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A friend of mine said that the only reason why we have recession/depressions is because of capitalism. I posted the following. Actually, the only reason we have recessions and depressions are because of the state's manipulation of the money supply. Due to it's monopoly on currency, the state...
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[quote user="limitgov"] Q1: In essence Bank of America has its own notes as does chase and now markets have to pay for the overhead in maintaining such a number of different currencies and prices of goods have to be constantly changed per the currency you hold as in buying a can of beans may...
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[quote user="TelfordUS"] But once those banks die, wouldn't others take its place? [/quote] Exactly. There is no reason not to abolish the Federal Reserve.
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What would be some of the positives and negatives of abolishing our central bank system? Or what if the fed was nationalized?