We should to get rid of the Federal Reserve.

"Now, many notable presidents have warned us of the dangers of having a Central Bank. Two of which have abolished Central Banks during their terms as president. These presidents are Thomas Jefferson and Andrew Jackson." Your facts are a tad bit off, while Thomas Jefferson has made a famous quote about central banks which you have inevitably posted, he has never abolished any. The First Bank was signed into law by one very eclipsing founding father, George Washington, and Hamilton who pushed it forward. The First Bank of the United States 20 year charter ran up for renewal, and was denied by Congress. The Second Bank of the United States, which was created partly to stabilize inflation after the War of 1812, was destroyed by Andrew Jackson via vetoes in 1833. It should be noted that a large group of congressmen, formed their own party in attempts to override Jackson's veto. It should also be noted, that they were talking about completely different central banks.[1] "No it is not actually. It's quite easy to say so when they don't have to answer the government. They don't even have to tell us how much money they make. This is why people like Ron Paul are trying to get bills passed in the House of Representatives that would audit the Fed. Which simply means that we would be able to figure out much money the printed." The Office of Inspector General is charged with auditing The Federal Reserve, and The Federal Reserve often keeps its records private for about 5 years before releasing them to the public. Congress can directly force The Federal Reserve to release its records after 5 years if they the Reserve withholds them.[2] Secondly, The Federal Reserve prints no currency, Department of the Treasury print currency.[4] The Federal Reserve simply buys government bonds for a small price, or sells them, creating an increase or decrease in interest rates.[3] Ron Paul's attempts to fully audit The Federal Reserve is very popular among libertarians, but could have dire consequences. First I would like you to deeply consider that Thomas Jefferson also did not believe in a strong federal government. By fully auditing The Federal Reserves, central government could influence monetary policy. I will emphasize this connection again, The Federal Reserve is as much a part of the government as The Supreme Court, without being directly influenced by it. The Federal Reserve is granted any and all of its authority by Congress. Congress may pass laws, and enact them on The Reserve, and has done so 12 times already [1]. The Reserve is both private and public [8], it does not run amuck in the global economy, causing inflation and spitting on poor children everywhere it goes. "Again, this points out how the Fed is outside of Government control. I think it is important for congressional approval before the Fed starts printing up billions or even trillions of dollars." The Federal Reserve pays off all of its expenses and returns the profit to the U.S. Treasury. In 2008, The Reserve handed over the 31.7 billion dollar profit to the Treasury.[1] In the first round I gave a website that explained in great detail the reasons its important for the Federal government to "create money". The Federal Reserve must regulate the amount of cash in circulation to stabilize the economy. [6] "This is a simple question. You replace the Fed with U.S. Treasury Control and replace the Federal Reserve Notes with United States Notes. Thus bringing the money control of the nation back to the congress, where it rightfully belongs according to the Constitution." This would be giving your government direct control over the economy, as The Federal Reserve is a more indirect control, which must operate within restrictive bounds of government policy. The Constitution was in part set in place to restrict government powers, if you think about it, you're suggesting handing it over to them. And no, originally the Constitution was interpreted as following. The federal government is not granted the power to issue paper currency. This was changed by Abraham Lincoln during the Civil War. [5] "I find this quote ironic because the Fed caused all the economic problems ever since it's creation. The most notable one being the Great Depression. The cause these recessions and depressions to buy out smaller banks and institutions." Okay while I can't quite understand the second sentence (please rephrase, check spelling, etc.), I can address the first. The Federal Reserve did not cause the Great Depression, but has been blamed for causing it due to its inaction. Inaction from government policy and regulation at the time, which put a pressure on the Federal Reserve and a limit on the allowable credit the Reserve was allowed to introduce into the economy. [1] http://en.wikipedia.org... [2] http://www.federalreserve.gov... [3] http://wiki.answers.com... [4] http://www.treas.gov... [5] http://en.wikipedia.org... [6] http://www.econbrowser.com... [7] http://en.wikipedia.org... [8] http://www.federalreserve.gov...