FED: Top Ten End the Fed Reasons (Brainstorm)

[RCA]

"Why end the Fed?" seems to be a common question even among Ron Paul supporters. In order to easily get the point across why the Fed should be abolished, I think a Top Ten would be the best method. The purpose of this thread is to brainstorm about reasons to end the Fed.

Now, there will be many more than 10 reasons, but the purpose is to convey the answers in "sound-bite/t-shirt" form in order to best reach our target audience. Once we've nailed the Top Ten we can then decide the order. After that, we can start a viral compaign that could mesh with other end the Fed campaigns. I think even a website would be plausible. These urls are available:

http://www.endthefedtopten.com/
http://www.toptenendthefed.com/
http://www.whyendthefed.com/
http://www.thefedmustgo.com/

The Top Ten Reasons to End the Fed:
(to be edited)

1) A central bank is Unconsitutional.
2) Central economic planning is Communistic.
3) You shouldn't have to pay for it.
4) Beaurocrats shouldn't determine interest rates for everyone.
5) ...
6) ...
7) ...
8) ...
9) ...
10) ...

 

[Bruno]

5) It creates the most unfair tax - inflation

 

[JamesButabi]

Only the market can determine actual prices.

There is no accountability / transparency

shouldn't be allowed to print money

Creates huge economic bubbles

 

[akihabro]

Wilson knew it was wrong.
“I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world - no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men.”
Reward

FDR took our gold.
on April 5, 1933, Roosevelt signed Executive Order 6102, which ordered people to turn in their gold to the government at payment of $20.67 per ounce.

Kennedy tried to fight it.
Executive Order 11110 AMENDMENT OF EXECUTIVE ORDER NO. 10289The authority vested in the President by paragraph (b) of section 43 of the Act of May 12,1933, as amended (31 U.S.C.821(b)), to issue silver certificates against any silver bullion, silver, or standard silver dollars in the Treasury not then held for redemption of any outstanding silver certificates, to prescribe the denomination of such silver certificates, and to coin standard silver dollars and subsidiary silver currency for their redemption
Reward

Nixon empowered the Fed.
On August 15, 1971 by unilaterally canceling the Bretton Woods system.

Bernanke knew they screwed us.
"Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve. I would like to say to Milton and Anna: Regarding the Great Depression. You're right, we did it. We're very sorry. But thanks to you, we won't do it again."
http://www.federalreserve.gov/BOARDDOCS/SPEECHES/2002/20021108/default.htm

 

[G-Wohl]

Further empowers the rich and further entraps and disables the middle class.

 

[tonyr1988]

I think that, if you're wanting to do talking points for t-shirts, flyers, etc., you should use 5 reasons, instead of 10 reasons.

With 5 reasons, it's still catchy, you get all good reasons, and you get to elaborate on them more. With 10 reasons, you're probably end up getting some not-so-convincing reasons, and you'll just be able to do 1-liners on them.

For example, I think that "It creates the most unfair tax - inflation" is one of the best reasons, but most people will have no idea what it means (or how it's a "tax") unless you explain it a little.

5 reasons, a quote or two, and you've got a flyer.

 

[Jeremy]

Fiat currencies always fail.

 

[hadenough]

#1. Because if you don't know why, then we're all screwed.

 

[nbruno322]

G. Edward Gtiffin had a great list in his book, The Creature From Jekyll Island. For those who have not read it, get out there and read it. It is one of the best books on the Fed there is and Ron Paul has praised it.

http://www.amazon.com/Creature-Jeky...bs_sr_1?ie=UTF8&s=books&qid=1231011257&sr=8-1


Why should we abolish the Fed?

1. It is an instrument of totalitarianism
2. It is incapable of accomplishing its stated objectives
3. It is a banking cartel working against the interest of the people
4. It is the supreme instrument of usury
5. It is unconstitutional

 

[surf]

the Fed punishes savers (and people on fixed-incomes) through low interest rates and causes deficient allocation of capital.

 

[tremendoustie]

The Fed:
- invariably distorts the market, producing the boom bust cycle
- promotes indebtedness rather than savings
- most importantly: causes our trade deficit by the exportation of dollars and bonds, which has allowed consumption without production, and has caused our shift to a service based economy and undermined our manufacturing base

 

[Andrew-Austin]

It is secretive, accountable to no one, subject to no oversight.

 

[tggroo7]

Wilson knew it was wrong.
“I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world - no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men.”

Most of this quote (everything after the first two sentences) is from before Wilson was president. The first two sentences cannot be varified by anyone and most people outside of Ron Paul's following believe them to be fabricated. In other words, I don't believe that Woodrow Wilson ever actually expressed a great regret for signing the Federal Reserve Act.

In fact, a large percentage of "prophetic" quotes from founding fathers and such you read on the interwebz are actually taken out of context, twisted, or just plain fabricated.

 

[tggroo7]

Reasons for ending the fed that will be most effective would be any that deal with why it doesn't work or how America would be better off without the fed. If you fill it with ten reasons that are all just a different way of saying "it's wrong," "it's immoral," or "the founders wouldn't want it" you aren't saying much substance, and considering these are one-liners, you will want reasons with as much substance as possible.

In other words, make sure the reasons aren't essentially saying "we should end the fed because we should."

 

[Andrew-Austin]

Wilson knew it was wrong.

“I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world - no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men.”

I'm pretty sure at least the bold - underlined part of the quote was misattributed to him. He wasn't regretful, but a content tool of Fabian socialists.

 

[libertarian4321]

I'll just go with "I hate their unfair manipulation of the markets".

 

[wizardwatson]

Ending the Fed implies we should stop using FRN's which very few are attempting or even contemplating.