Comments by "Charles Brightman" (@charlesbrightman4237) on "Summers Says Fed Should Raise Rates Four Times Next Year" video.

I WILL KEEP SAYING IT UNTIL IT CHANGES OR I DIE: 'We The People' need to rise up and pass a law that the US Fed has to have an annual economic inflation goal of zero percent (0%), NOT 2%. As America gets greater, a US Dollar should be able to buy more, not less. The US Fed with their 2% annual inflation goal are actually causing some economic and social problems in this nation and in this world.
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@chrischoir3594 Help pass a law that all banks have to pay at least a saving's account interest that keeps up with the true cost of inflation. The banks have been getting very low interest rates from the Fed for a long time now, while also keeping their loan rates high (especially for charge cards). Are banks in financial trouble and/or are they just greedy?
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@christianlibertarian5488 Consider this copy and paste from my files: Consider the following: a. Let's say money is backed by gold, silver, etc. b. Then the population grows. c. Everybody in the population would want a certain amount of money to live on. d. More money would have to be put into the economy so that everybody would have a certain amount of currency. e. But with a fixed backing system, each piece of currency would be worth less, (as the fixed backing to the currency in the economy would have to be spread out more). But now consider: f. The population itself is part of the backing to the currency. (Intrinsic value of human life). (Citizens are an asset, not a liability). g. As the population size grew, more money could be put into the economy and yet the money in the economy could retain the same buying power. h. Conversely, if the population size decreased, money could be taken out of the economy so as to retain a certain buying power of the money still in the economy. i. In other words, tie the amount of currency in the economy, in part, by the size of the population. j. Then also, the Fed could keep their job, BUT they should change their goal to 0% annual inflation, NOT 2% annual inflation (of which, currently most citizens do not get pay raises that keep up with the true cost of inflation, nor even interest on things like saving's accounts), which currently causes a lot of social and economic issues in society. Those issues could be lessened for a society if the Fed changed their ways.
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Consider the following: a. Raising interest rates is going to help devastate the US Government, as they will barely be able to pay the interest on their debt. b. ALL non-profits should be taxed, possibly 1% of all they take in, and dedicate those resources to paying down America's debt. Non-profits receive national security protections, use of the nation's infrastructure, availability of police, fire, rescue, etc. They have been receive a free ride for too long.
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