Should central banks be abolished?

Should the Fed be abolished

  • Yes

    Votes: 6 35.3%

  • No

    Votes: 11 64.7%
  • Total voters
    17
Banking History 101: Between 1819 and 1910 in the US there was a banking crisis in every 9 years on average:

The panic of 1819, 1837, 1857, 1873, 1884, 1890, 1893, 1896, 1901, 1907.

Since the Fed has been established we had like what, 4 in 110 years? Any imbecile wants the 1800s back?

Put it in other way, in the 30 years leading up to the Fed's birthday, there were 6 banking panics, so one in every 5 years! Also, name a real country (not Tonga or Monaco) that has no federal bank. Actually, even Tonga has a central bank.

The only real country without a central bank is Panama. They don't need one because... [finish the sentence]
 
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The Fed can't be abolished except by an Act of Congress. This is unlikely to happen for self-serving reasons of financial repression. However, it can, like many central banks, become irrelevant. That's the greater issue.
 
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