Comments on: Defending the Fed’s Independence, Part II

By: heidler

heidler — Mon, 23 Nov 2009 10:00:09 +0000

“Because independent central banks do a better job of controlling inflation.”

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Nonsense. The purpose of central banks is to coordinate deliberate inflation by large national banks and the central government.

A central bank manages a banking cartel, greatly harming the general public.

The U.S. Dollar has lost over 95% of its value since 1913 when the Federal Reserve took control of it.

How can anyone rationally assert that the Fed central bank does a good job of controlling inflation ?

By: TekGremlin

TekGremlin — Wed, 11 Nov 2009 18:13:17 +0000

I agree the Fed should be able to act independently, but not with my money. If we are not going to have some control over Fed Monetary policy we should at least have the option not to use Fed notes. Either it is a public entity and the public helps run it, or it is private and I can choose a competitor.

Simply allowing competing currencies would give me the choice. If the Fed is so good at it’s job everyone will keep using there money. Of course this wont happen as they are terrible, but if you like them you can keep there soon to be worthless money all you like.

None can tell me it is ok to steal my savings through rampant inflation, while also saying I have no other choice but to keep using those worthless dollars made worthless by decisions I opposed.

By: smitty

smitty — Wed, 11 Nov 2009 02:41:01 +0000

I think the Federal Reserve, as constituted, is indefensible.
The debt is so far beyond imagination as to pose a national security threat, yet unelected officials continue to pursue ruinous policies.
One wonders how the blame will be dispersed and disbursed, post crash.