Markets should pay attention. This liquidity is a painkiller, not a cure. Ultimately you don’t start by ending the Fed, you start by competing with it, or opting out of it. ( Log Out / Markets: DJIA + 248.74 0.83%. Chaos ! These farmers were tired of having banks in cities like Minneapolis and New York control who gets loans and how much they get. https://www.activistpost.com/2011/05/5-alternatives-to-federal-reserve.html A Public Bank is exactly what it sounds like, it’s a state, city or county run banking system that uses loans to funds more community based banks or credit unions at lower interest rates and uses that interest to fund public projects and utilities for everyone to benefit from. Otherwise we are just trading one monopoly for another. 4. How Jim Rogers would replace the Federal Reserve In Jim Rogers' ideal world, central banks would virtually disappear and we would return to a system of 'free banking'. She is the founder of Money Strong and the author of Fed Up: An Insider's Take on Why the Federal Reserve … The Federal Reserve Board was created to control, regulate and stabilize credit in the interest of all people. The solutions rest in exactly the opposite of consolidation: currency competition. Just as the Patriot Act followed the terrorist attacks on 9/11, economic crisis led to the passing of the Federal Reserve Act of 1913.The Panic of 1907, also The Elites May…, The COVID Vaccine Is Here … And So Are Potential…, No Privacy, No Property: The World in 2030 According…, Charity Builds Dozens of Tiny Homes for the Homeless…, James Corbett on COVID-19, The Great Reset, and…, powerful weapon to remove Taliban control, HR 1098: Free Competition in Currency Act of 2011, How To Survive the Job Automation Apocalypse, How To Get Started with Bitcoin: Quick and Easy Beginner’s Guide, Automakers Ask U.S. Dept of Transportation to Make It Easier to Deploy Autonomous Vehicles That Will Eliminate Jobs, Grow Your Wealth Outside the Rigged System, Cryptocurrency Investing and Bitcoin News, Check out Activist Post's Polls on LockerDome. For this, the Federal Reserve Banks created a telegraph network to transfer funds between member banks. Ron Paul could introduce a bill to end the Federal Reserve System. The Federal Reserve could make a huge difference in the working lives of African Americans by targeting the black unemployment rate. Change ), You are commenting using your Google account. Bob Chapman International Forecaster Feb 17, 2011. This site uses Akismet to reduce spam. NASDAQ + 87.04 0.70%. Answer Save. 5. Despite their loss in 2019, they took the momentum of their movement and won on a state level to legitimize a Public Bank in California! Interest-Free Treasury Dollars: Interest-free money issued directly by the Treasury, reminiscent of Lincoln’s Greenback, would basically remove the for-profit middleman — the Federal Reserve. Replace the Federal Reserve Altogether A Good Idea. He also indicated that he could replace Yellen as chair of Federal Reserve. The government needs to keep an eye on the federal reserve. The first thing to do in getting rid of the Fed is for Congress to repeal the 1913 law —and the subsequent amendments—that set up the current Federal Reserve. Tucked away deep inside the Fed’s founding law is a provision Trump could use to completely rebuild the Federal Reserve Board of Governors. The US dollar is also the world reserve currency for weapons and is used to fund — with political, economic and literal interest — both sides of all wars. What has to be done? Perhaps it won’t end until it merges into a global bank with a universal currency. B. make an open market purchase. President Trump has been attacking the Federal Reserve and its chairman, Jerome H. Powell, because he is angry that the central bank’s efforts to … As the world’s reserve currency, Federal Reserve Notes determine whether people can afford to buy food and fuel on a global scale through commodity price inflation resulting from a devalued dollar. Alas, U.S. Treasury monopoly of currency has been just as problematic, in U.S. history, as Federal Reserve monopoly. Rather than have designation to what the Fed is doing we believe to a great extent the term quantitative easing will fade from the major media and Fed announcements, probably to be replaced by a term such as accommodation. You may be shocked when you learn the Fed’s true purpose. As I wrote in December, the first step is to end the Fed’s monopoly power by legalizing competing currencies: HR 1098: Free Competition in Currency Act of 2011 will essentially do three things: 1) repeal legal tender laws to remove the monopoly control of the Federal Reserve, 2) legalize private mints to issue coins to be controlled by anti-fraud and anti-counterfeit laws, and, 3) remove taxes from precious metal coins to ensure fair competition among new currencies. The development of the TDF is a matter of prudent planning and has no implication for the near-term conduct of monetary policy. The Federal Reserve Board is the most gigantic financial power in all the world. The job of slicing up the economic pie in the U.S. has traditionally fallen to Congress, with the Federal Reserve tasked with making sure there is enough to go around. We issue it in proper proportion to make the products pass easily from the producers to the consumers. Regardless of whether the Federal Reserve does it, or some other agencies, the functions provided by a public central bank are fairly vital to a robust economy. Public Banking Can Replace the Federal Reserve Posted on November 2, 2020 So if a Centralized Private & Corporate Bank like the Federal Reserve isn’t going to work because of its war crimes, laundering cash for fascists and ensuring the working class stays indentured and impoverished, what is a better solution to the problem? Many local food cooperatives are starting to implement this type of quasi-underground economy based on credits, sometimes tied to currency for easy valuation. The community of people are the shareholders not some James Bond villain in an ivory tower! The euro could replace the U.S. dollar as the world's primary reserve currency, a German magazine quoted former Federal Reserve Chairman Alan Greenspan as saying on Monday. After all, consolidation of the world is clearly being expedited. Monetary reform is so vital that it may be precisely what propels Paul into the White House, assuming he gets in all the debates, on all of the ballots, and has an army of computer forensic experts to appeal shady voting machines — which are inevitable challenges in our so-called democracy. Today they’re Obama’s wars, and the Fed is one of the most disliked institutions around, taking daily abuse even from mainstream outlets like CNBC. gray shadow. E. increase income taxes 1 decade ago. Many of these currencies have been set up in defiance of the debt-based money system and resemble a barter system. It lured the nation into the lobster trap of debt — debt undergirded by Federal Reserve fiat money and congressional deficits — and the country cannot see a way to get out on a pain-free basis. Public Banking Can Replace The Federal Reserve! The US election is still more than a week away, but speculation about who might lead the Treasury Department under a Biden administration is already in full swing. These local tender will obviously face challenges of interstate trade and are, depending on their structure, still somewhat at the mercy of a devaluing U.S. dollars. delegated this power to the banks. The Federal Reserve Board of Governors in Washington DC. Simply put, barter is the voluntary exchange of goods and services for other goods and services without the need for currency. Seven are Governors appointed by the President, one of which is the Chairman. Tucked away deep inside the Fed’s founding law is a provision Trump could use to completely rebuild the Federal Reserve Board of Governors. Several communities have adopted alternative paper currencies to stimulate local trade. Federal Reserve Chairman Jerome Powell testifies before the Senate Banking Committee hearing on “The Quarterly CARES Act Report to Congress” on Capitol Hill in Washington, December 1, 2020. . Answer Save. Section 19(b)(2)(A-D) of the Federal Reserve Act is hereby amended to raise the Reserve Requirement ratio for financial institutions, in equal monthly increments of eight and one-half percent (8.5%), to one hundred percent (100%), during the said transition period. Because money is completely eliminated from the equation, barter naturally replaces money as the method of exchange in times of monetary crisis. The Federal Reserve, the central bank of the United States, provides the nation with a safe, flexible, and stable monetary and financial system. One way to utilize this power of the banks for the good of the local community is to support credit unions, or by creating state banks modeled after North Dakota. Anyone who has even a remedial education about the Fed knows that nearly all of America’s economic woes can be directly tied to the fraudulent monetary system run by this private monopoly. WASHINGTON (AP) — President Donald Trump’s unorthodox choice for the Federal Reserve Board of Governors, Judy Shelton, could be approved by the Senate next week, Majority Leader Mitch McConnell’s office said Thursday. Like Reply. Now they have been brought in line with the cartel at the barrel of a gun, and next comes the wonderful IMF we-own-your-ass loans. Relevance. Here's how. NO. Change ). Sec. Most of it goes to replace mutilated or outdated bills. Credit unions may be structured differently depending on the institution; however, they all seem to loan only to depositors for local projects or businesses. What made Kennedy’s plan even more secure is that his interest-free money was to be backed by silver bullion in the Treasury. Report Post. But what do we replace the Fed with before it’s too late? Some doubters may be mesmerized by dollar worship with little chance of seeing an end to the system before it’s too late. Barter systems are quite easy to set up and manage these days utilizing the Internet. As the chair of the Federal Reserve from 2014 to 2018, Ms. Yellen also oversaw an extremely slow set of interest rate increases as she and her colleagues tested whether unemployment could … 2 Answers. It’s like D&D but only with calculators instead dice and mages. WITHDRAWAL FROM INTERNATIONAL BANKS. So a more immediate solution to the problem of the Federal Reserve is Public Banking. Under they use the open market operation (OMO) me view the full answer. And if it is, Ron Paul has a good chance of victory. Relevance. Originally answered: What could replace the Federal reserve if it was abolished? So, they decided to pool their resources and create a state-run Bank that is more about cooperation and community than about competition and corruption. The policy making arm of the Fed, the Federal Open Market Committee, has 12 voting members when fully staffed. The Federal Reserve Board decided to take steps to arrest the speculative bubble that appeared to have been forming: it raised the cost banks had to pay to borrow from the Federal Reserve and it increased speculators’ margin requirements. The coronavirus pandemic has the potential to permanently replace some humans with machines, according to a new study on Monday from the Federal Reserve Bank of Philadelphia. So are all … The Bank of North Dakota is a public, state owned bank that was created by farmers in 1919 and was able to whether the 2008 financial collapse. As a Constitutionalist, Paul supports gold and silver as a viable currency. However, if we truly believe in the ideas of competition and freedom then each of these alternatives have a role to play in our economic future. They are also typically owned by the depositors themselves. The Federal Reserve Board estimates how much demand there is for paper currency. Clearly the impact of the Federal Reserve should be a major part of the 2012 presidential campaign. However, pushing the Federal Reserve building into the Potomac River wouldn't be easy. Some might say it’s best to get rid the idea of money, and go towards a logical, resource based economy, like architect Jacques Fresco suggested in the 70s, but I think we’re not quite there yet. 2. . These systems encourage participants to produce something for the cooperative and are typically best used at the local level. D. make an open market sale. Now that Ron Paul is officially testing the 2012 presidential waters, a hot topic will surely be “Ending the Fed.” What used to be seen as a fringe issue may now result in intelligent discussions about how do we end the Fed. 1 decade ago. And because of this – according to the Kansas City Federal Reserve Bank ... (And this is on top of the $20 billion in Treasuries the Fed’s buying since August needed to replace maturing mortgage securities and the $100-plus billion in repurchase agreements. Lv 6. There are several bills that have been proposed in Congress directed at the Federal Reserve. . I’m now allowed to talk anyone at Wells Fargo or Chase bank, but I count that as a win. 3. Credit Unions and State Banks: Under the current fractional reserve system banks create over 90% of the money in the economy through loans. And we do a pretty prominent Public Bank in place in the socialist paradise of Bismark, North Dakota. Fill in your details below or click an icon to log in: You are commenting using your WordPress.com account. The concept of interest-free money in the U.S. started in Colonial times. Some participants noted that, if needed, the Federal Reserve could consider various steps to manage the levels of short-term interest rates and the quantity of reserves, such as adjusting administered rates, expanding the overnight reverse repurchase agreement program, or implementing a maturity extension program. WASHINGTON — President Donald Trump could have the opportunity to replace five of the seven board members at the Federal Reserve — including Chair … The Federal Reserve is not the benevolent entity that most Americans think it is. Gold and Silver: First, by repealing legal tender laws the State will no longer be able to prosecute violators as domestic terrorists for using silver as an alternative currency. Change ), You are commenting using your Facebook account. The federal reserve should stay as far away from the private sector as possible. Why the sun will still rise without the Federal Reserve system. This, oil and banking, is also precisely why Iran is public enemy number one even though they never attacked another nation. Vaccinated Vs. Unvaccinated: The Study The CDC Refused To Do — Interview with Dr. Weiler, The COVID Vaccine Is Here … And So Are Potential Side Effects …, For The First Time Ever, Millions Of Working-Poor Americans Forced To Turn To Food Banks, Is The Globalist “Reset” Failing? The Federal Reserve System, created with the enactment of the Federal Reserve Act on December 23, 1913, is the central banking system of the United States. Creepiest Tech Guide of 2020 — Activity Trackers, Wireless Headphones, Smart Speakers, OMG! Speaking to the United States Congress, the Chairman of the Federal Reserve, Jerome Powell, described Bitcoin as a store of value, “like digital gold.” He also acknowledged that it could replace the need for a currency reserve. 0. The federal government is also giving municipalities and community-led initiatives $250 million over five years, starting in 2021-22, to support anti-gang programs. Look we are accountable to pay the banks back for the loans we take, so why aren’t they accountable when they fuck up and … well I don’t know Crash the entire economic system and create genocidal world wars to profit from?! Susan Walsh | Pool | Reuters. There's a chance it could become unstable and millions of other things could go wrong. I … I assume he wants the gold standard, but he's never said that. Activist Post - ALTERNATIVE INDEPENDENT NEWS - Creative Commons 2019, 48% Of U.S. Small Businesses Fear That They May Be Forced To “Shut Down Permanently” Soon. Paul claims that it will provide a smooth transition away from the Fed, pointing out that ‘if nobody wanted to use them (competing currencies), they wouldn’t have to, and everybody could be happy with the Federal Reserve. In this manner, creating ourselves our own paper money, we control its purchasing power, and we have no interest to pay to no one.” Naturally, the private banking cartel will deplore this idea, as it breaks their control over the government and the economy. Other countries are now doing the same and the trend towards digital money (called e-currencies) will be ubiquitous after a financial crisis forces the world into these cyber currencies (so as to ‘save’ the system)! There are several bills that have been proposed in Congress directed at local. The Fed, the Federal Reserve could make a huge difference in the Colonies issue. Fill in your details below or click an icon to Log in: you commenting... 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