Why Thomas Sowell And Ron Paul Hate The Federal Reserve

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Thomas Sowell is an American economist and political commentator. He taught economics at Cornell University, the University of California, Los Angeles, and since 1980 at the Hoover Institution at Stanford University, where he is currently a Senior Fellow.
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[SDscrch]

"when somebody removes a cancer, what do you replace it with?"
good question!!

[cx]

Fed Researve is not about making things better, its about CONTROL!

[bathcat]

What professor Sowell has truly taught me is intentions aren’t enough. Good intentions will not stop bank failures. You need intention + effectiveness. I love this man

[milesbennett]

“GIVE me control of a nation’s money supply, and I care not who makes its laws.” So said Mayer Amschel Rothschild

[michaelungerer]

The U.S. dollar should have never become a fiat currency.

[jimreed]

Gotta love his analogy: When someone removes a cancer, what do you replace it with.

[jdella]

Why is a private bank, which the fed actually is, in charge of our money?

That should be the job of the US Treasury, not a private bank.

[xx_pjlikesmusic_xx]

Ron Paul was the best president we never had. The media made sure he didn't win.

[AndreLeitedaSilvaGaldino]

As an anarco- capitalist and as an economist, i could not agree more!

[kt]

Dr. Sowell has written that what a [government] agency can do can or will be different from what a [government] agency will do.

[daytradingnl]

It starts with 2 lies, its not federal and it doesn’t have a reserve.

[wayneyadams]

I always go back to the famous Ronald Reagan quote, "The nine scariest words are, 'I'm from the government and I'm here to help.'"

[kerwinbrown]

Capitalism doesn't have a central bank or the equivalent. Only corporatism and socialism do.

[mickbadgero]

Every slave wants to get rid of their master. They can't just wish them away. It just doesn't work that way.

[nickgeorgiou]

The problem with the Federal Reserve is that they are wrong more times than not. There seems to be more policy wonks than there are people who have actual practical experience.

[midwestfdwatch]

That's what i thought when Trump was talking about REPLACING Obamacare. Can we JUST get rid of it???

[ronaldanderson]

Sixty years ago, Milton Friedman proposed that money supply should be controlled by a computer algorithm that would be free from politics and excessive human intervention.

[pmks]

The mission of the FED was to buy corporate bonds in the case of a panic to stabilize the economy. It also was in charge of setting margin rates. Congress changed the mission to buying government bonds during WW1 and never changed it back. We need to go back to its original mission. JP Morgan and the other bankers were very shrewd and we have never found out if it’s original mandate would have worked.

[fcldtsu]

The flaw in the question of the host is making the assumption that if desolved, the functions of the Fed would have to be replaced with something.
The host also conflates the gold standard with what the Fed was supposed to be doing. But the use of the gold standard was only a small part of what the Fed grew to do - - and has demonstrably failed at.

[liberty-matrix]

"We have come to be one of the worst ruled, one of the most completely controlled governments in the civilized world - no longer a government of free opinion, no longer a government by... a vote of the majority, but a government by the opinion and duress of a small group of dominant men. Some of the biggest men in the United States, in the field of commerce and manufacture, are afraid of something. They know that there is a power somewhere so organized, so subtle, so watchful, so interlocked, so complete, so pervasive, that they had better not speak above their breath when they speak in condemnation of it." ~Woodrow Wilson