Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By Dr. Bob Uda, Ph.D., CM, CHSP, ILO (Reporter)
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

Replacement for the Fed

% of readers think this story is Fact. Add your two cents.


I had suggested abolishing the Federal Reserve System (also known as the Federal Reserve or just the Fed).  Someone then asked the following questions: What exactly is the plan to replace it?  How can we do that in this century?

The following is my response: That is why we pay these people big bucks—to come up with a plan to replace it and solve the money problems.  The Fed is the central banking system of the United States.  The Fed concentrates too much power in a single banking organization in the United States.  We get into problems when those who run the Fed are corrupt and are criminals.  That is why we are in financial trouble as a country.  Those who run the Fed without any accountability to the Congress or to any independently auditing body have stolen too much money.  Have you ever wondered why they do not want to audit the Fed?  It will reveal all of the stolen money; that is why.  This is why we need to abolish the Fed.  We should take the following steps to replace the Fed.

First, which department of the president’s cabinet has the responsibility for money?  It is the Treasury–of course!  Then, why do we have The FED, a quasi-governmental organization, handle the nation’s money?  The FED is causing our current inflation trends by deploying currency printed by the U.S. Mint that but not backed by gold and distributing it as legal tender.  Printed currency not backed by gold causes inflation of the cost of consumer goods!  Soon, we will have hyperinflation.  When hyperinflation hits and the value of a dollar bill goes down to nearly a penny or nothing, gold will retain its value better because it is not subject to inflationary pressure as much as is paper currency.  The Treasury, through the U.S. Mint, should print only currency backed by gold.  The Mint shall henceforth print no currency if not backed by gold.

Second, the jokers in Congress really do not want to solve our deficit spending and national debt problems.  They just want to keep taxing and spending and raising the national debt limit.  Hence, they are not interested at all in solving our runaway national debt problem.  We must stop Congress’s spendthrift practices.  We must stop taxing the people and, instead, lower tax levels to stimulate small businesses to hire more workers.

Third, Congress needs to stop the runaway debt increase by reducing the federal budget by 10% every year for the next 10 years.  Simultaneously, they need to apply zero-based budgeting (ZBB).  If you are unaware of what ZBB is, Google it and read up on it.  We must stop increasing the national debt level.  We must start living within our means.  Do not spend more money than what comes into the Treasury.  Congress should live to a balanced budget.

Fourth, eliminate or drastically reduce all of the hundreds of entitlement programs that our Congressmen errantly created over the past half-century.  People have become too accustomed to entitlements that they begin to feel it is a right.  They even riot in the streets and cause much vandalism and destruction of property when their entitlements run out—as it has in Greece.  Our stupid politicians caused the dire condition we are in including the inevitable collapse of the world economy.  They do not know how to solve the problems.

Fifth, replace all of these yoyos handling the budget and spending with competent people who know what they are doing.  Replace tax-evading Timothy Geithner as secretary of treasury and put in an honest person, not a crook.  The Secretary of the Treasury shall not be associated in any way, shape, or form with both the Bilderberg Group and the Council on Foreign Relations.

Sixth, we should never have allowed the bailouts and stimulus plans.  Instead, we should let the economy collapse and go into a depression.  People would then learn how to survive and become stronger and better for it.  Prolonging the collapse that will be sure to come by “kicking the can down the road” is not the way to handle the major financial and economic problems we have before us.  Eliminate all future bailouts or stimulus plans.  They shall be verboten as future ways to solve economic problems because bailouts and stimulus funds only exacerbate problems.  They do not solve problems.

Seventh, we should not only abolish The FED, but we must also abolish both Fannie Mae and Freddie Mac.  Those criminal organizations run by criminals caused our housing collapse and banking problems.

Eighth, stop wastefully pouring money into all foreign countries as foreign aid.  We are wasting money on financing crooked countries that hate us no matter how much money we give them.  Cease and desist with this wasteful practice.

Ninth, stop the wasteful wars we get into when it is neither providing national security nor national defense.  We cannot continue to be the police officer of the world.  We should not be involved in nation building.  Get out of Afghanistan, Iraq, and Libya now!  These frivolous wars are bleeding our country dry.

Tenth, we can go on and on and on but will stop here.

Someone suggested using weapons-grade plutonium (WGP) as the standard instead of gold.  That is not a feasible idea because WGP is more costly than gold to manufacture.  We manufacture it through an extensive process that is very costly.  That is why the WGP is so expensive.  WGP does not exist in elemental form.  Gold, on the other hand, is in its natural, elemental form and does not deteriorate much with passing time.  That is why gold is the best standard for purchasing power, which is ahead of silver and other rare metals with intrinsic value in their natural state.  An ounce of WGP may be worth a hundred times an equivalent ounce of gold.  However, it took an exorbitant amount of gold to produce that ounce of WGP.  Hence, the WGP would not be a good standard to replace the gold bullion.

###



Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST


Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)

Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen!

Nascent Iodine - Promotes detoxification, mental focus and thyroid health.

Smart Meter Cover -  Reduces Smart Meter radiation by 96%! (See Video).

Report abuse

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.