Quote:
Originally Posted by knowledgeiskey
Ron Paul wants to get rid of it. That's not the proper way to change it.
The federal reserve needs to work for the working man instead of the financial industry.
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What you're asking for is the impossible. A central bank inevitably leads to exactly where we're heading...inflation, a weakened currency, massive debt, and eventually collapse. The whole idea of a planned economy with a central banking system will eventually be the death of us. There is no tinkering around the edges or minor tweaks that can save us, we need wholesale change. The Federal Reserve is the central cancer that plagues our nation and until we get rid of it we can't ever truly recover.
To answer the OP the Fed is never challenged politically because it's too beloved by the establishment, Wall St, and the MIC to ever be politically advantageous to challenge. If we didn't have a fiat currency with a central bank we couldn't live in the economic delusion we live in now. Right now we believe we can have a massive welfare state along with a massive warfare state, all of our entitlements, corporate subsidies, and large tax cuts all at the same time. Basically a Federal Reserve allows people to believe they can have their cake and eat it too.
If we didn't have a fiat currency eventually we'd have to start raising taxes to pay for all of our spending and then we might have to actually look at cutting spending. Right now politicians can spend money like a drunken sailor with a wallet full of credit cards. But eventually we'll sober up the bills will come due then we'll be forced to change our system but it'll be more painful.
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