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To: Investor-ex! who wrote (26789)	1/22/1999 3:08:00 PM
From: Hawkmoon	Read Replies (4) \| Respond to of 116768

So we should institute a National Bank that would be vulnerable to political pressures?? No... I think that debate was decided long ago, and no matter how much we think the Fed is a private organization, they are still accountable to the American people at a different level. I certainly don't advocate political interference directly in the control of the monetary process. I think the Fed provides a satisfactory compromise against irresponsible deficit spending. It is an additional check and balance against political shenanigans. But we can agree to disagree like they did decades ago when the Federal Reserve act was passed. Btw, the impetus for having an independent bank began with the Farmer's alliance who were being devastated by the 30 year "great deflation" of the late 1800's. Greider discusses this as well in "SOTT". Regards, Ron