I don’t know if this will ever make it through. They claim they want dissent–the FAQ is quite reasonable, even matronly–but in my experience they equate actual dissent with trolling, so my IP address may be blocked. I know I’ve been kicked off there at least once, but can’t remember which computer it was. What gets me kicked off most leftwing sites is suggesting they are intolerant. Yes, the irony is tangible: it walks, it talks, it does Elvis renditions.
Regardless, they were on target with this editorial. Here is my comment that may only appear here (note: censorship is so common with me that I invariably copy what I’ve written before posting it, since even on right wing sites my comments often disappear):
I recently defined the Federal Reserve as: “a private corporation consisting of large banks, which is operated by and for the benefit of the banks, and whose principle activity is transferring wealth from American citizens to itself on an as-needed basis.”
What people fail to realize is that when you read that Goldman Sachs, JP Morgan Chase, Bank of America and others are donating as much to Obama as to Romney as to Bush, that this is the FED donating that money. These banks literally OWN the Fed, which was chartered as a private corporation, which issued non-transferable stock to invitation-only banks.
No President, Republican or Democrat, has ANY control over what they do, or even any way of KNOWING what they are doing. The Chairman has to report to Congress periodically, but until Bernie Sanders managed to put at least some reporting provisions in place in the Wall Street “Reform” Bill (which was written, sponsored and more or less paid for by the banks reference above, with the exception of this provision), we got NOTHING. The only way we know about this $12 trillion that they wrote checks for is because of that provision.
What caused the inflation of the 1970’s? Almost certainly conscious Fed policy, for which of course their solution was the granting of greater powers, which they got in 1979-80.
In my view, if we can solve the problem of sound currency, our problems with unemployment, crime, healthcare, etc. will disappear.