Fun with The Fed Part 1

The Federal Reserve announced that they are cutting the Federal Funds Rate by .25%. This comes after the last cut on September 18th, which was .50%. If you are not familiar with the Federal Funds Rate or some of the other tools that the Fed uses to manipulate the economy, you can click here and read about them.

For those who have never studied economics you might have a few questions, such as:
Why is the Fed trying to control how the economy works?
I thought that under communism the government tried to control the economy, what gives?

These are all legitimate questions to be asking. For an in depth history about how and why the Federal Reserve came about I recommend reading The Creature from Jekyll Island by G. Edward Griffen. This book may take you a while to read, but it is worth it if you want to understand the origin of the Federal Reserve.

Should the government be involved in the economy? This is a question that does not get asked enough. The main question that people will argue is how much should the government be involved with the economy. It seems to always be a matter of how much involvement and the going assumption is that the economy would come tumbling down if it was not for the ever watchful hand of the government.

I plan to address this question of economic stability without government involvement in part 2.
If you are already on board with those of us who would like to see the Federal Reserve abolished, then you probably know that there is only one presidential candidate that claims he will do this, Ron Paul. If you would like to show your support for abolishing the fed and for Ron Paul, I found the perfect tee shirt for you.

Stay tuned for Part 2.