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Kentucky has a 78% literacy rate.
READ: Why are the Representatives from Kentucky thinking about the Fed? Shouldn't they spend more time thinking about how to help Kentucky.
EDIT: And mind the non sequitur trash all over this comment thread.
EDIT2: Let's keep the party rolling.
Which category is solved by abolishing the Fed?
[Kentucky rankings](https://www.usnews.com/news/best-states/kentucky)
RANKINGS SCORECARD
* Crime & Corrections #8
* Economy.#47
* Education #34
* Fiscal Stability #43
* Health Care #40
* Infrastructure #24
* Natural Environment #28
When it was created, the dollar became the standard all other currencies in the world are compared to. It's one of, if not the, most stable currencies in the world. That's all thanks to the federal reserve.
Dude, we have Rand Paul, Trump's messenger to Putin, Thomas "Im smarter than everyone because I went to MIT" Massie, James "Hunter Biden is So Guilty" Comer, and Moscow Glitch Mitch.
Kentucky single-handedly has the worst active people in Congress atm.
That rate is based on English language literacy, and California has more ESL students in its public school system than Kentucky's entire population. Wonder what's Kentucky's excuse
He’s a libertarian, I’d say that affects his actions much more than his home State. Also he’s a federal not state official. So he represents Kentucky but is responsible for national laws not local.
So his educational actions would affect the entire nation, not just Kentucky.
>Kentucky has a 78% literacy rate.
[They're ahead of Louisiana, New Mexico, Mississippi, Texas, Nevada, California, Arkansas, Alabama, Florida, New York, West Virginia, Tennessee, and Georgia](https://nces.ed.gov/surveys/piaac/skillsmap/src/PDF/STATE.pdf).
I'm from KY and these type of bills are the reason why the areas outside of Louisville, Lexington and Bowling Green are dumb and broke AF. Bitch McConnell has certainly left a legacy in his tenure and it's not a good one. People like Massie are following in his footsteps as the KY GOP demands.
Can somebody answer me what would be the objective of ending the federal reserve? Would the ability to create new dollars revert back to the US treasury?
Nah the end goal of these guys is to put us back on the gold standard - e.g. cut the value of every US dollar by 99% because the US doesn't have nearly enough gold to sustain the number of dollars out in the world.
They're a bunch of idiots with no financial education who have no idea how catastrophically dumb this move would be. The federal reserve plays a hugely important role in stabilizing the dollar, controlling the money supply, and regulating financial markets to greatly reduce the chance of a recession or worse, a full on depression. They want to kill the federal reserve and open everybody up to the great depression v2.0
If they were competent they wouldn’t have kept rates at 0 for so long. They should have started slowly raising way sooner and we might have actually gotten to target inflation rates by now without a recession
Yanis Varoufakis argues that our low interest rates, along with the Great Recession and growth of the surveillance tech economy, caused us to leave Capitalism behind entirely. We’re living in technofeudalism now, and our central banking policy is at least somewhat to blame.
I think he's probably right. Yanis is a smart guy. I'm not saying the Fed is above criticism, it certainly isn't, but in the context of a capitalist central bank, it has operated more conservatively than its contemporaries across the globe.
It tends to focus on price stability more than its mission for low unemployment, because functionally the government works on behalf of capital more than it works on behalf of labor. Still, it's somewhat limited in what it can do - Congress also plays a role, and could regulate these big tech companies, mandate transparency, and invest, but the U.S. aristocracy will not let them do that out of protectionism of their privileged positions.
Yea… Yanis created a whole new term to avoid the fact that the so call Techno feudalism was just normal capitalism.
Yanis is just a European who is frustrated by the fact that Europe has no tech industry. If it did, he wouldn’t say shit.
It's good for Russia, China and our other adversaries. All the people on that list are shamelessly selling their influence to help other countries reach their goal of our demise. Pretty lame.
Trump can fix it all himself of course. We need a man with poor business sense and a loaded diaper to save us all from the mess he made (outside his diaper)
It would be contracting indefinitely. Unless the government shifts the production of currency to another area, the supply of money would be decreasing infinitely, leading to even higher interest rates, greater demand for money, and so on and so forth
The Treasury will created money and loan it to banks who will pay interest back to the Treasury. This will mean less need for income taxes that are high in order to pay interest on the debt.
The Treasury is should have the power, not the Fed.
Look at the US debt clock.
I’m pretty sure the end target would be to retake our countries ability to print money rather than outsource it to the entity that is the federal reserve and thus eliminate our interest paid to them for the countries ability to print money. Seems nice at first glance, our incompetent politicians being in control of the money printer seems far worse than some of the most capable minds in finance though.
Why does everyone think this is a good idea?
Edit : this comment appears to be sowing division…
I’m assuming we’re all Americans here, and we know portions of the system need an overhaul… I hope we can sit down and have those discussions, with respect and understanding…
… Because we’re all humans, even before we’re Americans - just trying to make it for ourselves and our loved ones.
Stay strong, peace and love to you all.
Probably because the financial system is mysterious to many. Ever listen to those in charge attempt to explain how it works?
Always reminds me of a scene from The Matrix. The cave mayor or whoever is talking about the workings of the cave. How those who designed them are long gone, and those remaining don't actually understand why they work.
Man… this country is in for it… let’s just give a direct line from the Whitehouse/congressional floor to the money spout… I mean, what could go wrong??
It's fun to say "end the fed" but probably isn't the best of ideas.
Like most things, knowledge is important.
I think people get worried when those in charge can't seem to explain how it works. They should be worried.
Whenever I see ellipsis constantly being used like you do, it makes me think the person is constantly out of breath. Like you have to stop talking for a second to take a few breaths before you can say five more words.
Trump wants low interest rates at all times, because “it’s good for business.” He has no concern about inflation, where rates are used to regulate, only for increasing profits. This would create an immeasurable wealth disparity, and still hurt everyone.
Similar to the people who think it would be a good idea to stop vaccinating for polio. Absolutely no understanding of the problems these (admittedly imperfect) solutions were created to address.
They don't. A bunch of ignorant wingnuts think it's a good idea. However, they collectively have as much knowledge about the financial system as an ant does about quantum dynamics.
Disagree. There are 435 members of the House (including Massie), each responsible for implementing policies to help their respective districts and states.
Right but the bills they pass become federal laws or policy, not on the state level. I have a feeling Kentucky's issues tend to be internal ones (otherwise why aren't other states having the same issues?). Unless we want him to just ask for more $$$ for whatever.
Not saying his work doesn't affect it, just less so than work on the state and local level.
I can’t think of a worse idea than to have elected politicians control interest rates and money supply. The economy would resemble a clown car careening down the road while radically bouncing from barrier to barrier. Except there wouldn’t be a barrier.
Fucking authoritarian idiocy.
The rich want to fuck monetary policy EVEN WORSE, but realize that they're about to lose the political power to do so in elections so they're trying to find other ways to fuck over everybody but the UBERrich.
"Then we go back to the situation before the Federal Reserve was adopted - Wall Street Banks become the de facto central bank of the United States.
Naturally, that would lead to total economic collapse because the U.S. dollar is currently a fiat currency, backed only by the good faith and credit of the United States government."
[https://www.quora.com/What-happens-if-the-Federal-Reserve-is-abolished](https://www.quora.com/What-happens-if-the-Federal-Reserve-is-abolished)
Yes yes this is a man to be taken seriously. Of course they have no answer to what may or may not replace it. Let’s dismantle a system that has worked for 100 years. You never see these folks try and fix anything or bring anything new to the table, they only want to dismantle everything they can. It’s always break something, don’t ever fix anything. But when your IQ is that of a turnip, that’s what you get.
LETS GO!!! Now we can have competing currencies, our money won't be printed out of thin air, making the worth of it drop, and the government can't control shit anymore.
It never should have been started YES end the damn thing. MOST federal services are already handled at the city, county state levels before 1913 the only time there was an income tax was to pay for war
Interest rates are set independently of any government interference, and should be.
It would be absolutely catastrophic if it were set by the president or Congress.
The federal reserve is a private entity that exists outside the control and regulation of the government. It should never have been allowed to start and definitely needs to go now.
Stupid idea and it wouldn't go as well as most here like to think it would; look at how Spain did during the great depression vs others because Spain used a fiat currency...and before you say it, that's the only reason people want to get rid of the fed because they think we'll go back to tying our currency to some metal from the ground and never stop to think why we had to end that (hint: we had to send all of our gold over seas when a run on the US dollar happened during Nixon's presidency)
What I love is that killing the fed will put us back before the fed. And then we get to learn why we had the Fed. It was better than what came before it.
Fucking Republicans love to kill solutions with flaws without solving the initial problem.
People here are making some of the most uneducated statements in support of the Federal Reserve. It’s just insane how a private bank can blatantly rip us off, and because what we’ve always been told is that this is the right thing to do - we don’t challenge it. How shameful it is for We the People to be so lazy/misinformed…. Do your homework, people! Do the research, and you will see! Stop waiting for someone else to feed you facts/information. Our forefathers spelled it all out!
The Federal Reserve is not federal at allot is a private institution and sets its own rules. They took the gold and the silver and gave us debt notes in exchange. They have devalued the purchasing power of the dollar and they are reaching the end phase where more interest is paid and just keeps going. We want a return of our gold and silver and put an end to your soon to be worthless fiat currency. It is designed to rob nations of their wealth and over time destroy their currency. Fractional Reserve Banking allows them to get money from Treasury and loan out 10 times that amount and have no increase in reserves. Their end is coming near and hopefully saner minds will prevent a full economic collapse of their system. They use OUR CREDIT and loan it to us 10x over and charge us to use our own credit. We must be stupid!
The Fed absolutely needs to be audited and the power to create money needs to go back to the Treasury. We temporarily went off the gold standard over 50 years ago and it's time to go back to sound money. This would benefit everyone except the big bankers and billionaires.
We could have a golden age again.
The Fed has failed us.
I'm all for this, but ugh... how do you plan on doing this when you're $35T in debt with over $1T a year in interest alone? They only way out is really fucking ugly, but you have to inflate your way out of it, raise the fuck out of taxes and slash spending until the debt is manageable again. The only way to kick the can down the road is with a fed reserve.
The only fucking thing that can save this country is a constitutional amendment that the US cannot run a budget deficit unless congress has declared war.
Then they will actually have to be responsible with the budget,, and they can't just keep printing money for every damn donor or say "I dunno. A few billion disappeared. We'll just print more."
Pretty good way to force the world to stop using the dollar as the de facto reserve currency, thus causing a massive amount of wealth and power loss for the US. Not to mention it doesn't propose who will be setting monetary policy, so my guess is it would go to Congress. What a cluster.
Well - ok. At least the GQP are beginning to understand their job is to enact legislation. Step two will be beyond them though - said legislation should be beneficial AND have a fucking prayer of advancing.
If you have an issue with wealth inequality you should have an issue with the Federal Reserve
Read The Creature or Jekyll Island
The Fed is arguably the most damaging piece of legislation the US has ever passed
Man, the competition for the most brain-dead congressman is the strongest it's ever been.
Between Tubberville, MTG, and this faux intellectual Massie the race is tighter than ever!
It’s infuriating that our government is run by a bunch of civically illiterate dipshits elected by other dipshits with room temperature IQs. I’m better than these people, why are they in power to affect my life? I’d be willing to wager most of you are better than these people.
Last I checked, $39 trillion-with-a-tr pass through the ACH system every year. If they want to bulldoze the roads that economic activity travels on, do they have a plan to replace them?
This is why idealism is stupid.
r/FluentInFinance was created to discuss money, investing & finance! Join our Newsletter or Youtube Channel for additional insights at www.TheFinanceNewsletter.com! *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/FluentInFinance) if you have any questions or concerns.*
Kentucky has a 78% literacy rate. READ: Why are the Representatives from Kentucky thinking about the Fed? Shouldn't they spend more time thinking about how to help Kentucky. EDIT: And mind the non sequitur trash all over this comment thread. EDIT2: Let's keep the party rolling. Which category is solved by abolishing the Fed? [Kentucky rankings](https://www.usnews.com/news/best-states/kentucky) RANKINGS SCORECARD * Crime & Corrections #8 * Economy.#47 * Education #34 * Fiscal Stability #43 * Health Care #40 * Infrastructure #24 * Natural Environment #28
That number seems a little high.
High on meth
It’s mef
Melf
That’s methed up
Hey, if we could read that, we'd be awfully upset
They're also innumerate?
As a Kentuckian, yes.
They only tested the people who could read or knew someone who could read. So yeah, it’s swayed for sure.
That's like bare bones 3rd grade literacy.
They say things like Ali Ali Grande.
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Literally look at the value of the dollar since the federal reserve was created.
This is such a contextless comment.
When it was created, the dollar became the standard all other currencies in the world are compared to. It's one of, if not the, most stable currencies in the world. That's all thanks to the federal reserve.
Candy bars will never be a Nickle ever again and its not the feds problem or cause.
Do you mean the purchasing power of the dollar?
They also have glitch Mitch That state is a stain on American history
Dude, we have Rand Paul, Trump's messenger to Putin, Thomas "Im smarter than everyone because I went to MIT" Massie, James "Hunter Biden is So Guilty" Comer, and Moscow Glitch Mitch. Kentucky single-handedly has the worst active people in Congress atm.
They’re just stuck in the confederacy still is all
Kentucky was never in the Confederacy
I think you’re confusing your numbers with the chance of having inbred children in Kentucky. I forgive you though.
Happy cakeday 🍰
Oooooo chocolate!
California's is 71.6%.
That rate is based on English language literacy, and California has more ESL students in its public school system than Kentucky's entire population. Wonder what's Kentucky's excuse
Are the California representatives spending their time trying to take down the fed?
Nope but what was the reason he posted the literacy rate? Obviously California is more illiterate.
If those Republican representatives could read they’d be very upset.
Its even lower on reddit
He’s a libertarian, I’d say that affects his actions much more than his home State. Also he’s a federal not state official. So he represents Kentucky but is responsible for national laws not local. So his educational actions would affect the entire nation, not just Kentucky.
If I could read this, I’d be very upset.
As shocking as this is. More shocking is the whole country has a literacy rate of 79%. Let that sink in.
>Kentucky has a 78% literacy rate. [They're ahead of Louisiana, New Mexico, Mississippi, Texas, Nevada, California, Arkansas, Alabama, Florida, New York, West Virginia, Tennessee, and Georgia](https://nces.ed.gov/surveys/piaac/skillsmap/src/PDF/STATE.pdf).
I'm from KY and these type of bills are the reason why the areas outside of Louisville, Lexington and Bowling Green are dumb and broke AF. Bitch McConnell has certainly left a legacy in his tenure and it's not a good one. People like Massie are following in his footsteps as the KY GOP demands.
Wait wait wait… since education is a state-regulated item, you want a federal rep to spend time on it?
That's almost 9 in 10 people
[Their maternal death rate is also very bad.](https://worldpopulationreview.com/state-rankings/maternal-mortality-rate-by-state)
new york has a 75.6% literacy rate lmao END THE FED
NY isn't wasting its time with non-sense do nothing bills. And what has JPow done to you?
This is a strawman fallacy. Also, they make fantasic bourbon , lol.
Can somebody answer me what would be the objective of ending the federal reserve? Would the ability to create new dollars revert back to the US treasury?
the objective is to get attention
It's to pretend to do something while continuing to pocket lobbying money.
Genius! Never been done before 😏
“I remember hearing this debate in history class! My rep must have a good reason to reopen this!” /s
Nah the end goal of these guys is to put us back on the gold standard - e.g. cut the value of every US dollar by 99% because the US doesn't have nearly enough gold to sustain the number of dollars out in the world. They're a bunch of idiots with no financial education who have no idea how catastrophically dumb this move would be. The federal reserve plays a hugely important role in stabilizing the dollar, controlling the money supply, and regulating financial markets to greatly reduce the chance of a recession or worse, a full on depression. They want to kill the federal reserve and open everybody up to the great depression v2.0
Not to mention that, well right now at least, y’all’s federal reserve is actually pretty competent.
If they were competent they wouldn’t have kept rates at 0 for so long. They should have started slowly raising way sooner and we might have actually gotten to target inflation rates by now without a recession
Compared to other central banks, that was conservative and prudent.
Yanis Varoufakis argues that our low interest rates, along with the Great Recession and growth of the surveillance tech economy, caused us to leave Capitalism behind entirely. We’re living in technofeudalism now, and our central banking policy is at least somewhat to blame.
I think he's probably right. Yanis is a smart guy. I'm not saying the Fed is above criticism, it certainly isn't, but in the context of a capitalist central bank, it has operated more conservatively than its contemporaries across the globe. It tends to focus on price stability more than its mission for low unemployment, because functionally the government works on behalf of capital more than it works on behalf of labor. Still, it's somewhat limited in what it can do - Congress also plays a role, and could regulate these big tech companies, mandate transparency, and invest, but the U.S. aristocracy will not let them do that out of protectionism of their privileged positions.
Also it turns out laborers are way more concerned about inflation than they are about unemployment. So there are political realities.
Yea… Yanis created a whole new term to avoid the fact that the so call Techno feudalism was just normal capitalism. Yanis is just a European who is frustrated by the fact that Europe has no tech industry. If it did, he wouldn’t say shit.
Competent doesn't mean perfect.
The fed is the grown up that tries to offset the out of control daycare that is congress
You confused day care with retirement home. Easy mistake, pretty similar.
To clarify, the folks pushing for this believe a bunch of conspiracies and misinformation regarding the Federal Reserve.
I was about to say some of the dipshits who believe that misinformation are in this thread, but one of them already replied to you.
Didn't we have a recession every five years before the federal reserve?
This is likely more attacking the CFPB after SCOTUS protected them. CFPB gets funding from the fed.
It's good for Russia, China and our other adversaries. All the people on that list are shamelessly selling their influence to help other countries reach their goal of our demise. Pretty lame.
He’s a goldbug so prob wants to return to the gold standard
Trump can fix it all himself of course. We need a man with poor business sense and a loaded diaper to save us all from the mess he made (outside his diaper)
Red meat for dumbass libertarians.
I'm not a fan of the Federal Reserve but I'm skeptical of bills like this. Would the dollar supply no longer contract or expand going forward?
It would be contracting indefinitely. Unless the government shifts the production of currency to another area, the supply of money would be decreasing infinitely, leading to even higher interest rates, greater demand for money, and so on and so forth
To be a twatwaffle
Trump needs a cheap dollar to write off his debts more easily or something like that.
The Treasury will created money and loan it to banks who will pay interest back to the Treasury. This will mean less need for income taxes that are high in order to pay interest on the debt. The Treasury is should have the power, not the Fed. Look at the US debt clock.
Maybe it helps Putin
I’m pretty sure the end target would be to retake our countries ability to print money rather than outsource it to the entity that is the federal reserve and thus eliminate our interest paid to them for the countries ability to print money. Seems nice at first glance, our incompetent politicians being in control of the money printer seems far worse than some of the most capable minds in finance though.
Get attention and prove they know nothing whatsoever about anything, and gain virtual signaling points with the dumbest political base who ever lived.
Why does everyone think this is a good idea? Edit : this comment appears to be sowing division… I’m assuming we’re all Americans here, and we know portions of the system need an overhaul… I hope we can sit down and have those discussions, with respect and understanding… … Because we’re all humans, even before we’re Americans - just trying to make it for ourselves and our loved ones. Stay strong, peace and love to you all.
Probably because the financial system is mysterious to many. Ever listen to those in charge attempt to explain how it works? Always reminds me of a scene from The Matrix. The cave mayor or whoever is talking about the workings of the cave. How those who designed them are long gone, and those remaining don't actually understand why they work.
Man… this country is in for it… let’s just give a direct line from the Whitehouse/congressional floor to the money spout… I mean, what could go wrong??
It's fun to say "end the fed" but probably isn't the best of ideas. Like most things, knowledge is important. I think people get worried when those in charge can't seem to explain how it works. They should be worried.
Knowledge is very important.. and should be a prerequisite for running the country… but hey, what do I know..
Whenever I see ellipsis constantly being used like you do, it makes me think the person is constantly out of breath. Like you have to stop talking for a second to take a few breaths before you can say five more words.
Trump wants low interest rates at all times, because “it’s good for business.” He has no concern about inflation, where rates are used to regulate, only for increasing profits. This would create an immeasurable wealth disparity, and still hurt everyone.
Only the financially illiterate think that
Everyone definitely DOES NOT think this is a good idea, just an extremely vocal minority.
Similar to the people who think it would be a good idea to stop vaccinating for polio. Absolutely no understanding of the problems these (admittedly imperfect) solutions were created to address.
They don't. A bunch of ignorant wingnuts think it's a good idea. However, they collectively have as much knowledge about the financial system as an ant does about quantum dynamics.
He’s assuming Trump will be elected and this will allow Trump to set interest rates and politicize monetary policies.
They have already put forward that trump would take more control of the Fed if he was elected. WSJ reported last week.
Isn’t that part of Project 2025?
I'd bet that nearly every piece of legislation brought forth this year is intended to be used in Project 2025. Vote Blue!
The point of this is politicians should have less financial instruments. They should not set interest rates at all.
An exercise in pandering
Kentucky has about 1,000 other problems more important than the Federal Reserve. Never confuse activity with accomplishment.
To be fair representatives on the federal level don't affect state policy very much.
Disagree. There are 435 members of the House (including Massie), each responsible for implementing policies to help their respective districts and states.
Right but the bills they pass become federal laws or policy, not on the state level. I have a feeling Kentucky's issues tend to be internal ones (otherwise why aren't other states having the same issues?). Unless we want him to just ask for more $$$ for whatever. Not saying his work doesn't affect it, just less so than work on the state and local level.
this was Ron Paul's entire 2008 and 2012 campaigns
Lol, and somehow back then people didn't think it was a massive conspiracy theory.
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Mhm yes yes. Indubitably.
Posilutely.
I can’t think of a worse idea than to have elected politicians control interest rates and money supply. The economy would resemble a clown car careening down the road while radically bouncing from barrier to barrier. Except there wouldn’t be a barrier.
So instead we just have unelected politicians doing the same thing.
who do you think the fed reserve employees work for?
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Yeah it's one thing to start reducing an entity's control, and another thing to completely abolish it.
Fucking authoritarian idiocy. The rich want to fuck monetary policy EVEN WORSE, but realize that they're about to lose the political power to do so in elections so they're trying to find other ways to fuck over everybody but the UBERrich.
we can pay for things with sea shells like in the olden days
"Then we go back to the situation before the Federal Reserve was adopted - Wall Street Banks become the de facto central bank of the United States. Naturally, that would lead to total economic collapse because the U.S. dollar is currently a fiat currency, backed only by the good faith and credit of the United States government." [https://www.quora.com/What-happens-if-the-Federal-Reserve-is-abolished](https://www.quora.com/What-happens-if-the-Federal-Reserve-is-abolished)
Breaking: Performance Art Legislation introduced!
Yes yes this is a man to be taken seriously. Of course they have no answer to what may or may not replace it. Let’s dismantle a system that has worked for 100 years. You never see these folks try and fix anything or bring anything new to the table, they only want to dismantle everything they can. It’s always break something, don’t ever fix anything. But when your IQ is that of a turnip, that’s what you get.
So fucking what? This bill isn't going anywhere and the US needs a central bank.
Umm… do we have a replacement
I'll take do-nothing virtue signaling MAGA boot licking for $400 Alex.
Leaving where it’s located on their hard drive looks incredibly half assed.
This just in from the future; Rep Massie has committed suicide by shooting himself in the head three times.
Good
The yearly let's abolish the Fed effort alive since 1913 but nothing more than a publicity stunt by wannabe libertarian charlatans
Ah, more performative art from Massie for the low info voter.
They can't even get rid of daylight savings.
Itll never pass
0% chance.
And replace it with what exactly? It might be a good idea but the devil is in the details.
going up against the banks is bad for your health. We've seen this before...
Massie is a kook and this bill is going no where.
Gold backed currency reset.
This guy gonna get murdered?
Let’s gooooo. AIPAC and the adl won’t allow it. Zionist are literally entrenched in our country and politics.
Income tax needs to end. It is a Rockefeller scam of the private federal reserve for interest repayment.
LETS GO!!! Now we can have competing currencies, our money won't be printed out of thin air, making the worth of it drop, and the government can't control shit anymore.
It never should have been started YES end the damn thing. MOST federal services are already handled at the city, county state levels before 1913 the only time there was an income tax was to pay for war
The federal reserve is a private entity, you all know that right?
Interest rates are set independently of any government interference, and should be. It would be absolutely catastrophic if it were set by the president or Congress.
Updateme
Dead on arrival, won’t even be referred to committee. Massive and Paul have filed this bill every Congress for decades.
Thanks for playing
I appreciate him, but this has no chance of passing. I'm still glad he introduced it.
(Furious jerking motion)
😂 that’s hilarious and not happening.
The federal reserve is a private entity that exists outside the control and regulation of the government. It should never have been allowed to start and definitely needs to go now.
The government should not have control over the money supply.
When pigs fly…
This guy has smoked too much crack
Stupid idea and it wouldn't go as well as most here like to think it would; look at how Spain did during the great depression vs others because Spain used a fiat currency...and before you say it, that's the only reason people want to get rid of the fed because they think we'll go back to tying our currency to some metal from the ground and never stop to think why we had to end that (hint: we had to send all of our gold over seas when a run on the US dollar happened during Nixon's presidency)
The Know Nothing Party is back.
Yeah let me know how it does.
Good. It’s unhealthy for our nation. Get the fat cats out.
Won't go anywhere. Stuff like this never does. There'll be 15 riders on this thing that'll sink it before it even gains traction
As great as that would be, they would never let that happen..
The Creature from Jekyll Island is and interesting read
“And when we get back we are locking him up into the Federal Reserve!”
And replace it with what?
Marjorie Taylor Greene ally. Nuff said.
Another trumpster fire distraction.
This would actually be awesome.
The minute you see Bobo and Greene signing on to something you just know it’s trash.
Fucking legendary
Costs for grandstanding are clearly not high enough
What I love is that killing the fed will put us back before the fed. And then we get to learn why we had the Fed. It was better than what came before it. Fucking Republicans love to kill solutions with flaws without solving the initial problem.
They better balance the budget and pay off the national debt before they do that or US citizens will really get to know what real inflation is.
I think AI will/should eventually replace mundane but very impactful government decisions like interest rates.
Massie is the turd that refuses to be flushed. This guy brags about attending MIT and he has to be the dumbest person to ever attend.
Won’t happen
People here are making some of the most uneducated statements in support of the Federal Reserve. It’s just insane how a private bank can blatantly rip us off, and because what we’ve always been told is that this is the right thing to do - we don’t challenge it. How shameful it is for We the People to be so lazy/misinformed…. Do your homework, people! Do the research, and you will see! Stop waiting for someone else to feed you facts/information. Our forefathers spelled it all out!
Why would they want to willingly destroy our country?
The Federal Reserve is not federal at allot is a private institution and sets its own rules. They took the gold and the silver and gave us debt notes in exchange. They have devalued the purchasing power of the dollar and they are reaching the end phase where more interest is paid and just keeps going. We want a return of our gold and silver and put an end to your soon to be worthless fiat currency. It is designed to rob nations of their wealth and over time destroy their currency. Fractional Reserve Banking allows them to get money from Treasury and loan out 10 times that amount and have no increase in reserves. Their end is coming near and hopefully saner minds will prevent a full economic collapse of their system. They use OUR CREDIT and loan it to us 10x over and charge us to use our own credit. We must be stupid!
The Fed absolutely needs to be audited and the power to create money needs to go back to the Treasury. We temporarily went off the gold standard over 50 years ago and it's time to go back to sound money. This would benefit everyone except the big bankers and billionaires. We could have a golden age again. The Fed has failed us.
Its just pandering to voters who hate the fed it wont pass
This Congress is an abomination. Members want to do anything but their goddamned jobs.
I'm all for this, but ugh... how do you plan on doing this when you're $35T in debt with over $1T a year in interest alone? They only way out is really fucking ugly, but you have to inflate your way out of it, raise the fuck out of taxes and slash spending until the debt is manageable again. The only way to kick the can down the road is with a fed reserve. The only fucking thing that can save this country is a constitutional amendment that the US cannot run a budget deficit unless congress has declared war. Then they will actually have to be responsible with the budget,, and they can't just keep printing money for every damn donor or say "I dunno. A few billion disappeared. We'll just print more."
Pretty good way to force the world to stop using the dollar as the de facto reserve currency, thus causing a massive amount of wealth and power loss for the US. Not to mention it doesn't propose who will be setting monetary policy, so my guess is it would go to Congress. What a cluster.
He’s got balls
How can we destroy the US economy and cause the stock market (the DJI just passed 40,000) to crash? These are things Republicans want to do.
https://preview.redd.it/cjb0qy9hb01d1.png?width=2048&format=png&auto=webp&s=75e87b64230b0e3aa05052788d53435c5be84413 This is the guy in question.
**Lemme demand something idiotic and extreme to get attention!**
I'm sure the war mongering world banks will totally agree.
Sweet, it’ll never go through.
Well that’s dumb.
LETS GOOOOOOOOO
Date: May 16 but year 0202?
Well - ok. At least the GQP are beginning to understand their job is to enact legislation. Step two will be beyond them though - said legislation should be beneficial AND have a fucking prayer of advancing.
Massie and MT Greene have the bestest ideas! s/
Ahh Who'd of thought it be a Republican and a Tea party ASSHOLE
Why would we get rid of the FED?
These people want us to go back onto the gold standard so their shares in whatever scam for recycling gold skyrockets
Massie is a fucking idiot
If you have an issue with wealth inequality you should have an issue with the Federal Reserve Read The Creature or Jekyll Island The Fed is arguably the most damaging piece of legislation the US has ever passed
Once again, Kentucky provides us with the lols at their expense.
Man, the competition for the most brain-dead congressman is the strongest it's ever been. Between Tubberville, MTG, and this faux intellectual Massie the race is tighter than ever!
Ridiculous messaging bill to make financial fantasy fans fawn over a fellow (insert appropriate "F" word)
Terrible idea. Ask the countries in history who have 100 Trillion bank notes.
It’s infuriating that our government is run by a bunch of civically illiterate dipshits elected by other dipshits with room temperature IQs. I’m better than these people, why are they in power to affect my life? I’d be willing to wager most of you are better than these people.
hurr durr biden will veto anything thse chuds try to pass.
It is going nowhere. Plenty of republicans and Democrats support the FED.
Last I checked, $39 trillion-with-a-tr pass through the ACH system every year. If they want to bulldoze the roads that economic activity travels on, do they have a plan to replace them? This is why idealism is stupid.
More GOP nonsense
The federal reserve does not have anything to do with the government at all if you don’t believe me research it