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So just what is the benefit of us employing the “Federal Reserve” anyway?

How are they benefiting anyone other then the Banking Industry and the Politicians that insist upon employing them? (FYI: The “Federal Reserve” is a Contractor to the taxpayers and NOT a part of our Government) Because I don't agree with everything you think, don't make me a "Liberal".

Public Comments

1. Didn't FDR create it? (Yes, folks, eventually all liberals learn the horror that is democrat leadership, though they blame republicans and it takes 70 years to get there.)
2. Whats the benefit for us? Nothing. But for them , billions and billions. Fire the contractor, take back our country and our freedom.
3. The short answer, they can do whatever the hell they want. They are not capricious, they don't care about the political cycle, they don't care who is elected to Congress. They want to create wealth by creating stability and, yes, predictability to the currency markets. They are tasked to be independent, yet their butts depend on maximizing the monetary potential of the system. Bernanke is more powerful than the President. He knows this, and does not take the burden lightly. The banking industry is addicted to consumerism. If the consumer doesn't consume, the banking industry is in dire straights.
4. There is no benefit to us. They are largely responsible for where we are right now.
5. The question is "compared to what?". Imagine if the politicians had direct control over the money supply and interest rates. I saw Bernanke the other day talking about the need to rein in the money supply, sounded like he might not be willing to print unlimited dollars to buy bonds and support Obama's asinine spending plans. Made me glad that there's at least one grown-up, non political hack in power. I'd prefer a currency backed by hard assetts though.