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Perhaps you should Google the stories of Douglas Jackson and Bernard von Nothaus. There is no free market in money. Therefore the problems we see in banking ar
by FellowTraveler 13y ago
Perhaps you should Google the stories of Douglas Jackson and Bernard von Nothaus.
There is no free market in money. Therefore the problems we see in banking are not problems of a free market.
The entire market is sewn up vertically. The Federal Reserve, at the bottom, consists of the member banks. At the top, it consists of those who regulate those banks.
Therefore The System represents the ultimate "public/private partnership" where the entity that regulates, is the same entity being regulated.
The true purpose of their actions? To protect their cartel.