Thread: Federal Reserve is unconstitutional

Originally Posted by fabijo

These past couple of weeks, I've been fascinated by Republican candidate Ron Paul. Here's a video of him talking about the economy and the federal reserve. In his words, the federal reserve is unconstitutional and is detrimental to the value of the dollar:

This question is as old as the country and was decided in McCulloch v. Maryland. http://en.wikipedia.org/wiki/McCulloch_v._Maryland. Congress has the power to do what is "necessary and proper" to implement its expressed Constitutional powers.

"Thus [Hamilton], as Secretary of the Treasury, ...established—against the intense opposition of Secretary of State Thomas Jefferson—the country's first national bank. Hamilton justified the creation of this bank, and other increased Federal powers, on Congress's constitutional powers to issue currency, to regulate interstate commerce, and anything else that would be "necessary and proper."

http://en.wikipedia.org/wiki/Alexander_Hamilton

I think Ron Paul is interesting. However, we don't need to revamp our entire monetary system to reduce government spending and/or inflation. "Just say no" to increased government spending. Of course, don't cut federal pensions or any program that benefits me or supports my ideology and, oh by the way, cut my taxes.

Ron Paul has some great ideas..... he also has some wacko, nutty ideas. It is these over the top, nutball stuff that he spouts that will keep people from taking him seriously.

Originally Posted by rokid

I think Ron Paul is interesting. However, we don't need to revamp our entire monetary system to reduce government spending and/or inflation. "Just say no" to increased government spending. Of course, don't cut federal pensions or any program that benefits me or supports my ideology and, oh by the way, cut my taxes.

Yeah, I'm a bit weary of completely getting rid of the central bank, but I agree that we are doing a disservice to the value of our currency if all we do is print more money when we need it.

He's right on, but only one voice.