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Politics, News & Issues > Political & Economic Theory Should the United States abandon the Federal Reserve?

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The Federal Reserve System was a very bad idea and is exactly what the founders had foreseen and wanted to avoid in Article 1 section 8 of the constitution, where it states that only congress shall have the ability to coin money and regulate the value thereof.

When a country's money is carried by tangibles, such as precious metals, there would be no inflation, only true markets. In 600 AD a Roman citizen with an ounce of gold could buy a very nice wardrobe. In 2008 an American citizen with an ounce of gold can purchase a nice suit. Things are not becoming more expensive, our money is w...

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