2 ms·

There is no pre-existing "system of checks and balances" when it comes to banking. But let's pretend there is. As an analogy, consider that we have managed to

There is no pre-existing "system of checks and balances" when it comes to banking. But let's pretend there is. As an analogy, consider that we have managed to get on with a politically independent Supreme Court, with their least proud moment (Dred Scott) being when they decided to ignore their charter and bow to the will of the people. I have no problem trusting independent bodies with things, so long as they are well-chosen and truly independent. History shows that this is a much better idea then trusting either the econo-politically elite or the demos.

Nwallins 17y ago
> I have no problem trusting independent bodies with things, so long as they are well-chosen and truly independent. Right, and a well-chosen king rules better than a representative democracy. The problem is, how do we choose a king well? Likewise, how do we guarantee the Fed is well chosen and truly independent? I submit that we can't. > History shows that this is a much better idea then trusting either the econo-politically elite or the demos. Care to elaborate?