The President can no more "do away with the Fed" than he can fire the Fed chairman. Andrew Jackson correctly labeled the Fed of his day, the Bank of the United States, a corrupt entity and killed it by refusing to sign the bill to re-charter it- whereupon the BUS triggered a Depression intended to ruin his election chances- but when Jack…
The President can no more "do away with the Fed" than he can fire the Fed chairman. Andrew Jackson correctly labeled the Fed of his day, the Bank of the United States, a corrupt entity and killed it by refusing to sign the bill to re-charter it- whereupon the BUS triggered a Depression intended to ruin his election chances- but when Jackson sadly informed veterans of the War of 1812 who regarded him as a great hero, that the BUS actions made it impossible to pay their veterans benefits, they correctly blamed the BUS and not Jackson, who was handily re-elected- and left the nation $0.00 in debt, after 8 consecutive balanced budgets and a strong gold-backed dollar, which read "Payable on demand for gold." Compare that to the incredibly complex language and description of the cryptocurrency industry( who stuffed wads of money down Trump's throat (he, who, incidentally hung Jackson's portrait in the Oval Office) that not one man in a thousand can make any sense of. Amazingly, a return to the gold standard- or some standard(!) could be accomplished by making the so-called security strip not out of Mylar(!), but honest-to-God hologrammed gold (or silver.) But that would not be simple enough for the tangled web-weavers who H.L. Mencken branded as "The great practical jokers of the race."
The President can no more "do away with the Fed" than he can fire the Fed chairman. Andrew Jackson correctly labeled the Fed of his day, the Bank of the United States, a corrupt entity and killed it by refusing to sign the bill to re-charter it- whereupon the BUS triggered a Depression intended to ruin his election chances- but when Jackson sadly informed veterans of the War of 1812 who regarded him as a great hero, that the BUS actions made it impossible to pay their veterans benefits, they correctly blamed the BUS and not Jackson, who was handily re-elected- and left the nation $0.00 in debt, after 8 consecutive balanced budgets and a strong gold-backed dollar, which read "Payable on demand for gold." Compare that to the incredibly complex language and description of the cryptocurrency industry( who stuffed wads of money down Trump's throat (he, who, incidentally hung Jackson's portrait in the Oval Office) that not one man in a thousand can make any sense of. Amazingly, a return to the gold standard- or some standard(!) could be accomplished by making the so-called security strip not out of Mylar(!), but honest-to-God hologrammed gold (or silver.) But that would not be simple enough for the tangled web-weavers who H.L. Mencken branded as "The great practical jokers of the race."
I am aware... but Congress can.
https://mises.org/podcasts/documentaries/playing-fire-money-banking-and-federal-reserve