No Mr. Cain, it should be scrapped! It is not a government agency, it is a private system!
This guy is unbelievable. Herman Cain answering questions about the Federal Reserve by Reality Reporter Julio Rausseo. Mr. Cain thinks that the Federal Reserve was doing a great job up until 2000 and now they have gone off track. He believes that ending the fed would be tantamount to grounding all planes after one plane crash and he believes that the $10 trillion in debt that was racked up by Congress because the Fed gave them a credit card was all okay because sound economic policy was in place and foreign investors were buying our debt. He states that he disagrees with printing money out of thin air, but believes that unsound economic policy than does not grow the economy has caused our debt to be less than appealing to buyers.
Where Mr. Cain completely misses the point is that the DEBT IS UNSUSTAINABLE, should never have been allowed to happen in the first place, and that it was made possible by the Federal Reserve Banking System. (Please take the time to check out the related links following the video.)
theconservativehillbilly 
Oct 14, 2011 @ 14:14:53
Did Herman Cain forget we had our on Treasury department our own comptroller and mint? We did quite well without the Federal Reserve system and I agree scrap it. The Fed gives us a loan each year to run the government it’s our budget. They loan us our own money how is that good for anyone? it isn’t.