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View Diary: House Republicans mock idea to save economy from threat of GOP sabotage (146 comments)

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  •  Issuing currency and monetary policy are matters (3+ / 0-)
    Recommended by:
    umjm13, Vote4Obamain2012, aitchdee

    of vital importance to the nation and they should never be
    left to politicians.  The elected officials of 1913 who created the Federal Reserve via the Federal Reserve Act were wise enough to see that at the time.

    Summarizing the matters involved as a scheme for the benefit of the leisure class while suggesting the Congress would be better suited than the Fed as a custodian of the currency and its monetary policy is ludicrous.  What is today's Congress if not the leisure class?

    Your understanding of Federal Reserve operations is flawed to say the least.

    "Democracy is a life; and involves continual struggle." ---'Fighting Bob' LaFollette

    by leftreborn on Tue Jan 08, 2013 at 10:09:17 AM PST

    [ Parent ]

    •  Ummmmm (1+ / 0-)
      Recommended by:
      hannah

      Beg to differ.  I agree that politicians are inherently untrustworthy, but you prefer to allow BANKS to make those decisions?  After they've just spent the last decade proving how corrupt and incompetent they are?  Or perhaps you prefer to put power in the hands of the military?

      Issuance and management of currency is and has always been a function and responsibility of government.  In our particular government, that translates as "politicians", freely elected and purportedly subject to the whims of the People.  Any other option is a frank abdication of government power to unaccountable private individuals or corporations whose interests are by no means congruent with those of the people they, ahem, SERVE.

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