PaulConventionWV
09-29-2011, 06:38 PM
Ok, so I am doing a senior thesis paper, and the theme of the paper is, if we held a Constitutional Convention today like in 1787, what would we try to incorporate in order to improve our political system. So, I determined that my theme was the central bank. If there's anything we want to rid this nation of, it's the Federal Reserve. They are truly the bane of liberty. Jefferson thought they were worse than standing armies.
So, this isn't due for quite a while, but since I am here, I was thinking I would throw the question out to you guys. How would you guys ensure that we never have a central bank? Remember, the original Constitution already forbade counterfeiting money, which should have been enough to prevent the Federal Reserve.
However, at this new Constitutional Convention, I am a delegate and I need to find a way to change the system somehow so that it ensures we never have a central bank. How would you incorporate that into the Constitution. This has two sides to it:
1. How would you write it into the Constitution to ban the IDEA of a central bank?
2. How would you change the system overall in a PRACTICAL manner in order to make sure the central bank never comes about? There must be a way to make it more likely that it doesn't arise, such as a clause in the Constitution forbidding the communications between banks of the USA and another nation.
In general, how would you make sure that a central bank never arose under a new system with a new Constitution if we were to have a Constitutional Convention today? Let me know if you are having a hard time with the question.
I am going to spend a lot of time explaining how the Fed operates and explaining inflation, the business cycle, etc. so I will have plenty of opportunities to tell my professor how it works, but I'm looking for a practical way of keeping it out of the system altogether. Any clever ideas?
So, this isn't due for quite a while, but since I am here, I was thinking I would throw the question out to you guys. How would you guys ensure that we never have a central bank? Remember, the original Constitution already forbade counterfeiting money, which should have been enough to prevent the Federal Reserve.
However, at this new Constitutional Convention, I am a delegate and I need to find a way to change the system somehow so that it ensures we never have a central bank. How would you incorporate that into the Constitution. This has two sides to it:
1. How would you write it into the Constitution to ban the IDEA of a central bank?
2. How would you change the system overall in a PRACTICAL manner in order to make sure the central bank never comes about? There must be a way to make it more likely that it doesn't arise, such as a clause in the Constitution forbidding the communications between banks of the USA and another nation.
In general, how would you make sure that a central bank never arose under a new system with a new Constitution if we were to have a Constitutional Convention today? Let me know if you are having a hard time with the question.
I am going to spend a lot of time explaining how the Fed operates and explaining inflation, the business cycle, etc. so I will have plenty of opportunities to tell my professor how it works, but I'm looking for a practical way of keeping it out of the system altogether. Any clever ideas?