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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: gregor_us who wrote (21360)	7/15/2009 6:41:20 PM
From: axial	Read Replies (2) \| Respond to of 71445

Another quote from your link: "And I believe it will not; the essential role for an independent monetary policy authority pursuing economic growth and price stability remains widely appreciated and the Federal Reserve has played that role well over the years." A highly questionable assertion! Almost immediately, most contributors to this thread can think of Fed decisions that contributed to the present financial and economic crises. *The man is talking through his hat.* Does that mean the Fed should lose its independence? Maybe not: it's getting pretty hard to find someone who doesn't suffer from myopic stupidity, subservience to powerful interests, simple corruption, or all three. There are incompetent boobs everywhere - on Wall Street, in government, in the Fed. They indulge in extraordinary risk, non-constructive diversion of capital in transactions without social value, and when it all fails, they pick the public's pocket. So the question about who should govern the Fed is pointless, because it doesn't matter. They're all in one self-serving Family Compact called the Wall Street-Washington corridor, and its Groupthink. It's a failure of the elites entrusted with the nation's welfare; ordinary people are helpless in the face of their collective incompetence and corruption. Jim