Quote:
Originally Posted by trader220
The Fed gets its cash from the member banks and they don't take capital from the federal govt. So you're sure they need to be gotten rid of but you don't know how they work? How bout something like to gold standard or even general trade? Who would take our new unit of currency?
When gold goes through the roof since the govt would have to acquire it to back this new unit of currency how would you prop up the domestic economy? How would you keep a handle on the new unit of currency when the gold market is free to do whatever it wants in the rest of the world? What about payment of our debt that already exists to other countries, there is not enough gold in the world to cover that?
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Hold on there partner. I never said I was sure the Fed needed to be abolished. Ron Paul said that. I merely stated how I thought he'd get it done.