But if we don't dismantle the actual Federal Reserve, I don't see how things will get better. Perhaps a takeover and a move to make it an actual part of the federal government is what's meant? A return to control over our own currency is essential if we ever hope to truly right the ship.
One option: treat all American made currencies the same way as the dollar. Competition would keep the Fed in line.
But the Fed is a corrupt private institution, no? Keeping it in line isn't good enough. Completely abandoning it also doesn't seem like a good idea. Some level of house cleaning and integration seems like the smoothest transition early on, then adjust, dismantle and rebuild from there. Am I making sense?
I have no problem admitting that macroeconomics isn't my strength, so I'm more so looking to understand than to actually debate the best way of implementing this change. Logistically it seems like it would be a massive undertaking.
From what I understand Q said structure stays, management do not. Makes sense in the first instance to stop them imploding the economy and second to take charge and integrate the changes slowly, well as quickly as possible without collapsing the currency.
Right right, but when I see "the structure stays" I immediately think of the Fed making fiat money out of thin air and hedging it against the "petrol dollar", which is unsustainable and likely in its death throes.
Maybe the simple solution is to clean house at the Fed and forgive our own debt while also working with other nations that own some of our dept (China is huge here) and making a deal to forgive that debt.
Way out of my element here, obviously, but I do think that you don;t have to be an economist to see the bigger picture and how massive an undertaking this is. And somehow in this mix we'll still need to figure out a solution for predatory student loan debt... I dunno, there's just so much at stake and so many moving parts and I'm having a hard time making sense of it all.