Thee RANT

lawmanbrooklyn wrote:Well, you are right. I am not an economist. But I do know this. The oldest trick in the book is to demonized one group of people, blame them for all your problems and get the great unwashed all worked up about it. Its a pretty dangerous pattern.
People who DO know something about economics dont dump all our problems on this one particular institution. Some take exception to the Feds current monetary policy, but they dont simplify our problems by  blaming it all on them.
The fact is, those that rant about the Fed on the Rant know precious little about economics. They have not formed their opinions by following the news, reading various points of view and coming to their own conclusions.
On the contrary, they have read things on only one set of websites that push the demonization of the Fed. When I ask them who should be setting monetary policy in the absence of the Fed, they seem dumfounded. THey then rant about the Gold Standard and then call me names.
The fact is, if the  fed were to be abolished, setting montary policy would fall to the current administration. In this cases, Sec. Geitner would get the job. The Fed was established to remove the process one step from the political process. Is the Fed political. Sure they are. But by giving them a term of office, it removes them from politics somewhat.

Now we KNOW the Country has been taken over by a group of foreign
bankers.. the question is how do you get rid of them? If you think
"peaceful demonstration" will do thing again.