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<p>[QUOTE=&quot;Numbers, post: 652858, member: 11668&quot;]I say, give me a <i>break</i> already.&nbsp; <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie11" alt=":rolleyes:" unselectable="on" unselectable="on" />&nbsp; Our government used to issue its own currency, and that system didn&#039;t work so well; that&#039;s why the Federal Reserve Banks were created in the first place.&nbsp; When Congress is directly in charge of issuing the currency, they&#039;ve got political incentives to create too much (to satisfy their constituents by making credit easy to get) or too little (to look good by keeping the budget balanced), and it&#039;s not good for the economy to be adrift at the mercy of the political winds of the moment.&nbsp; As we&#039;ve seen in the past few years, it&#039;s tough enough to keep the economy on an even keel even <i>with</i> the Federal Reserve in the mix.</p><p><br /></p><p>Also, the Federal Reserve is a whole lot more federal than FedEx: For one thing, by law, 100% of the Federal Reserve&#039;s profits go into the U.S. Treasury.&nbsp; For another thing, all of the Fed&#039;s high officials are appointed by the government.&nbsp; And then, of course, the Fed was directly created by an act of Congress back in 1913, too....&nbsp; Never mind Federal Express--not even General Motors is <i>that</i> federal!&nbsp; <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie2" alt=";)" unselectable="on" unselectable="on" />&nbsp; A better analogue would be the U.S. Postal Service, which like the Fed is a government corporation...except that the USPS operates at a substantial loss recently, while the Fed actually provides some revenue to the government.[/QUOTE]</p><p><br /></p>

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