Thoughts on Federationist.org?

[He Who Pawns]

I watched one of the videos put out by this organization, which was arguing along the same lines as Schiff. So I checked out their website and I pretty much agreed with their entire platform:

http://federationist.org/platform.html

What do you guys think? It's very similar to libertarianism, except maybe stronger against illegal immigration, etc.

[ssdded]

Are The Federationists a supporter of the movement to "Ban The Fed"?
No. Our position is that focusing on the presence of The Federal Reserve misses the point and is diversionary. Our current economic issues have resulted from an excess of credit in the system, not from an excess of money. Further, the worst abuses of The Federal Reserve are already unlawful under the black-letter law of The Federal Reserve Act of 1913; Congress has refused to enforce the law. Lawbreaking does not demand more law, it demands enforcement of existing law.

Are The Federationists a supporter of a return to "hard money"?
Not necessarily. Fiat currency is, as noted above, not the cause of our present economic problems. Those who argue for a return to "hard money" (gold and silver based currency) must square their opinion with the Depressions of both the 1930s and 1873; both occurred while The United States was on a "hard money" system. There are serious problems with basing currency on "hard money" with the most sensitive of them being building yet another dependence on foreign sources of raw materials, especially Gold, in order to grow the monetary base.

If they mandated a 100% reserve requirement for demand deposits, while certainly not ideal, their way of thinking would be an improvement. Somehow, I doubt they'd do that, though...


“Banking” shall be defined in law as the taking of deposits and/or the making of loans via the utilization of fractional reserves and as such is inherently an extension of the Constitutional power to coin and regulate monetary supply.

[t0rnado]

Banking shall be recognized as a public utility function delegated by government and strictly regulated for safety and soundness, with reserve ratios, periodic examinations and audits all accessible to the public. Any organization engaged in this function shall further be absolutely barred from speculation or trading in public or private markets by statute, whether directly or indirectly. Such limits existed until the 1990s in the form of Glass-Steagall; we explicitly support and demand that the dismantlement of this law be reversed.

Similar to communism

[nate895]

For supporting Glass-Steagal, we are going to have to excommunicate you from the Liberty movement. J/K, you obviously didn't read all their platform.

[He Who Pawns]

I did not read the whole thing, sorry. I kinda skimmed through it.