Ken,
Tsk, Tsk. Take your note to your mother and ask her to explain to you where you went over the line, as long hours at the alter of stupidity seems to have clouded your independent judgement.
Now, indeed, some of the heads of the regional banks are voting members of the FOMC, but they are a minority (5 out of 12 by regulation, 5 out of 10 presently as there are two vacancies). In addition, the Chairman who is a political appointee has tremendously more power than any other member.
Which is basically what I was trying to point out to KIS. That, only someone w/o any clue about how the FOMC works will claim that it is a private club for independent bankers.
As for the rest of your hyperbole, the currency is not being debased (the Yen is strengthening in comparison, but wait till the BoJ monetizes its debt, the Euro is dropping), the economy is booming (5.5% growth) and inflation is only present in the wet dreams of stock discussion board Miss Manners wannabes.
Perhaps I should start calling my PCP Asymmetric Doc as well. He never tries to put a check on improvement of my health, but gets concerned if it deteriorates. How strange!
-BGR. |
