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7 Questions

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The Federal Reserve and Government Debt

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Questions and Answers

What would be the impact of terminating the Federal Reserve's powers to create government debt-backed money?

It would lead to inflation and deflation.

It would reduce excessive Government spending and improve accountability. (correct)

It would increase Government spending and decrease accountability.

It would have no impact on Government spending or accountability.

What would be the result of requiring the Federal Reserve to create a stable, asset-backed currency?

It would have no impact on inflation or deflation.

It would avoid both inflation and deflation. (correct)

It would lead to inflation and deflation.

It would increase Government spending and decrease accountability.

How would the Federal Reserve distinguish between 'productive' and 'non-productive' uses of money and credit?

By financing productive uses directly from the Government's tax revenues.

By financing productive uses from the accumulations of savers, wealthy Americans, and foreigners.

By financing non-productive uses from the accumulations of savers, wealthy Americans, and foreigners. (correct)

By financing non-productive uses directly from the Government's tax revenues.

According to Louis Kelso, money is primarily used as

A means of measuring obligations, rights, powers, and privileges Signup and view all the answers

America could reduce its dependency on past savings by

Creating new, asset-backed money Signup and view all the answers

The Federal Reserve System would supply asset-backed money and productive credit through

Local banks Signup and view all the answers

To ensure broad representation and power over future money creation, the text suggests providing

Lifetime, non-transferable voting shares to all citizens Signup and view all the answers