Quote Originally Posted by bu villain View Post
There were economic depressions regularly, you had runs on banks and panics . The whole reason the Fed was created in 1913 was in response to this. Dollars stopped being redeemable for gold after the Great Depression. People saw what chaos the gold standard could cause and said enough. I think the fact that 2008 was the first time we had a depression and we have had no bank runs in the last 80 years is pretty convincing evidence that our current system is better than the alternative.
Ill just refresh your memory.

Do you realize how much is wrong based upon this statement alone?

You insinuate that the FED was created to stop depressions and recessions, then say it cannot stop them or control them only lessen the pain, but then dont answer the fact that we have had 20-30 recessions and 2 depressions SINCE the feds creation.

Ok, so the ONLY goal of the FED is to print money to help during recessions right? Thats your argument?