reserve Act. This central banking "system" has three important features: (1) a central governing board—the Federal Reserve Board of Governors; (2) a decentralized operating structure of 12 Federal Reserve Banks; and (3) a blend of public and private characteristics.

The Board—appointed by the President and confirmed by the Senate—provides general guidance for the Federal Reserve System and oversees the 12 Reserve Banks. The Board reports to and is directly accountable to the Congress but, unlike many other public agencies, it is not funded by congressional appropriations. The Chair and other staff testify before Congress, and the Board submits an extensive report—the Monetary Policy Report—on recent economic developments and its plans for monetary policy twice a year. The Board also makes public the System's independently audited financial statements, along with minutes from the FOMC meetings.

In addition, though the Congress sets the goals for monetary policy, decisions of the Board—and the Fed's monetary policy-setting body, the Federal Open Market Committee—about how to reach those goals do not require approval by the President or anyone else in the executive or legislative branches of government.

Some observers mistakenly consider the Federal Reserve to be a private entity because the Reserve Banks are organized similarly to private corporations. For instance, each of the 12 Reserve Banks operates within its own particular geographic area, or District, of the United States, and each is separately incorporated and has its own board of directors. Commercial banks that are members of the Federal Reserve System hold stock in their District's Reserve Bank. However, owning Reserve Bank stock is quite different from owning stock in a private company. The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. In fact, the Reserve Banks are required by law to transfer net earnings to the U. S. Treasury, after providing for all necessary expenses of the Reserve Banks, legally required dividend payments, and maintaining a limited balance in a surplus fund.
============
https://www.federalreserve.gov/aboutthefed/bios/board/default.htm
The seven members of the Board of Governors of the Federal Reserve System are nominated by the President and confirmed by the Senate. A full term is fourteen years. One term begins every two years, on February 1 of even-numbered years. A member who serves a full term may not be reappointed. A member who completes an unexpired portion of a term may be reappointed. All terms end on their statutory date regardless of the date on which the member is sworn into office.

The Chairman and the Vice Chairman of the Board are named by the President from among the members and are confirmed by the Senate. They serve a term of four years. A member's term on the Board is not affected by his or her status as Chairman or Vice Chairman.

globetrotter22 · Answer

You are definitely getting some advanced home schooling if you are already talking about the Fed.

The Fed was created in 1913 to control financial panics. It was expanded in the 1930s during the Great Depression.

The problem is the Fed often works in tandem with presidential administrations which can be a conflict of interest. During the pandémic the Fed manipulated interest rates which led to massive overspending and printing of money for COVID relief bills (if build back better was passed this would of only gotten worse).

Akanzal · Answer

Yes we should abolish the Federal Reserve and bank notes (paper money). We need to go back to gold and silver coin currency. In the 1800s the banks started getting greedy and came out with bank notes and loaning out money and they actually didn't have in the vault. A lot of people don't know that all the banks don't hardly have any money on hand nowadays. Try to withdrawal a large amount in only cash from any bank, we had to do a house project and tried to withdrawal cash from my bank and they will not do any more than $1,000 at a time.

Adaeva · Answer

Absolutely, the federal reserve should be abolished.

“If the American people ever allow private banks to control the issue of their currency first by inflation then by deflation the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered... I believe that banking institutions are more dangerous to our liberties than standing armies... The issuing power should be taken from the banks and restored to the people to whom it properly belongs.”
― Thomas Jefferson

That is what is happening. The bankers have used their right to counterfeit money to buy mainstream media, they own the politician because few politicians can get elected if opposed by the media, and because they own the politicians they own the CIA, and the public schools and universities.

Losalt · Answer

You don't really understand what the federal reserve actually *does*...
A economy governed by politicians would be horrible, just look at the mess in Turkey right now...
And resource backed currencies is also a bad idea if you want to do international trade...
And if you think the quality of life that you are currently enjoying is even possible without said international trade then sorry, it's just not.
Switching to say a gold or silver standard while it might long term wouldn't put you in a cave it *would* lower your living standards significantly, both short and long term.
Indeed it would lower the living standards of everyone involved, both in the country using that resource backed currency and those trading with them.

Jamesshinobi · Answer

Yes and I dont save any federal reserve currency. i use bitcoin for everything i can amd convert and spend whatever i camt to pay my bills.

EnglishEuropean · Answer

Yes but unfortunately that can't happen in a world where central banks have more power than any government. For example, if any President moved to end the Fed they could simply threaten to crash the economy.

WilliamPamer446 · Answer

Good question buddy. I hope so. Look at my questions and I ask about this I think we can do our best to minimize it's negative effects and create stability and private message me for more of my opinions

AviatorTom · Answer

Your description is surely misinformed and misleading. The Federal Reserve us not a private bank owned by international bankers... where did you get that idea? It's there to regulate the money supply, provide a consistent means for banks to operate, and keep the economy healthy. Most countries have an equivalent organization.

No, it should not be abolished.

DWornock · Answer

The Federal Reserve is a private bank own by international bankers and was a criminal organization from the beginning.

WhitneySnow · Answer

This sounds like a conspiracy theory but I don't know for sure cause I don’t know much about the Federal Reserve

BungusHighFivePizza · Answer

i like when we change stuff 4 actual things back in da day like i have a goat and u got a sword i want sword u want goat

CaptainSmartass · Answer

I think it's the national bank that controls the currency and interest rates and suchlike. I'd say it shouldn't be abolished. It's not like a parliament (which IS unnecessary), so ditching it would cause a shitload of chaos.

Simples...

tartaarsaus · Answer

It has been accepted in the academic world that independent central banks, such as the Federal Reserve, are an unequivocally superior system to control the money supply relative to essentially anything else

With that, this question should be rephrased to: “do you want a worthless economy for decades to come or not?”

maximumpower · Answer

it has to do more with a country's economic system.
in case of the u. s. fed - it has its place and has truly saved our butt on several occasions..

read up on the rothschilds and why they think that way.

BillyBalls · Answer

There needs to be "a central bank" to control the size of the money supply. that being said, the Federal Reserve has become a political entity.

Anonymous · Answer

Tranny Kissinger has a husband lol as are all rothschilds trannies https://youtube. com/watch? v=Ps_UR3ZfjRo I don't know what to say, will my voice change anything?

Mangospacho · Answer

Yes, they can be abolished by simply awarding their contract to another bank. The problem is no other bank can handle the demands of the treasury department.

Anonymous · Answer

And now you know why the world is fucked and no one is doing anything about it.

joeldalton · Answer

Would never be possible to abolish it without razing everything and starting over.

Snakeyes7 · Answer

It needs to go ASAP before the dollar is printed into oblivion.

OddBeMe · Answer

1) if it were, who would do their jobs? 2) do you even know what the Fed does?

Dargil · Answer

Yes and Yes.

IsoUser · Answer

No Offence, but most of you have eaten to much lead paint during the 60's and 70's for all of your conspiracy theories and theorists to be true.

Anonymous · Answer

Misspell of mayor

In_Trance · Answer

the Federal Reserve is a private entity.

Should the Federal Reserve be abolished? Is that even possible anymore?

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Should the Federal Reserve be abolished and a gold-and-silver standard reinstituted?

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