The Instigator
RonPaulConservative
Pro (for)
Tied
0 Points
The Contender
TheRealSpassky101
Con (against)
Tied
0 Points

We do not need the Federal Reserve

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Voting Style: Open Point System: 7 Point
Started: 12/4/2016 Category: Economics
Updated: 6 months ago Status: Post Voting Period
Viewed: 240 times Debate No: 97371
Debate Rounds (5)
Comments (3)
Votes (0)

 

RonPaulConservative

Pro

Google docs are not a violation of conduct
Character limit is 15,000
TheRealSpassky101

Con

I look forward to your argument.
Debate Round No. 1
RonPaulConservative

Pro

We do not need a Federal Reserve because we would be just fine without it- any of its supposed purposes either do not need to be done, or are bad. There is honestly no logic behind a Central Bank.
TheRealSpassky101

Con

THANK YOU! You make this very easy for me. The first president to disagree with a Central Bank was Andrew Jackson. As you may know, he was a crazy LUNATIC, who said this quote, "My only two regrets in life are that I did not hang Calhoun and shoot Clay." (1) He was also known for massacring anyone who wasn't white and was a murderous FREAK. However, because I am limited to only 10000 characters, I will not go about his mental disorders.
Anyway, his actions were DISASTROUS and he utterly DECIMATED the economy. (2) So yeah, without a central government, we would be screwed as a nation.

Now you said that the Federal Reserve only causes bad things. I am curious what you mean by that.

(1) https://en.wikiquote.org...
http://first-thoughts.org...
http://www.answers.com...
https://www.lewrockwell.com...
(2) http://www.lehrmaninstitute.org...
Debate Round No. 2
RonPaulConservative

Pro

So my opponent is trying to claim that we need the Federal Reserve because Andrew Jackson was such a bad guy- but it turns out that all of what he claimed is just bullsh*t. Andrew Jackson wasn't a maniac and he didn't "kill anyone who wasn't white," what he did do is stand up for our National Sovereinty and preserve our freedoms.ll my opponent has done is launched a number of ad-hominid attacks that he made up.
TheRealSpassky101

Con

How could I make it up when I gave you an entire list of sources?

Also, you have not addressed the fact that he DESTROYED the economy.

You are going round after round not addressing what a lack of a central bank causes.
Debate Round No. 3
RonPaulConservative

Pro

Andrew Jackson did not destroy the economy, the bankers contracted the money supply after he ended their privately owned central bank. It's like Brexit, the Brittish people demanded their nation back, so the banksters withdrew all their investments and created a very short lived crisis, and now they're trying to blame nationalists for something that they did.

The bnksters caused the crisis of 1836 by contracting the money supply, they caused the depression of 1873 by passing the Coinage Act of 1873, they caused the crisis of 1893 by withdrawling all of ther stocks simultaniusly, and they started the crisis of 1907 by telling everyone there was going to be a crisis- they even caused the Great Depression through their private Central Bank by creating a bubble then contracting the money supply. They then tried to blame all of it on the gold standard or not having a central bank or something like that.

Having No Central Bank causes a given economy to become more stable, it simply means that there is no prvate bank manipulating our money supply.
TheRealSpassky101

Con

Let me go over my credentials in this topic:

I used to be the CEO of Stock Predictions, an online financial consulting firm. I also was their lead economist. I could predict the market better than anyone else at the company, thusly leading to my big promotion. I passed the ACTs in 7th grade and plan on taking it again for fun this year. I am currently publishing an irrational number I call Minus 8. I am also creating entire postulates.

Now that it is established that I am a qualified mathematician and economist, let's go over some things:

1) It is the Federal Reserve's job to keep the economy stable.
2) None of those disasters had to do with the Federal Reserve, except when they fixed those crises.
3) They did have a Central Bank during the 1907 crisis.

The most important note:

4) Almost all of the crises were really caused by CORPORATE BANKS, and not a Central Bank.
Debate Round No. 4
RonPaulConservative

Pro

You haven't established anything- but let's assume it were true, Mike Maloney is a very experienced economist who predicted the 2008 crisis 1 month befre it happened, and he said we don't need a Federal Reserve. You see where ths can go?

Throughout this debate you have provided no good reason why we should have a central bnk at all and thus I win. Claiming that the Federal Reserve creates stablity is just nonsense, and you are yet to prove it.

What would the Fed keep the economy stable from anyway? Economic Crisis do not happen, they are caused, most times by some bank or banker.
TheRealSpassky101

Con

I am sorry, but I cannot agree with anything you say.

Also, YOU have the burden of proof, which you failed to prove anything and had no arguments, except "one person said so."

Here is a quote of the role the federal reserve has:
"The Federal Reserve System is the central bank of the United States. It was founded by Congress in 1913 to provide the nation with a safer, more flexible, and more stable monetary and financial system. Over the years, its role in banking and the economy has expanded." (1)

(1) https://www.federalreserveeducation.org...
Debate Round No. 5
3 comments have been posted on this debate. Showing 1 through 3 records.
Posted by TheRealSpassky101 6 months ago
TheRealSpassky101
Communist countries have no central bank. Communism has been proven not to work.
Posted by TheRealSpassky101 6 months ago
TheRealSpassky101
How could I make it up? Did you not notice the blue text that brings you to a website of truth?
Posted by TheRealSpassky101 6 months ago
TheRealSpassky101
I agree with the Federal Reserve, but not its ability to bailout corporations.
No votes have been placed for this debate.