An article at the Tenth Amendment Center argues that removing the Federal Reserve’s additional layer of nationalization and its enormous expansion of the federal government is a key step toward reviving a meaningful system of federalism among the United States. In giving the federal government unlimited funding which cannot be controlled or cut off by the states or the people, the Fed allows our top-heavy regime to grow ever more centralized each day.
Moreover, a national bank helps create a national mindset:
Nationalize as much as possible, even the currency, so as to make men love their country before their states. All private interests, all local interests, all banking interests, the interests of individuals, everything, should be subordinate now to the interest of the government. — Senator John Sherman
Retaining the Fed means retaining a major bulwark of unaccountable, nationalistic government and making that government subtlely more attractive to our citizens.Published in