Audit the Fed. Then end it.
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.
What a great idea.
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.
To be clear there are many people who have become illegitimately rich because of our crony capitalist system. But the central banks, particularly the Federal Reserve, are the prime movers of crony capitalism. Things continue down the wacky economic path they’ve been on for the past decade and a half (really before that too) because the central banks fear a real, honest to goodness, profit and loss, economy.
There are the legitimately rich and the illegitimately, crony rich.
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.