> No I don't think the money should be based on Gold,I think the stability and security of the money is based on the financial condition of the country and its basic economic foundation.
Well, now you're flip-flopping. You can't say you don't like the Federal Reserve System and at the same time say you don't want gold/silver-backed currency. It's kind of one or the other.
Your concerns about the growing deficit are valid. But it's not the Fed that determines how big our deficit is; that's entirely up to the US Congress and POTUS. The Fed can and does respond to the deficit, notably by raising interest rates to keep inflation in check in spite of deficit spending. So we have the situation today where Congress and the administration have chosen to act like drunken sailors and the Fed has little choice but to put a damper on their party with interest rate hikes.
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Today's Featured Article - Tuning-Up Your Tractor: Secondary Ignition Wires and Distributor - by Curtis Von Fange. In our last episode we spent the entire day checking out the spark plugs. Is that efficency? Actually, it took more time to explain than it really did to do the inspection. At any rate we decided that a compression test was in order so we could verify the internal engine status. That way we wouldn't buy any tune up parts until we were sure that the engine was in reasonable mechanical condition. Our tests showed a fictional compression reading of 85, 80, 82 and 86 psi. That is well within a
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