174. Bill Greider – How the Fed Prints Money Out of Thin Air
July 22, 2009 § Leave a comment
He wrote the best book on the fed many years ago. Also author of Who will Tell the People, which fist made me awware o over production in the world. this was many years ago also. the Fed now…
This awkward reality explains the dilemma facing the Fed. It cannot stand too much visibility, nor can it easily explain or justify its peculiar status. The Federal Reserve is the black hole of our democracy — the crucial contradiction that keeps the people and their representatives from having any voice in these most important public policies. Thats why the central bankers have always operated in secrecy, avoiding public controversy and inevitable accusations of special deal-making. The current crisis has blown the central banks cover. Many in Congress are alarmed, demanding greater transparency. More than 250 House members are seeking an independent audit of Fed accounts. House Speaker Nancy Pelosi observed that the Fed seems to be poaching on Congressional functions — handing out public money without the bother of public decision-making.