Currently the FED prints dollars and lends it to local banks (often at zero percent).However, why are they lending it? Why not just sell the currency for the cost of printing and administration overhead? If you give me a trillion dollars - that cost you 50 million to produce - and expect a trillion in return, that is a 20,000 percent markup on your product!Therefore Libertarians and independents are smacking their heads asking why?! Why do we engage in a monetary system that has such immense cost and automatic debt to us the tax-payer? Please help me out and explain if I have misunderstood the system.thank you!
Ending the fed does not equal nationalize central banking. Whoever told you that was trolling you
The government still has tight control over the printing of currency, the Federal Reserve just issues digital money. Congress, in Article I Section 8 is charged with the control of our money, a power they haven't exercised for a long time. They just want Congress to end the delegation of that power to a central bank.
Many different causes exist and have existed. Our present (Federal Reserve) banking approach is the current enormous purpose. Creating money from nothing messes up capitalism and socialism alike. When moneydebt and debt is considered an asset, any system goes loopy. We are living in an upside down economic truth so Adam Smith's explanations do not work as good as they will have to. As for crony, there has perpetually been corruption, however now not far and wide or normally.
