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OpEdNews Op Eds    H3'ed 2/25/15

The "Fed" Independence Scam - The Latest Excuse

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Message Kent Welton

The "Fed" Independence Scam - The Latest Excuse

"The last duty of a central banker is to tell the public the truth."

Alan Blinder, Vice Chairman of the Federal Reserve,

on PBS's Nightly Business Report in 1994.

"Central bank independence in conducting monetary policy is considered a best practice for central banks around the world. Academic studies, I think, establish beyond the shadow of a doubt that independent central banks perform better."

Janet Yellen, Fed Chairman

[[Well Janet, considering central banks are all private affairs controlled by a small ruling elite of bankers, and there is no similar set of Public central banks with which to make a comparison, your statement is meaningless and misleading, and designed to protect the "Fed" from the people... and Congress - the most democratic body - whom the founders specified to control monetary policy after the colonies faced a century of extortion from the private "Bank Of England" mafia - kw]

"If government becomes 'independent of politics' it can only mean that that sphere of government becomes an absolute self-perpetuating oligarchy."

Murray Rothbard, The Case Against The Fed ã

As we get closer to a tiny similicrum of banking reform, we hear the great chorus of sycophants repeating the catechism of Fed independence -- in short, their pledge to the church of greed.

It has become a mantra, a mindless pledge of allegiance to the oligarchy, to the filthy rich and powerful banking families that own our country, our world, and our lives.

Watch the lemming politicians and economists fall all over themselves to say they support fed independence. Independence from whom, for what, for how long? The Fed is clearly not independent of banking oligarchies, it is not independent of the self-interest of the fed's private owners. It is only independent of the very people the Constitution required it not to be independent from!

Clearly, Fed "independence" is the scam of the ages, and the people who espouse it are either uninformed, bought off, scared for their positions, or ruthless fascists.

So you think the founders were crazy, wrong not to give a private central bank independence but, instead, to make it dependent on a Congress re-electable by the people - as opposed to appointments virtually dictated by the big bank fed owners? So run on that platform -- i.e., that the founders were crazy and we're much better off with an oligarchic, Goldman-Sachs, forever Fed. Tell your constituents you don't believe in the Constitution, the founders were fools, and that the Big bankers know best. Yeah, run on that!

The truth is the last thing we need is more fed independence, we need a public central bank responsible to the people, and dedicated to the public interest:

"Wall street owns the country. It is no longer a government of the people, by the people, and for the people, but a government of Wall Street, by Wall Street, and for Wall Street. The great common people of this country are slaves, and monopoly is the master."

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Kent Welton Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

Author, Exec. Dir. The Center For Balance.org - Websites: PanditPress.com, OligarchyUSA.com, PublicCentralBank.com, EditorFreedom.com, FascismUSA.com & more
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