Problem :: Government granted a monopoly on the production of legal tender to the Federal Reserve Bank

Government granted a monopoly on the production of legal tender to the Federal Reserve Bank

2,353 Views / Posted by Devin Balkind

It has made our currency undignified.

Supporters: Devin Balkind, Chris Wooten, Ed Ant, Ben Cribb, Colin Feeley

Opponents: Aaron Greenspan, David Sauter, Chris Slagle, Jonathan Wallis, Kyle Halgerson

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	Aaron Greenspan / October 17, 2011 at 6:49 PM EDT The Federal Reserve Bank actually has a really good reason for existence. It is a crucial point of coordination among banks in the United States and now globally. We should be thankful that we have one currency and not 50--though the issues are different, take a look at what Europe is going through trying to standardize. The Fed is certainly not perfect, and Alan Greenspan (no relation) made serious mistakes, but the Fed is not the main villain in the current economic situation.

	Chris Wooten / October 31, 2011 at 12:29 AM EDT Is it true that the FRB is a private institution and makes a profit from lending vast amounts of money?

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-3		Create our own banking system that isn't beholden to the Federal Reserve.
		We're working on tools and techniques people can use to enhance their economic relationships without using Federal Reserve Notes.


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