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Comment by CrazyPyroLinux | Hacker News Reader

As Ron Paul once said about the Federal Reserve system, "If that doesn't make any sense to you, then you understand it just fine."

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You may quote me on this "If that doesn't make any sense to you, then you probably heard if from Ron Paul".

https://newrepublic.com/article/94477/ron-paul-distorted-lib...

What ignorant tripe! Author fancies himself the self-appointed arbiter of "the libertarian creed," yet his criticisms are the usual boring and disingenuous ad hominems of "racist" "sexist" "privilege" I'd expect from a leftist.

These are the points he seems to take issue with: 1. Private property is important to liberty. 2. The solution to racism might just not be more racism. 3. Open borders are good in theory but have problems in practice.

Some may disagree with these points, particularly on their nuances, but to conclude that they are somehow incompatible with libertarianism is completely brain-dead.

I wonder what this learned author and philosopher is up to these days... Oh, that's interesting: https://www.foxnews.com/media/will-wilkinson-lynch-mike-penc...

So he has an opinion that is different than yours. Sometimes it is good to read an alternate opinion. I had an English teacher in 8th grade that taught me how to read a news paper. She was from Eastern Europe and had escaped from the Soviets. She was very adamant about using multiple sources. Understanding the motivations of the writer, getting other sources of evidence. I think she was wise and I will always be indebted to Mrs Holtzman.

AFAIK the function of the Fed is pretty understandable. Whether you agree that they make the correct decisions that is another matter. It seems to me that in an economy that is producing new things that did not previously exist being able to adjust the amount of currency in circulation to reflect the total value of things in the economy makes a lot of sense.

Suppose the 350 million of us had to share the millions dollars that was in existence when the country was founded. There would not be enough for each of us to have a single dollar. That would make the currency pretty useless.

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