> No I don't think the money should be based on Gold,I think the stability and security of the money is based on the financial condition of the country and its basic economic foundation.
Well, now you're flip-flopping. You can't say you don't like the Federal Reserve System and at the same time say you don't want gold/silver-backed currency. It's kind of one or the other.
Your concerns about the growing deficit are valid. But it's not the Fed that determines how big our deficit is; that's entirely up to the US Congress and POTUS. The Fed can and does respond to the deficit, notably by raising interest rates to keep inflation in check in spite of deficit spending. So we have the situation today where Congress and the administration have chosen to act like drunken sailors and the Fed has little choice but to put a damper on their party with interest rate hikes.
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Today's Featured Article - Oil Bath Air Filters - by Chris Pratt. Some of us grew up thinking that an air filter was a paper thing that allowed air to pass while trapping dirt particles of a particles of a certain size. What a surprise to open up your first old tractor's air filter case and find a can that appears to be filled with the scrap metal swept from around a machine shop metal lathe. To top that off, you have a cup with oil in it ("why would you want to lubricate your carburetor?"). On closer examination (and some reading in a AC D-14 service manual), I found out that this is a pretty ingenious method of cleaning the air in the tractor's intake tract.
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