Quote:
Originally Posted by mikey_the_redneck
The Fed (fractional reserve banking) needs to be nationalized or shut down and the Glass–Steagall Act reinstated.
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The US got into this mess, in part, because its leaders prefer to score short term political point over maintaining the overall financial health of the country. If they do that with the budget, what makes you think they'd be any better at managing monetary policy with a long-term view?
And did you just suggest shutting down fractional banking? Yeah, the economy would be awesome with about 90%* of its money supply wiped out overnight. I can't emphasize enough how stupid that would be.
*Not exact, but about right.