"I can not think of any positive effect". Really? I just fucking hate these conspiracy theories because people buy into them, marry the idea and then only present the side that reinforces the bias and then as i listen to them, it makes sense and i want to buy into it too. And there are people like him, or say Peter Schiff, and their whole reputation is based on a single idea, off which they make money for themself, sell books,etc etc.. There's cons, there's pros. Present the data and give me both. But that doesn't sell. On the other hand, a story about the crime of wealthy people having a secretive meeting on a private island? PFFT! I know very little of the FED, but i wonder, where would we have been right now if it wasn't for the FED? The markets were fucking crashing and people were panicking and running around like a headless chicken. If you have an entity that can establish control in the time of crisis/chaos, that's a big advantage to be had. Businesses went from having their best years to 0 customers overnight. We could let the economy collapse, OR if only we had special power - we could just print more money and somewhat keep the situation under control UNTIL the economy gets back up and running. No idea if this is true or not, but just how i see it!
TL;DW. Read the book years ago... entertaining presentation that's all. Careful what you wish for. Elimination of the Central Bank, gives control of both sides of the banking ledger, money supply, and all things attached directly to government, the same people who determine and decide how much currency they want printed. Sounds like other proven-to-fail forms of government. Some of you might start some due diligence with the National Monetary Commission. https://en.wikipedia.org/wiki/National_Monetary_Commission Some understanding of causes of the Panic of 1907 might be needed.