About the how legit is the Federal Reserve Bank?

1. No I do not agree.... and neither does history. The First Bank of the United States was chartered in 1791. The Constitution was ratified in 1787. The charter of the Bank was PURSUED by many of the same men present at the Constitutional Conventions.... including being championed by Founding Father and first Secretary of Treasury, Alexander Hamilton.

It was a PRIVATE institution when it was chartered. It issued stock, and paid INTEREST on the money it issued. You see.... a brand new country does not have the ECONOMIC POWER to simply print money. Such money would not be worth the paper it was written on unless there was something backing it. At that time it was gold.... BORROWED gold.

The Constitutional arguments were tested in 1791.... and found to be LACKING by many of the same men who participated in WRITING the Constitution. But..... Southerners and State's Rights proponents have been arguing that this was illegal and improper SINCE 1791. The argument has no more merit NOW than it did THEN.

You see the Southern economy was agricultural and did not need a large money lending institution to thrive. The North was heavily industrial.... and large scale industry requires large scale capital investment.... which requires banks. At the time every state had a bank... and there was no uniformity of currency between the states. Industry cannot operate in this way (cannot be playing by different rules with money of different values in every state you do business in.... even if it is only 13 different states). Thus the Banks of the United States made POSSIBLE industrialization..... if not for these institutions (The Federal Reserve Bank is simply the latest incarnation of a number of national banks) we would likely still be an agrarian nation.... as we were at the turn of the 19th Century.

2. Libertarian Party is the most notable. (They like to ignore the above history..... and parrot the same ineffectual arguments made in 1790 as though they were reciting FACTS about the Constitution. For the record, the Constitution was left INTENTIONALLY vague and subject to interpretation. Had it not been, it would never have been ratified by the states. This was understood as fact in 1787, that there were still many issues to hash out. And since that time there have been those who argue it can only be interpreted ONE WAY... and it is always THEIR way of seeing it).

Truth is, PRECEDENT is everything in our system of laws.... and there has been precedent for a PRIVATE, INTEREST-PAYING national bank since 1791. It isn't going anywhere.... and is in fact VITAL to the health of a modern economy. A complex economy such as ours would CEASE to function without a strong national bank.... a simple fact Libertarians apparently either ignore or cannot intellectually grasp.

See the currency panics of 1873, 1884, 1893, and 1907 respectively for examples of what happens when you have no strong national bank to control economic policy.

And keep in mind that when the Fed was created in 1913.... there were STILL 30,000 different currencies circulating in the United States. Everyone from Standard Oil to your corner grocery was issuing currency.... some backed by bonds, some by gold, some by silver.... and some backed not at all (just credit accounts backed by a man's promise to pay at a later date). If you are still in the dark about why this is a problem....try buying a new Ford with 30,000 car wash tokens.

3. Yes/Yes (Although we are not on a gold standard... so Ft. Knox gold is really only useful for paying international debts and such).

4. Because one ALWAYS pays interest on money one BORROWS. That is how money lending works.... without interest their is no incentive to lend. If the money is NOT borrowed, merely printed without borrowing, then the result is devaluation of existing currency (diluting the existing pool of money) which is what we call inflation.... and that is EXACTLY what we will be facing when economies around the world begin to grow again. We printed money without borrowing... we diluted our own pool. It may have been necessary.... but we will have to face the consequence.

There is no free lunch as the man says.

1. Do you agree , and what is your opinion on the matter?

I hate Andrew Jackson more than any president we've ever had. He's the only one that actually committed genocide. He hated national central banks. He had a few good points, but he was such an ignorant drunken violent overbearing fool that the way he handled it was outrageous, and his mismanagement of the situation led to some of the most violent economic cycles in the history of western civilization short of the Weimar Republic.

2. Can you list links of legitimate organizations that are politically trying to get this changed?

Cato institute. Libertarian party. Ron Paul republicans. Can I list links? Sure.

Am I going to? No.

3. Has Fort Knox ever been audited and how often? (Is our gold still there?)

Internally? Constantly.

Externally? Once. Yes it is.

But, quite frankly, the might of our nation does not rely on Gold.

4. Why should our government pay interest on issuing our own money?

In order to control the currency. Markets must be caged or they get out of the zoo and eat everything and everyone in their path.

Due to time constraint, I'm gonna be pretty brief.

1.

No. The Federal Bank is a fraud, form its inception. Just read a bit of history on how, and when it was founded. It was not the supreme court. It was Congress. Read a bit about it.

2.

Ron Paul

3.

Well, They audited before. And years have passed. According to Ron Paul, the gold is no more here. Nowadays, the currency is backed up by.... well...... printed paper! And thats lame! For the only thing that really gives the current currency's validity, and legitimacy is govt. policy.

4.

Well. Many answers to that one. Here are some:

Govt. is corrupt. Does not serve the nation, instead serves big corporations. In fact, to properly understand the reasons, i'd suggest theses resources: The creature from Jekyll Island.

And, there are some very good documentaries on that issue...

1) Its not really legit but for some reason the Supreme Court allowed it, so technically one could say it is legit.

2) There are a few but I don't have a link, Ron Paul

3) Our money has nothing to do with the gold in fort know anymore

4) Our government does not issue the money , the federal reserve bank issues the money. The government wants it this way because it allows them to spend on credit and not be limited by the amount of taxes or treasure that it owns

the purpose of the Federal Reserve monetary enterprise is to make inflation greater suitable on a similar time as printing funds the cost of it fairly is held up by employing no longer something greater suitable than "warm Air". Inflation is a internet properly worth tax on All mark downs. through this there is little monetary mark downs interior the U. S. at modern-day. it fairly is why you may desire to purchase Gold & do no longer overlook whether it fairly is no longer on your hand, you have not got it.

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Drug money.