Lot is unexplained out there. Exploration, theory's required..
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Good article, and others written same content for several years, knowledge passed on since 1985.. | | The Federal Reserve Was Brilliant Until Politics Destroyed It
Then came World War I, and with it, the beginning of the end.
The Fed was designed to stabilize regional capital flows. Today, it is blamed for inflation it does not create, forced to manage debt it does not issue, and expected to solve political failures it did not cause. The lender-of-last-resort function only made sense when the Fed bought corporate paper that rolled off the books. Government debt has destroyed that mechanism. Once money becomes tied to sovereign debt, it never contracts, rather it becomes perpetual.
This is why our monetary system is collapsing into the Sovereign Debt Crisis. Not because of the Fed, but because government destroyed the very architecture that once allowed the economy to breathe.
People love to blame the Federal Reserve for everything under the sun because it is easier than admitting the real problem: government. The tragic part of this entire monetary experiment is that the Fed, as originally designed in 1913, was brilliant. Each regional branch operated independently, responding to local capital flows instead of political agendas in Washington.
Money moved with the seasons. When crops were planted, capital flowed one way; |
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