Skip to main content

View Diary: David Stockman shows how to avoid pointing fingers (10 comments)

Comment Preferences

  •  The Fed is an odd duck (2+ / 0-)
    Recommended by:
    DBunn, basquebob

    Which is not so surprising since is a privately-owned agency that is doing the work (creating the money supply) that the US Constitution says must be done only by the government.  Throw is the symbolic appointment of the Fed Chairman by the President, and it no damn wonder that the overwhelming majority of Americans believe the Fed is part of the government.

    What is even worse is that the Fed insists that they not be controlled by mere elected officials—the famed Fed independence.  So not only is the Fed not a part of the government, there is practically no way that there will ever be democratic control over it.

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site