Public control over the Fed would end profiteering on war, healthcare, education, and most other markets, would quickly eliminate the nation debt (since we would no longer be paying principal and interest on private bank notes created from thin air and passed off as our "legal tender"), and the embedded 30 to 40% interest in the cost of goods and services, which eats away at our productive capacity, would also disappear.

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Public control over the Fed would end profiteering on war, healthcare, education, and most other markets, would quickly eliminate the nation debt (since we would no longer be paying principal and interest on private bank notes created from thin air and passed off as our "legal tender"), and the embedded 30 to 40% interest in the cost of goods and services, which eats away at our productive capacity, would also disappear. It would also make most taxes irrelevant because unnecessary.
Robert Bows

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Bows's premise is that the Federal Reserve is managing the money supply and manipulating the American economy for private gain, not for public good. Though the fact is hardly ever explained in the mainstream press, the Federal Reserve, which is empowered to create dollars with the flip of a computer switch, is a consortium of the nation's largest banks, not an agency of the US Government.If Bows is correct, then the influence of private investment banks in distorting the world's economic system is deep and broad. If central banks were subject to democratic control, not only would a great leech be removed from the economy, promoting an easy and widespread prosperity, but the financial motive for war would be removed.

Authors Bio:

Josh Mitteldorf, de-platformed senior editor at OpEdNews, blogs on aging at http://JoshMitteldorf.ScienceBlog.com. Read how to stay young at http://AgingAdvice.org.

Educated to be an astrophysicist, he has branched out from there to mathematical modeling in a variety of areas, including evolutionary ecology and economics. He has taught mathematics, statistics, and physics at several universities. He is an avid amateur pianist, and father of two adopted Chinese girls, now grown. He travels to Beijing each year to work with a lab studying the biology of aging. His book on the subject is "Cracking the Aging Code", http://tinyurl.com/y7yovp87.