We should to get rid of the Federal Reserve.

---------------------------------------------------------------- "It is hard to say that The Federal Reserve is outside government control. " 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 Federal Reserve is largely in place to help neutralize the effects of inflation, and prevent a large-scale failure of banking systems. " Again, the Fed is printing or creating mass amounts of money out of thin air to help the government pay off the debt to them. As we all know, creating money out of nowhere brings initial prosperity in the market, but after that money loses it's value do to the inflation that it caused, there is usually a recession afterwords. Also, this system is making the poor poorer because the government fails to increase the minimum wage to meet with the inflation. "The Federal Reserve largely regulates monetary policy of the country discretely, without need to go through lengthy Congress approval. " 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. "Maintaining the stability of the financial system and containing systemic risk that may arise in financial markets" 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. "And lastly, I must ask my opponent, if he still thinks The Federal Reserve System should be abolished, to explain in some detail a possibly better system he may have come up with, and its advantages. " 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. 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. "The bold effort the present bank had made to control the government . .. are but premonitions of the fate that await the American people should they be deluded into a perpetuation of this institution or the establishment of another like it. " -Andrew Jackson "I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a moneyed aristocracy that has set the Government at defiance. The issuing power should be taken from the banks and restored to the people to whom it properly belongs. If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them (around the banks), will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered. "