Going for the Heart
Without a central bank, the political section of the bookstore would have to be reclassified as science fiction.
This is why you hardly ever hear a fundamental question on the right of the Fed to exist. This is why the political culture frowns on anyone who attacks the heart of the state. This is why it is so "unrespectable" to mention the case against the Fed, and why serious critics are treated to a kind of shunning — and why, if you want to go places in Washington, you must never entertain the idea that the central bank ought to be abolished. FULL ARTICLE
Comments (3)
Yancey Ward
Indeed. To control the state, one must remove currency control from it's grasp. The seemingly unsolvable problem is how to keep it's hands tied once you have done so.
Published: August 14, 2008 3:35 PM
Haas
Great article- problem is those with the power and influence all love the fed... its an unending vicious cycle with fed giving power to politicians and politicians legitimizing the fed - when at the same time they are all really leading the state into oblivion...
Published: August 15, 2008 12:23 AM
Kiwi Polemicist
Readers may be interested in my comments on the New Zealand version of the Fed:
http://kiwipolemicist.wordpress.com/2008/08/16/why-isnt-the-governments-monetary-policy-working/
Published: August 20, 2008 4:52 PM