Actually the problem might be that the Fed is too accountable to the voters. Remember, Volcker was fired by Reagan. And Greenspan is a goldbug at heart who ha

Actually the problem might be that the Fed is too accountable to the voters. Remember, Volcker was fired by Reagan. And Greenspan is a goldbug at heart who had a lot of political pressure to keep the heroin flowing. Voters do not understand economics, but they do like cheap credit. Democracy breeds short term thinking. Read some Herman Hoppe - http://www.lewrockwell.com/hoppe/hoppe4.html http://www.lewrockwell.com/hoppe/hoppe4.html