tag:blogger.com,1999:blog-8897997766931633186.post9008767957989459519..comments2024-02-14T03:21:37.506-05:00Comments on Monetary Freedom: Audit the Fed!Bill Woolseyhttp://www.blogger.com/profile/06330232724290161369noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-8897997766931633186.post-14058515364012885152015-02-04T20:47:08.256-05:002015-02-04T20:47:08.256-05:00Lots of good thinking.
I am not longer sure the F...Lots of good thinking.<br /><br />I am not longer sure the Fed should be independent, or that having the Fed part of the Treasury is a bad idea. <br /><br />Democracy and transparency must trump all else. <br /><br />A Fed that reports to the President is easy for voters to understand, and ends all the mysticism and would reduce conspiracy theories (well, okay, maybe). <br /><br />So, pending the 2008 election, then-President Bush tells the Fed to stomp on the gas. That would be bad? How would that be worse than what the Fed did?<br /><br />Voters, as much as anybody, can make the call if inflation or unemployment is too high. <br /><br />Democracy is a lousy way to run anything--see the huge complex built up now dependent on a permanent war on terror, or war on drugs, or war on poverty.<br /><br />But, democracy is a better way than the second-best way---the 2008 recession, and the chronically tight central banks of the world, is perhaps yet more proof of the old maxim. Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.com