Thursday 2 April 2015
“Pain and suffering are always inevitable for a large intelligence and a deep heart. The really great men must, I think, have great sadness on earth.”
Fyodor Dostoyevsky, Crime and Punishment
Commentary & Analysis
Stop Bashing the Fed – It is pointless!
Let’s face facts. People love to hear bad things. We ogle at train wrecks, we gather to watch buildings on fire, and we can’t get enough of crime scene tape. In the financial “guru” world a lot of people have made, and are making, careers by weaving tales of woe; some even have a hint of plausibility; fewer have a decent probability.
In short, financial gurus are masters at giving their readers what they want to hear, and for many that includes warnings of financial Armageddon around every corner. Of course we all know by now, the US Federal Reserve Banking System, and its maximum leader—the Fed Chairman—represents and unlimited reservoir of raw material for fear mongering. Bashing the Fed seems to be challenging baseball and football to become the new national pastime. I am here to tell you as fun as Fed bashing may be, it is pointless.
I realize there is a lot of juice in the evil conspiracy theory aspect of the Federal Reserve banking system. No doubt, even without leaping to conspiracy one can say the development of the Fed has enhanced the wealth and power of the oligarchical elite which in the end control America—or at least “guide” it to their benefit, shall we say. So from that standpoint criticism seems quite justified....more