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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: ForYourEyesOnly who wrote (29483)	3/7/1999 9:40:00 AM
From: Hawkmoon	Read Replies (1) \| Respond to of 116764

THC, The discussion and debate over whether a central bank or national bank should exist, and exactly what powers it should hold have been debated throughout the history of the United States. You can find the argument dating back to the Presidency of Andrew Jackson. In sum, the argument has apparently revolved around whether a CB should be a direct part of the US gov't, and thus able to be corrupted by politics directly, or whether it should be given an independence of action that acts as another check and balance on manipulative politicians. You can make the comparison that the 9 justices of the supreme court are not elected either but are appointed for life. Thus one could make the case that their interpretation of the constitution, as it pertains to the laws that govern us, potentially could strip us of all of our civil rights. It is likely they would do so?? NO. As far as the FRB answering only to shareholders. Normally Directors and Chairmen/women are elected by sharholders and the board of directors. Who appointed Alan Greenspan? and then you have to ask... Who confirmed him? Why should a private bank be given monopoly rights to issue money in the US? If not a private bank, with its head appointed and accountable to the political process, then who should?? It is not a perfect system, and is still subject to manipulation and politics, but I prefer the checks and balances it provides to the idea of putting monetary policy totally under gov't control. Look at Japan. If monetary policy there were under complete control of the gov't, you would be seeing a rampant printing of yen in order to inflate the economy and preserve jobs. After all, jobs are the currency of politics. Regards, Ron