Can Liberals Explain All The Benefits Of Having The Federal Reserve Bank...

[CargoPilotII]

...And A Fiat Money System? Since liberals tell us they are so much more intellectual than us unsophisticated conservatives, can any liberal explain all the wonderful benefits of a fiat money system, controlled by unknown owners who cannot be audited, over the money system the Founding Fathers intended?
When I say fiat money, I don't mean the car.

 

[ThomasJefferson]

"over the money system the Founding Fathers intended". Any economist will tell you that Fiat money systems are far superior to money based on silver or gold standards. It makes the economy more flexible and prevents depressions.

There isnt enough gold to back our 15 trillion dollar economy.

 

[CaptainObvious1]

very much conservative but heres the best analysis I have found.

http://www.optimist123.com/optimist/2007/05/sound_money_ver.html

 

[phoenix]

The Federal Reserve Bank was a prime cause of the depression in the 30s.

 

[SchiffHappens]

You can create money and give it to banks to make risky loans and speculate on US stocks.