Abolish the Federal Reserve, End The Job Rotation

[WhiskeyGirl]

I've listened to Barney Frank on tv talking about ending Freddie/Fannie.  Who gets the royalties from the Cap & Trade software?  Is that the next big taxing/spending item to be foisted onto the back of America's lower classes?

Are Freddie/Fannie about to pay off big time for someone?

But, Bernanke insisted, it isn’t all the Fed’s fault. The Fed has been trying to “fix” it. In addition to keeping interest rates “very low,” it has “provided monetary policy stimulus through large-scale purchases of longer-term Treasury debt, federal agency debt, and agency mortgage-backed securities,” Bernanke said. That “stimulus” runs into the trillions of dollars — all appropriated by the Fed, not Congress — and used to purchase all sorts of debt and manipulate markets across the board.

http://www.thenewamerican.com/index.php/economy/commentary-mainmenu-43/4115-bernanke-fed-could-step-into-new-areas

Isn't it possible that the job rotation between the Fed, Congress, Wall Street, big banks, and their friends and families is part of the problem?

Maybe it's time to abolish the Federal Reserve?

Bring some new blood into our financial system?  Smart people that don't come from elite universities, elite families, and financial institutions?

People without the baggage of family and friends? 

Smart people who are FOR America?

Maybe we need a new America, for Americans?  Organizations that work for "We the people..." instead of foreign banks, business, governments, and global players?

just my humble opinions and questions.

[WhiskeyGirl]

“There‘s a lot of deception, and the people sense this,” he said during a July 14 Congressional meeting of the Joint Economic Committee, criticizing the use of borrowed and newly printed money to create a false appearance of economic growth.

He explained that the supposed growth in America’s Gross Domestic Product was due to flawed calculation methodology. “You know, if we spend a billion dollars on a missile and we blow it up, that counts as an increase in the GDP,” he explained. “It didn’t give us a house, it didn’t give us healthcare or education — so there’s a big difference.” Including government spending as a measure of GDP has been controversial among some economists, since the state doesn’t actually produce any wealth.

“If you measure the GDP that goes up because of borrowing, inflating, and spending — and look at that with a better perspective — I would say that maybe the real GDP isn’t going up, and maybe that’s why we’re not having real growth,” Paul explained. He also criticized the prevailing mythology that government is somehow exempt from economic laws.

Bernanke has been proven unbelievably wrong — over and over again. Austrian-school economists, like Ron Paul, have been proven right. The Fed’s threats to step into “new areas” and consider new “tools” should be considered a grave concern, since every area the central bank steps into ends up a disaster (except for insiders). The more it expands its operations, the worse off the country and the economy will be.

From the same article...maybe we need people who have good ideas?