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> If you're worried about currency falling under the control of an unaccountable group of oligarchs who can't easily be removed, I have some bad news for you: h
by endisneigh 5y ago
> If you're worried about currency falling under the control of an unaccountable group of oligarchs who can't easily be removed, I have some bad news for you: https://en.wikipedia.org/wiki/Federal_Reserve_Board_of_Gover https://en.wikipedia.org/wiki/Federal_Reserve_Board_of_Gover...
These are appointed by the President and confirmed by the Senate, both of which are elected by people democratically. In addition if any of them were particularly egregious, a motivated populace could amend the constitution via no representatives and kick them out anyway.
So...
- philwelch 5y ago> These are appointed by the President and confirmed by the Senate, both of which are elected by people democratically. Do you know a single person who, in their entire lives, has ever voted for either their President or their Senator primarily on the basis of Federal Reserve Board appointments? Most voters don't even know the constitutional duties of the President. Presidential candidates are (mostly) front men for unaccountable groups of oligarchs who can't easily be removed.
- imtringued 5y agoWhy would you care? All the Fed is doing is kill inflation as much as it can. The only thing that they should stop doing is QE because it literally does nothing. It's as if we swapped names. My comments wouldn't change.
- elvatoloco55 5y agoYeah expanding the money supply by 50% causes no inflation. Just like in every country where the printing press has been abused. Literally 0 precedent right?