The Instigator
Theguy1789
Con (against)
Losing
1 Points
The Contender
harrytruman
Pro (for)
Winning
3 Points

The Federal Reserve

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Post Voting Period
The voting period for this debate has ended.
after 1 vote the winner is...
harrytruman
Voting Style: Open Point System: 7 Point
Started: 5/21/2016 Category: Economics
Updated: 6 months ago Status: Post Voting Period
Viewed: 196 times Debate No: 91635
Debate Rounds (3)
Comments (0)
Votes (1)

 

Theguy1789

Con

I think the Federal Reserve should be abolished, but this debate is just to get 3 debates. It's still going to be a legitimate debate though. So, I will take the side of the brain dead bank-monger while you take the side of anyone with half a brain.
harrytruman

Pro

Bank Monger, love that phrase, I'm going to start using it.

Point #1- The constitution says congress should manage the money in Article 1 Section 8 Clause 5.

Point #2- The Federal Reserve robbed us of 98% of the dollars value since 1913. {1}

Point #3- The Federal Reserve created 9 Trillion dollars out of thin air and gave it to person/persons unknown. {2}

Point #4- The Federal Reserve caused the great depression.

{1}. https://images.search.yahoo.com...
{2}.https://www.youtube.com...
Debate Round No. 1
Theguy1789

Con

#1- The congress gave the Federal Reserve that power.

#2- But- Harry, inflation is our friend, it helps the economy somehow. {1}

#3- It was a loan.

#4- So, they're much better at preventing depressions now that there are bank regulations that prevent depressions such as the Glass Steagle Act.

{1}., https://www.youtube.com...
harrytruman

Pro

#1- Congress was never given the power to establish a central bank or print more money.{1}

#2- Just because we'll all be billionaires if inflation gets large enough doesn't mean its good, we'll still just have less buying power thus we would have less money than before.

#3- No, if it was a loan our money supply would by 310 trillion dollars, but it is still, 9.3 trillion.

#4- No, there are less recessions because of acts such as that, the time period while we had the Fed but no Glass Steagal act, 1914-1934, 20 years long, 8 of them were spent in depression

{1}. https://www.youtube.com...
Debate Round No. 2
Theguy1789

Con

#1- The constitution can be amended.

#2- But didn't you hear Jimmy Carter? Wouldn't you like to drive around in a 61,00$ car, or smoke a 75$ cigar? Besides, we'll all be billionaires! That trumps government theavery and waste 100 times over.

#3- Uh- well you see- never-mind, I can't come up with anything for that.

#4- But that's the point, the Fed ruined the economy, and as a result, we passed those acts, so in the end it was a good thing the Fed ruined the economy.
harrytruman

Pro

#1- No official amendment was passed granting the government the power to establish a central bank.

#2- That's because our money will be worthless- thanks Richard Nixon.

#4- That's like if the Redwood forest burnt down but "hey- at least ve to deal with woodworms anymore."
Debate Round No. 3
No comments have been posted on this debate.
1 votes has been placed for this debate.
Vote Placed by cherokee15 6 months ago
cherokee15
Theguy1789harrytrumanTied
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Total points awarded:13 
Reasons for voting decision: The short exchange speaks for itself. Had Con at least drew the debate into greater gridlock by making more cogent arguments then I might have explained my reasoning to a greater extent, or ,more ideal yet, have leaned my voting in another direction regardless of my own opinions.