POLL: Question for Gold Bugs, Fed Haters, and Others - Which is Worse?

[What Would Jesus Do?]

A lot of folks here lament going off the gold standard. A lot here also lament the creation of the Federal Reserve. There's some overlap, but some begrudge one more than the other, or one and not the other. Where do you stand?

 

[Huey Grey]

Getting rid of both the Fed and the gold standard would be disastrous to our economy. Before the Fed, recessions typically lost at least 20-30%. After the Fed, those losses average less than 5%. It is indisputable that recessions have been better under the Fed. Way better.

 

[What Would Jesus Do?]

Getting rid of both the Fed and the gold standard would be disastrous to our economy. Before the Fed, recessions typically lost at least 20-30%. After the Fed, those losses average less than 5%. It is indisputable that recessions have been better under the Fed. Way better.

Can we get the benefit without handing that much power to private banks?

 

[Pepperman]

Getting rid of both the Fed and the gold standard would be disastrous to our economy. Before the Fed, recessions typically lost at least 20-30%. After the Fed, those losses average less than 5%. It is indisputable that recessions have been better under the Fed. Way better.

Are you talking about stock market losses during a recession?

If so, this line of thinking is very dangerous as the Fed is not supposed to make policy based on what the markets are doing. The markets can work themselves out as long as the Fed follows its mandate and doesn't manipulate asset prices.

To be clear, this current Fed has greatly me and others who are fortunate enough to own stocks. It is a disaster to the lower middle class and "poor" who don't have a portfolio that's soared. Eventually though, this will be viewed as awful policy, because all they've done is manipulate asset prices for the last 15 years or so.

 

[strummingram]

Getting rid of both the Fed and the gold standard would be disastrous to our economy. Before the Fed, recessions typically lost at least 20-30%. After the Fed, those losses average less than 5%. It is indisputable that recessions have been better under the Fed. Way better.

You're one dangerous man.

 

[strummingram]

The Federal Reserve Act, 16th Amendment were two of the MOST damaging (if not the most) pieces of legislation in the entire history of the country. It's easy to learn just how bad, how calculated, and how much was at stake.

To answer the OP: If you never allow the Fed, you can probably avert the gold standard removal. The Federal Reserve is, without question, the worst institution ever created.

 

[Besthawkfan]

Getting rid of both the Fed and the gold standard would be disastrous to our economy. Before the Fed, recessions typically lost at least 20-30%. After the Fed, those losses average less than 5%. It is indisputable that recessions have been better under the Fed. Way better.

The 20 to 30 percent losses usually lasted for a year or less. Now the percentages are fraudulent, but about the same and they last for a decade.

 

[Besthawkfan]

Also, it doesn't have to be a gold standard. Other things can be used. Hitler used real estate to borrow against to turn the German economy around and it proved to be effective. Not all nazi tactics were bad. Lol

 

[strummingram]

Also, it doesn't have to be a gold standard. Other things can be used. Hitler used real estate to borrow against to turn the German economy around and it proved to be effective. Not all nazi tactics were bad. Lol

Exactly, it can be anything.

You must have sound money for a stable economy. It's really basic stuff.

 

[Nat Algren]

The Fed's stated mission is to provide stability for the dollar. To that point, it has failed MISERABLY and should be disbanded immediately. It is an instrument of war. Kill this hydra-headed monster, banking cartel of Elitists and wars will become close to extinction.

Prior to 1913, inflation was virtually non-existent. Post 1913, we have had a recession every 3-4 years, a Great Depression, a Greater Depression and perpetual war with untold death in its wake.

From the Fed's own website, look at how they have destroyed our currency. Of course, they lie about inflation anymore, since they do not factor in food and gasoline.

https://www.minneapolisfed.org/comm...culator-information/consumer-price-index-1800

 

[ottumwan in tx]

they are both about as bad as each other, they both work hand in hand