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<p>[QUOTE=&quot;fatima, post: 1212737, member: 22143&quot;]To answer your question, it might have never been if the government was controlling the economy as it does now.&nbsp;&nbsp; Incentives to take the risk on that made that expansion possible would have been removed as government interference in the free market, the Federal Reserve disingeniously refers to this as &quot;intervention&quot; would have made it impossible.&nbsp; &nbsp; </p><p><br /></p><p>There is a simple test to the validity of the Federal Reserve system.&nbsp;&nbsp; That would be to resume a gold based currency that ran alongside the FRN and let the people choose which one to conduct their commerce in.&nbsp;&nbsp; There is no need to eliminate the Fed by law.&nbsp;&nbsp; However if this were to happen, I would bet my gold on which would prevail.&nbsp;&nbsp; If the Federal Reserve can&#039;t exist without these kinds of artificial protections, then it has no legitimacy.[/QUOTE]</p><p><br /></p>

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