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Do We Really Need the Federal Reserve System? Money Morning- Video

This is a syndicated repost courtesy of Money Morning. To view original, click here. Reposted with permission.

Abolishing the Federal Reserve System might seem like a drastic idea, but not when you get the full story…

You see, Congress created the U.S. Federal Reserve System to restore public confidence, provide the banking system a source of liquidity that would prevent its collapse and protect the public against inflation.

A century later, the banking system is so big its risks dwarf the Fed’s liquidity capacity, and what cost a buck back then now will set you back $21.

That’s why we asked Money Morning Chief Investment Strategist Keith Fitz-Gerald to explain how the Federal Reserve System actually helps a country’s economy.

Most importantly, we wanted to know if the United States – or any country – even needs the Fed anymore.

Just listen to Fitz-Gerald’s answer in the following interview.

 

For more on the U.S. Federal Reserve System, check out 5 Things the Federal Reserve Hopes You’ll Never Find Out.


Wall Street Examiner Disclosure: Lee Adler, The Wall Street Examiner reposts third party content with the permission of the publisher. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler, unless authored by me, under my byline. I curate posts here on the basis of whether they represent an interesting and logical point of view, that may or may not agree with my own views. Some of the content includes the original publisher's promotional messages. No endorsement of such content is either expressed or implied by posting the content. All items published here are matters of information and opinion, and are neither intended as, nor should you construe it as, individual investment advice. Do your own due diligence when considering the offerings of information providers, or considering any investment.

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