LogFAQs > #905163922

frozenshock posted...

tennisdude818 posted...

I care about poverty rates and high prices, thats why I want to end the Federal Reserve and I want to stop paying single moms to have kids. But Im not going to rob people of their agency, regardless of the bad incentives that the government creates.

End the federal reserve?

I suppose you want to go back to the gold standard or something?

Id prefer free market money, but the gold standard would be an improvement if banks dont have the legal privilege to inflate the money supply. Thats what caused many booms and busts before the Fed existed.

The Fed pushes interest rates down and enables the government to borrow enough to fund the forever expanding welfare/warfare state. It also creates booms and busts because when you fudge interest rates downward, you crowd investment towards long term projects that arent supported by economic fundamentals (like housing, dot coms, etc.)
---

"I have never understood why it is greed to want to keep the money you have earned but not greed to want to take somebody else's money." Thomas Sowell