The American Federal Reserve has some criticism According to Wikipedia:

Critique of the organization and system has come from sources such as writers, journalists, economists, and financial institutions as well as politicians and various government employees.Criticisms include transparency, doubt of efficacy due to what is seen by some as poor historical performance and traditionalist concerns about the debasement of the value of the dollar...

Some relevant figures such us Milton Friedman (Nobel Price in economics) was for the Federal Reserve abolition.

Video ref. here

Friedrich Hayek Another nobel price was also critical of the Federal Reserve ref here

Also economist Thomas Sowell is for abolishing it.

Video ref. here

Are there any relevant politicians from the last 10 years who think that the USA government should have full control over the currency? Is any of those for the abolition of the Federal Bank Reserve?

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    This question is a bit confusing to me. Most of it asks about eliminating the Federal Reserve, but one section asks about the government having full control over the currency. Most people who advocate eliminating the Federal Reserve do not want the government to have full control over the currency. In their opinion, the Fed gives the government too much power over the currency. They want to eliminate the Fed to reduce the government's control, not to increase it.
    – Brythan
    May 30 '18 at 18:15
  • @Brythan Interesting American point of view. Would you give the power to print currency to private hands instead of everybody's which is what a government should be about?
    – user20963
    May 30 '18 at 18:22
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    @PbxMan - federal reserve gives control of the currency to 7 unelected Governors on FRB. That's about as far from "everybody" as you can possibly get, regardless of whether that's a good or a bad thing.
    – user4012
    May 30 '18 at 19:13
  • I am in favor of the Federal Reserve. If you want to ask why not have the currency controlled by the government directly, I would recommend a separate question.
    – Brythan
    May 30 '18 at 23:43

Milton Friedman

Your link does not say that Milton Friedman wanted to get rid of the Federal Reserve. It says:

Due to its poor performance, Friedman believed that the Federal Reserve Board should be abolished. Friedman was deeply critical about Federal Reserve policies, even during the so-called 'Volcker shock' that was labelled 'monetarist.' He further believed that if the money supply was to be centrally controlled (as by the Federal Reserve System) that the preferable way to do it would be with a mechanical system that would keep the quantity of money increasing at a steady rate.

He wanted to replace the Federal Reserve's Board of Governors with a system that engaged in open market operations based on some rule. Such a system could still use the Federal Reserve system. It would just be governed differently. It would be more accurate to say that he wanted to reform the Federal Reserve than to eliminate it.

And Friedman certainly didn't support the government having full control over the currency. His position was that it would be better for the government to have no control over the currency. He wanted the currency to be managed by rule and otherwise left alone by the government.

Ron Paul

Texas Representative Ron Paul did want to eliminate the Federal Reserve (and probably still does). E.g. the Federal Reserve Board Abolition Act. Dr. Paul retired in 2013, well within ten years of today (2018). Ron Paul believes in a gold standard rather than a managed currency.

His son, Rand Paul, is currently a Senator. It's unclear to me if the son has the same position on the Fed as his father.

  • Video reference added.
    – user20963
    May 30 '18 at 18:22
  • Rand Paul is definitely critical of the Fed's current operation, see time.com/4170969/sen-rand-paul-audit-the-fed/. I don't know that he's stated that he wants to abolish it completely, though. May 31 '18 at 0:02

Your points and questions relate directly to the currency freedom movement, that is similar to the audit the Fed movement, that has found a home not surprisingly in the Libertarian Party. One politician that is arguing for this is Alvin Vohra, who states:

When we eliminate legal tender laws, we allow Americans to spend money and accept payments in any form of currency they choose. This destroys the monopoly the Federal Reserve currently has, and abuses, on currency.

When Americans can choose their preferred currency, they are free to choose to store their money in a form that won’t depreciate wildly whenever the government decides to spend more money. That means your savings will still mean much more years later when you go to use them.

Ending the Federal Reserve also prevents irresponsible, cash-negative businesses from entering the market, making (fully expected) irresponsible decisions, and creating more frequent and more severe business cycles. When the Federal Reserve is not allowed to interfere, successful business practices will prevail, business cycles will be smoother, layoffs will be massively decreased, and the economy on the whole will prosper. This means your business will thrive, your favorite local business will thrive, and responsible business practices will drive market growth.

Note how Vohra makes the association of currency freedom would predicate the ending of the Fed in the third paragraph.

Another such politician is Congressman Alex Mooney (R-W.Va.) who introduced HR 5404 in March of 2018

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    Sometimes these folks are referred to as Gold Bugs.
    – user9790
    May 30 '18 at 19:15
  • Sounds like freedom of currency would favor anything, not just gold. May 31 '18 at 15:23
  • 1
    @KriyanshAurik That's true, and cryptos are part of that movement too.
    – user9790
    May 31 '18 at 17:59

Since part of your question is:

Are there any relevant politicians from the last 10 years who think that the USA government should have full control over the currency?

There are two politicians in the last 10 years who've indicated that there should be more oversight into the Fed other than Ron Paul.

Alan Grayson asked for specific information about activity and declared that if this amount of money was received by other countries, shouldn't officials know this. He also challenges the legal authority of the Fed's actions. Full control? Probably not, but definitely more control or much more oversight. Toward the end, he constitutionally challenges the existence of the Fed.

Bernie Sanders also challenges the Fed on not only the bailout but the lending the Fed does. Like Grayson, Sanders seems to favor much more oversight.

Full control? Definitely much more control than exists, though Grayson toward the end of the video almost seems to think the Fed shouldn't exist in accordance with the constitution or the current time.

One could point out that this is nothing but posturing as nothing came of these conversations, like the conversations with Ron Paul.

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