Don’t worry. It’s for a good cause.
We need to End the Fed not audit it. But I’ll take an audit as a first step. If audited the real question is the length to which the Fed will go to obfuscate. My bet is pretty far.
The Fed is the Prime Mover of crony capitalism.
When life gets expensive people stop going to Outback. I think Confucius said that.
Add the political pressure to raise minimum wages and things don’t look so good for restaurants right now.
The CFPB is/was housed within the Federal Reserve. The funding for the CFPB comes/came from the Federal Reserve. That’s a problem as Congress is the entity which is to allocate money for such programs.
Federal Reserve “independence” is a convenient untruth for the Fed and for many in the Washington political class. The Fed is absolutely influenced by politics. This is evident even to the fairly casual observer.
(From The Dallas News)
Carnegie Mellon University’s Allan Meltzer, a distinguished monetary economist, had this to say about Fed policy during the crisis: “Under Mr. Bernanke, the Fed has sacrificed its independence and become the monetary arm of the Treasury.”…
…Bernanke’s Fed seemed to care just as much about the health of prestigious financial houses as the state of the economy.
Gold and the “poor man’s gold,” silver, are liberators and fundamentally challenge the current central bank system of debt and debt servitude.
The metals should be treated as what they are, a form of money. As such they should not be taxed.
Mr. Gross is not the first one to observe this and it is a tragic observation.
By Ron Paul
The Wells Fargo bank account scandal took center stage in the news last week and in all likelihood will continue to make headlines for many weeks to come. What Wells Fargo employees did in opening bank accounts without customers’ authorization was obviously wrong, but in true Washington fashion the scandal is being used to deflect attention away from larger, more enduring, and more important scandals.
We have said before that no Fed Chair was ever “free market.” This absolutely includes Mr. Greenspan. His legacy is one of a price fixer, an economic manipulator, a bubble blower, and ultimately one who in many ways ushered in the crony era we live in today.
But as we see in the attached piece from Sebastian Mallaby, Allan Greenspan, the one time “Maestro,” knew better all along. He knew that Fed policy could and typically did destabilize the real economy.