Reply #120: There is no contradiction -- all of our government, its agencies -- and hierarchies....

[defendandprotect]

are controlled by elite/corporations --

And I see that you agree with me ...

There are flaws in the system that need serious adjustment and they touch just about every branch and institution of government, Congress, the fed, the pentagon, what have you.


except suggesting that "these are flaws in the system" is like saying that Hitler was a

"flaw in the German system" -- !!

What we are facing is fascism in America.


The New Deal addressed the problems we're seeing again with the "banksters" -- and with criminal

and predatory capitalism -- and JFK began to address problems with the FED returning power to

the Treasury. However, there are dishonest men among us as our Founders warned -- and money

does corrupt -- and we do have candidates/elected officials who are SELLING themselves and our

government to elites, which btw is the other side of the Citizens' United coin which must also

be acknowledged and addressed. "Who did you sell yourself to today, Senator?"


You still insist on handing the feds power over to Congress, where the same kind of influence problems exist...

The source of your confusion seems to be that you think the FED represents legitimate power

vs our Treasury and Congress. Again we have no power to appoint or un-elect either the head

of the FED or its board. We do have the power to appoint and un-elect our members of Congress.

FED doesn't even pretend to be a democractic institution --

Our Congress does continue to keep up the pretense, however!




Re this --

Your "no appreciation for democracy" bullshit is a really pretty strawman. Again, I made it clear that I believe Congress should exist.

Once you make a comment like this --

Allowing a beast like Congress to call the shots on monetary policy would turn out to be the stupidest move in American history.


It doesn't matter what more you add --

Congress can be changed -- the FED isn't a democratic organization nor can voters change it.


As for this --

I firmly believe that monetary policy should be governed in such a way that there is a high likelihood of people that actually know what they are doing are the ones handling that area of the economy. Like all institutions, the Federal Reserve may need more restrictions in certain areas, it may need improvements to the way its being oversaw, there should probably be shorter term limits for those that are appointed to it. But having a national bank or something like a national bank, that operates in this way, is a necessity for our style of government and our style of economy. There is no getting around that.

You mean you put your faith in "experts" -- whether or not they are committed to democracy or

economic democracy? And, does the last two years suggest to you that the FED "knows what it is

doing" because even Bernanke seems to be getting nervous? How about the last 30 years -- that

look good to you, as well?

Again, we don't need HIERARCHIES of power -- the people and their representatives in Congress are

not only capable of making these decisions but they are the LEGITIMATE sources of this power.

And what you should understand is at this point is that the "experts" are more often than not

working for elites.

The very fact that anyone would even think of supporting a FED system suggests that this needs

to be counter-addressed -- and presumably at some point we'll see a new OP up. Many here are

familiar with the issue.