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View Full Version : Who says you gotta have a central bank?



Mattsa
05-19-2007, 12:31 PM
This is a very interesting article on Banking in..........PANAMA! of all places

And this just goes to show, if you take away monopoly control of the banking system from the Federal Reserve, the sky wont fall on your head!

This is a real eye opener!

http://www.mises.org/story/2533
qednick
05-19-2007, 12:37 PM
What a fantastic find... you should email it to RP's campaigners - perhaps they can use it to prove their points.
Mattsa
05-19-2007, 01:28 PM
What a fantastic find... you should email it to RP's campaigners - perhaps they can use it to prove their points.

Ron Paul is an advocate of the Von Mises Austrian economic model so he will be very familiar with the banking system in Panama

The central banking system is an aberration. It is designed to transfer wealth away from the working population to the rich. This is what has happened in the USA and England

They've played their hand beautifully in the UK. People think debt slavery is a necessary evil............when it most definitely isn't!
billv
05-19-2007, 04:18 PM
Alan Greenspan, the Maestro, himself advocated for the gold standard in the late 60's.

Here's his paper: gold and economic freedom,
http://www.usagold.com/gildedopinion/greenspan.html
qednick
05-19-2007, 05:22 PM
Yeah, but didn't he change his tune once he because head of Fed?
Gee
05-19-2007, 06:26 PM
Yeah, but didn't he change his tune once he because head of Fed?
Not really. He did say he thought a properly managed bank could more or less simulate a gold standard, but was still "naustalgic" about the gold standard. I believe he said he was the only one on the Fed board which felt that way, though.
retrorepublican
05-19-2007, 06:43 PM
And in US History I at my high school they try to teach us that the first Depression in the US occured because of the abolishment of the federal bank. HAH!
eduardo89
06-09-2009, 07:31 PM
That article is a great read
Kotin
06-09-2009, 07:36 PM
sucks that their free market has to be tied down by our dollar..
Dieseler
06-09-2009, 08:44 PM
Congress could pay off the Fed with the stroke of a pen but then they would have to earn their pay from that day out and if they wanted to make more than what they had coming they would have to get out and earn that to.
Too much work.
They like it the way it is now.
Get elected, play the game and get paid.
It is just a game, ya know.
idiom
06-09-2009, 09:07 PM
That article is promoting the idea that a fiat currency can behave as sound money. If that is true then a Central bank could behave that way if it wanted to.
hugolp
06-09-2009, 11:17 PM
That article is promoting the idea that a fiat currency can behave as sound money. If that is true then a Central bank could behave that way if it wanted to.

I have no problem with FIAT currency as long as I can choose not to use it. The real problem is the monopoly over money that the goverment has granted to the FED. If the FED was just a bank that could issue notes and people could reject them if they wanted to, then there would be no problem (and the FED would go quickly out of bussiness).