Unchain America! Step one: Fed-exit.

DECOLONISE AMERICA. RESTORE FREEDOM, PEACE AND PROSPERITY!

Ron Paul: Don’t Reform The Fed, Fed-Exit! – OpEd

Opponents of a central bank should take advantage of the post-Brexit vote revival of secessionist sentiments to promote a secession from central banking, or “Fed-exit.” Ending the Federal Reserve’s monopoly on money is the key to restoring and maintaining our liberty and prosperity.

The Fed’s action affects the entire economy and impacts the lives of all Americans, as well as of people around the word. Therefore, it is no exaggeration to say that the attempt to fix interest rates is the most harmful example of price fixing.

In recent years, many progressives have joined libertarians and conservatives in criticizing the Federal Reserve. Progressive Fed critics often focus on the ways the Fed’s policies benefit big banks, Wall Street, and other special interests, and how the policies harm average Americans. Unfortunately, but not surprisingly, many progressives do not want a free market in money. Instead they want a more “democratic” Fed. Thus, progressives favor, for example, requiring that more members of the Fed’s board be confirmed by the US Senate. They also favor putting representatives of “public interest” groups on the Fed’s board.

The Fed’s progressive critics are correct that big banks together with powerful financial institutions have too much influence on monetary policy. While implementing progressive reforms may reduce Wall Street’s influence on monetary policy, it will likely also strengthen the influence of the deep state — that network of crony capitalists, lobbyists, congressional staffers, and others who work behind the scenes to control our economic and foreign policies.

Many progressives believe that middle- and working-class Americans would benefit from a more “stimulative” (meaning inflationary) monetary policy. Saying that inflation would help the average American turns reality on its head. Middle- and working-class Americans are the main victims of the Fed’s inflation tax. Average Americans also suffer the most when the bubble created by the Fed’s inflationary “stimulus” inevitably bursts. The true beneficiaries of inflation are crony capitalists and big-spending politicians.

Instead of fruitless efforts aimed at “reform” of the Fed, those concerned with restoring a true free market, reducing economic inequality, and promoting peace and prosperity for all should work for a “Fed-exit.” The first step, of course, is to pass Audit the Fed.

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