does anybody here think that congress should take back the right to print money from the federal reserve?

Question

fyi the federal reserve is a privately owned bank and they basically control every aspect of our economyby controling interest rates and the amount of money in circulationddoes anbody think that a fderal organization shoul do this and not a privately owned bank?

Answer 1

The Federal Reserve sets interest rates and controls the money supply; they control how much money gets printed, but don't actually do the printing. That's done by the US Bureau of Engraving and Printing, a division of the Treasury Depart.

If you don't think the FR shouldn't do its assigned jobs, who should? Someone has to make the decisions, in the US it's the FR, in other countries it's their central bank, which performs many of the same functions as the US FR.

Whether the current board of the FR is doing a good job is a completely different thing. You may not like what they're doing, and you can express your opinion to your senators & the president (he nominates the board members, they approve), and try to get people in there more in tune with your "vision" of how the economy should be run. But there will still be a Federal Reserve Board.

Answer 2

Yes, in the absence of a national currency the market will supply one.

Answer 3

Amen brother! Lets go back to the gold standard.