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I agree with you, but central banks like the Fed are not accountable like the government is
by 50656E6973 7y ago
I agree with you, but central banks like the Fed are not accountable like the government is
- jasonhansel 7y agoThe Fed is certainly more accountable than Facebook. The Fed chair is appointed by an elected president; Mark Zuckerberg is appointed by various unelected rich people.
- MrMember 7y agoMark Zuckerberg is appointed by Mark Zuckerberg. He controls a majority of voting rights in the company. If he wanted to he could completely ignore all other shareholders and there isn't a whole lot anyone could do about it.
- nixonpjoshua1 7y agoNot directly accountable but still much more accountable than Facebook is. Even in a non-elected position there is still a duty to the people and greater good rather than fiduciary duty to shareholders.
- 50656E6973 7y agoThe only real way the Fed is accountable to the people and greater good is to the extent that they don't screw the people so obviously and badly that the people (including the police and military) revolt against them, which is the same level of accountability for any dictatorship