Can someone explain to me why Ancaps/libertarians use the federal reserve as a boogeyman?
1)the vast majority of the money in circulation isn't created by central banks like the federal reserve but ordinary commercial banks (Wells Fargo, HSBC, GS, etc.)
So why are libertarians and Ancaps able to scapegoat the federal reserve whenever something in their (private and for profit) system fails?
Note that I'm not socialist/communist and I believe capitalism has a lot of merits in terms of providing incentive to innovate and contribute to society; but I don't jack off about how capitalism would work perfectly and no crashes could ever happen if only gubment got rid of all regulation.
Without the Federal reserve we wouldn't have sustained the economy enough to invent the internet
Eli Sanders
That's 2 hours long, can you summarize the main points please and in particular how it contradicts what I said.
Brayden Mitchell
Then don't watch it faggot, you obviously have better things to do shitposting
Andrew Jones
I've articulated 3 separate points and all you've provided is a link to a 2 hour video of some guy talking, get off your high horse
Defend your ideas like a man and don't depend on someone else to do the talking for you.
Nolan Bell
Ancaps and Libertarians are retarded. That's why OP, they are meme ideologies.
People don't like the FED in general because it's a kike institution. The shareholders of the FED are the owners of all the major banking corporations in America. The FED exists outside of the US government and has the exclusive rights to issue our national currency.
ie the United States of America (freedomland) is not a sovereign nation.
Hudson Williams
It's one of the few things lolbergtardians and (((an)))(((cap)))s are right about
Federal reserve is an element of jew control
Oliver Carter
If you think the Fed is not a state controlled institution you're retarded.
Aaron Martin
So the FED is a corporation that provides dividends to its shareholders
What would you personally change about how the fed conducts its business to make it more in line with your view of free market capitalism?
Nathaniel James
1) The federal reserve feeds banks money for them to create more. 2) If it acted like a private corporation, i.e. a bank, then how would it influence interest rates? To influence interest rates is to be contrary to the free market. 3) Crony capitalism does not equal capitalism.
Chase Anderson
> then how would it influence interest rates?
It's a bank. It can set whatever interest rate it wants on loans and deposits
Government is backed by violence and theft. You cannot choose to not pay them. On the other hand, transactions with companies are voluntary. You can choose to not pay them. This fundamental difference makes all of the evils of government nearly impossible, as the funding of such evils cannot be forced from people. Companies must focus on efficiency and bringing value to customers to survive, and that really makes a huge difference in what they do. In comparison, the government doesnt need to make anybody's lives easier or be efficient, as long as they have power over you.
Luis Roberts
>The federal reserve feeds banks money for them to create more.
If a regular Joe deposits money in a regular bank, the same thing happens.
Nolan Miller
>Private enterprise = Good >Government = Bad
The Fed is a privately owned for-profit corporation/bank, is it a part of the "good free market" or a part of the "big bad government"?
Parker Butler
the UNITED STATES of AMERICA is a corporation
Luke Lee
"And the corporations are all corporationey"
Cooper Wright
>created by goverment >chairman is app by goverment >its printed tender is a granted a monopoly over US transactions >its tender is "back by the full faith and credit of United States Goverment" >used by the goverment to tax through inflation
The only thing private about the federal reserve is its back room dealings. If it was part of the free market it would have colopased through fraud and lack of confidence a 100 years ago.
Jaxson Long
The FED was created by Jewish international bankers. The literally wrote the legislation.
Easton Ortiz
Greenspan was on daily show years back when Stewart was still host, had to be about 2007-2008, he said then, as is true now, that the US does not have a real free market because of central bank control over interest rates, the manipulation of which is a very visible hand.
Blake Torres
Autism + internet access
Jeremiah Baker
>its printed tender is a granted a monopoly over US transactions
People could barter instead of using their printed tender.
>its tender is "back by the full faith and credit of United States Goverment"
Which means fuck all
>used by the goverment to tax through inflation
Right but Volcker fought inflation in the 70s and early 80s by raising the federal funds rates.
so if the government didn't appoint the chairman would that improve it?
Dominic Wright
>So why are libertarians and Ancaps able to scapegoat the federal reserve whenever something in their (private and for profit) system fails? Because it doesn't fulfill the goal of a central bank. But is instead the goals of private banks.
The founders wouldn't have wanted it. It's a tool to increase the size and scope of the state.
Carter Thomas
>investopedia.com/terms/f/federalfundsrate.asp yes, so its the entire fiat fractional reserve banking system thats fundamentally flawed, because if the debt were to be paid completely right now the money supply would be 0
Bentley Hernandez
>fiat fractional reserve banking system thats fundamentally flawed
Gold backed currencies are also flawed.
History just cycles from one flawed system to another after the previous one collapses. It's human nature
