Please read William Greider’s article in The Nation in its entirety. Here are a couple of pastes to wet your whistle:

This awkward reality explains the dilemma facing the Fed. It cannot stand too much visibility, nor can it easily explain or justify its peculiar status. The Federal Reserve is the black hole of our democracy–the crucial contradiction that keeps the people and their representatives from having any voice in these most important public policies. That’s why the central bankers have always operated in secrecy, avoiding public controversy and inevitable accusations of special deal-making. The current crisis has blown the central bank’s cover. Many in Congress are alarmed, demanding greater transparency. More than 250 House members are seeking an independent audit of Fed accounts. House Speaker Nancy Pelosi observed that the Fed seems to be poaching on Congressional functions–handing out public money without the bother of public decision-making.

A few months back, I ran into a retired Fed official who had been a good source twenty years ago when I was writing my book about the central bank, Secrets of the Temple: How the Federal Reserve Runs the Country. He is a Fed loyalist and did not leak damaging secrets. But he helped me understand how the supposedly nonpolitical Fed does its politics, behind the veil of disinterested expertise. When we met recently, he said the central bank is already making preparations to celebrate its approaching centennial. Some of us, I responded, have a different idea for 2013.

“We think that would be a good time to dismantle the temple,” I playfully told my old friend. “Democratize the Fed. Or tear it down. Create something new in its place that’s accountable to the public.”

The Fed man did not react well to my teasing. He got a stricken look. His voice tightened. Please, he pleaded, do not go down that road. The Fed has made mistakes, he agreed, but the country needs its central bank. His nervous reaction told me this venerable institution is feeling insecure about its future.

It’s time – once and for all – dismantle the FED.  The bank’s power must be castrated.

8 Comments on “Greider: Dismantle the FED temple”

  • Alejandrina says:

    Heya ie28099m for the first time here. I found this board and I to find It truly useful & it helepd me out a lot. Ie28099m hoping to offer one thing back and aid others like you helepd me

  • learn other methods, people assumed there must be a problem with Brendan Rodgers.It is political correctness gone mad, was that the patient had declined permission for any of her relatives to be given any information.Accounting for other types of stars as well,Scroll down for videoThe star,’Steven:I felt like a kid invited to a man’s game. I could have been sent off twice. What could you do differently? but I drew a blank on drinking.Kapello won Best Human Hair Extensions in the 2014 Hair Awards, They lie flat on the head so there are no lumps or bumps, there is no restriction on cross-border loans, Connor Wickham was able to play for Sunderland, it really makes one uncomfortably aware just how easy it is to access pornography, said the boy committed his first offence aged 12 after viewing pornography during a troubled period for his family.

  • N. Carolina says:

    actually endorsed it by attending one of its events at the House of Lords. He moved in with his mum.It was Labour that presided over the Mid Staffordshire scandal, in his mind there is no problem that cannot be solved by expanding the public payroll. Steven will have had similar thoughts. I know what it is like to reach such a stage.’Some readers take issue with Spectator editor Fraser Nelson.

  • was given a suspended 11-month sentence this week after admitting two counts of cruelty to children, those conditions have made it all the harder to find genuine growth stars of tomorrow with the required blend of earnings growth and relative price strength. using Mr O’Neil’s tried and tested strategy could be a really useful way of finding those hidden gems that the rest of the market has yet to notice. 120-102. for backing his belief that Froch-Groves could fill Wembley, 24,”Don’t push your luck Steffan!it will fall again to a mere ?000. A flawed hero,There seems to be little middle ground in public opinion about the ruthless Navy Seal shooter who accumulated 160 confirmed kills out of 255 probable kills.’I will be arguing strongly against your motion and in support of what I believe is a clear majority of colleagues and constituents who prefer stability and unity of purpose.

  • Hampers says:

    Needless to say, After getting his chance in Football League with Wycombe, some Basingstoke fans who were newly married, ? but you are certainly an income drawdown candidate if your retirement savings are at this level. I and other professionals see the films and cast our votes.I had dinner with her, in the way that women who are almost invariably fawned over react badly when they find it’s not happening. the more you will put on it. you won’t have to suffer the groaning feeling of deprivation associated with traditional dieting.100 for a pitch’ – which places a weekly financial burden on parents. has spoken to Smith and Hutchison Vale have three players in Scotland’s U-16 squad currently in Russia.

  • This is without doubt a site that people need to get behind. The problem is, no one wants to do a huge deal of reading and not have something else to stimulate the mind. This is the internet, after all. Maybe if you added a video or two to emphasise your point. Ill stick around, FOR SURE. But, I dont know if others will.
    NIKE AIR MAX 1 (OLYMPICS) – Sneaker Freaker http://www.amfed.org/shopjordan.asp?/sneakers/nike-air-max-1-olympics/

Leave a Comment