4 ms·
"Could never happen" is different than "has the institutional capability to prevent a single person with a bad idea from collapsing the currency".
by InitialLastName 4y ago
"Could never happen" is different than "has the institutional capability to prevent a single person with a bad idea from collapsing the currency".
- codefreeordie 4y agoIndeed, the Fed Open Market Committee, which is the arbiter of interest rates in the United States is a 12-member body, so it would take at least seven people to do something this destructive here. (Of course, the FOMC members change over time partly via Presidential appointment, so to persist in such a bad idea for many years would take potentially hundreds of people to at least not interfere)
- anotherman554 4y agoIt would take 6 people to do something this destructive here. One president, and 5 Supreme Court Justices.
- InitialLastName 4y agoWith the acquiescence of another 251 (218 representatives and 33 Senators), as well as (theoretically) the Vice President and 8 members of the cabinet.