For years now I have been reading that the Fed is the root cause of many of Americas financial problems. Many, many different people have pointed a finger at this private organization and they themselves admit to causing much of the problems. Your Ron Paul is pushing to abolish the Federal Reserve. Here is part of what he is saying:

"Abolishing the Federal Reserve will allow Congress to reassert its constitutional authority over monetary policy," Paul said in a statement at the time the proposal was introduced.

"The United States Constitution grants to Congress the authority to coin money and regulate the value of the currency," Paul said. "The Constitution does not give Congress the authority to delegate control over monetary policy to a central bank. Furthermore, the Constitution certainly does not empower the federal government to erode the American standard of living via an inflationary monetary policy."

The Texas lawmaker said the constitutional mandate to Congress actually provides only for currency "backed by stable commodities such as silver and gold."

"Abolishing the Federal Reserve and returning to a constitutional system will enable America to return to the type of monetary system envisioned by our nation's founders: one where the value of money is consistent because it is tied to a commodity such as gold," he said.

Paul said every problem in the economy, "from the Great Depression, to the stagflation of the '70s, to the current economic crisis caused by the housing bubble," can be traced to Federal Reserve policy.

The above is consistent to what I heard from many different sources. Can anyone explain to me why this is not happening and may never happen.

Ron Paul for president!
The only man in DC that gets it.

actually the reason why the federal reserve hasnt been abolished yet can be best demonstrated by the fate of JFK.
the bankers own this government

there are 300 stock holders in the fed referve system started by four of woodrow wilson friends in 1913 including rockerfeller, rothchild.
one of the stockholders is goldman sacks. note most of those in financial power with the gov. are former goldman sack's employees.
the wealth of these individuals involved in the fed reserve if known would make bill gates seem a pauper

These answers don't answer my questions. I still want to know why the Fed is not abolished and why not. What are the chances of it happening?

These answers don't answer my questions. I still want to know why the Fed is not abolished and why not. What are the chances of it happening?

1.) It is not abolished because the vast majority of US people have no idea how bad it really is, and obviously the Gvt. will not give up the power willingly.

2.) It will be abolished when they have finally made the US Dollar completely useless........about 2010-2011.

These answers don't answer my questions. I still want to know why the Fed is not abolished and why not. What are the chances of it happening?

Because those in power dont want it to go away. the people that really pull the strings in this country are involved in the federal reserve system.
If a president tried to remove the federal reserve he would likely wind up like JFK.

It'll never be abolished... too good a tool for those within.

But here is a devil's advocate side... think for a moment... do you REALLY want your congress to control this stuff? Think about what a wonderful job they do with the other stuff they do control.

i did answer your question, those in power (don't be confused it ain't the people) would never allow it.