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I know. Right? 😀
And we can make a strong case that the federal reserve act is unconstitutional.
The whole convoluted arrangement is ridiculous
Definitely. The big banks own the fed. Once they lose power, maybe the argument might have a chance. That's a long ways off.
The best time to repeal Federal Reserve Act was during the Great Depression
Also… An Act to provide for the establishment of Federal reserve banks, to furnish an elastic currency, to afford means of rediscounting commercial paper, to establish a more effective supervision of banking in the United States, and for other purposes
To furnish an elastic currency?
What does elastic mean? lol
Elastic? That's for sure!
The best alternative but also unlikely is to increase money supply by 2 percent every year regardless of crisis or emergency.
Set it and forget it.
I have a stupid question: how can there be bank failures when the federal reserve act was passed in 1913 to prevent bank failures?
What am I not seeing?