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Because it gives the fed the power to control the economy. That's why it exists...
by deelowe 4y ago
Because it gives the fed the power to control the economy. That's why it exists...
- ausbah 4y agothings would be much worse off without the Fed. look at hard banks lobby to up end the minimal restrictions they have now
- deelowe 4y agoWhy the downvotes? Is this not why fractional reserve banking exists? Please correct me if I'm wrong. Without it, the Fed would have very control over inflation/deflation. By the way, I'm not arguing against the Fed. I'm against fractional banking, or at least feel they should require banks to offset their liabilities more than they do today. We're literally discussing an example of why the current system isn't good.