The marketplace, when allowed, sets the price of everything else. Why not money? The amount of savings (supply) along with the number of prospective loans (demand) are the only things that should be involved, along with the risk component of the borrower. There is no need for central planners who ultimately set rates to manipulate the market to their own political advantage. Abolish the Federal Reserve, restore sound money backed by precious metals (or better yet, allow all currencies to freely circulate), and let the marketplace work its magic.
The marketplace, when allowed, sets the price of everything else. Why not money? The amount of savings (supply) along with the number of prospective loans (demand) are the only things that should be involved, along with the risk component of the borrower. There is no need for central planners who ultimately set rates to manipulate the market to their own political advantage. Abolish the Federal Reserve, restore sound money backed by precious metals (or better yet, allow all currencies to freely circulate), and let the marketplace work its magic.
I could have used a link to the quiz to see what kind of pizza I am.