Ahh, “end the fed” doesn’t mean end the fed, OK. Because if you did end the fed, you’d have unregulated banking and maybe a return to wildcat banking which um, would probably not be better for your long term finances.
A quick perusal of Wikipedia’s article on the history of banking would reveal that banks figured out they could lend out more than the amount they had in deposit well before the concept of a central bank came into being, and the central banks’ role has historically been to keep things at least somewhat under control. So again, to put it simply, blaming the fed seems totally misguided here.
I don't think you understand how catchy phrases work. You don't make your phrase 50 words long to accurately convey your thoughts or it will never catch on. The majority of those advocating for ending the fed are Austrian economics supporters who consider the Fed, and the things they are involved with, to be things that need to end and use the phrase end the fed to encompass all of that.
Heh. I think it’s more likely most people saying that don’t really know what it’d entail.
For instance without our current banking and financial system you’d have to pay banks to look after your money, if all they were allowed to do with it was hold on to it. This would have a similar drag on your principal as inflation does on buying power.
A quick perusal of Wikipedia’s article on the history of banking would reveal that banks figured out they could lend out more than the amount they had in deposit well before the concept of a central bank came into being, and the central banks’ role has historically been to keep things at least somewhat under control. So again, to put it simply, blaming the fed seems totally misguided here.