mikesa69

Populism vs. Bernanke, Round Two

To sethmcs re: 'The fed was created to do two things. Regulate short-term interest rates and provide liquidity to "BANKS".'


You sure are ignorant. The fed has two official mandates: control inflation, and maintain price stability. Monetary policy is a tool, not a goal.

As for the unofficial mandates, well, what else would you expect w/ trillions of dollars of OPM at your disposal and no accountability? No wonder our dollar has lost 96% of its value since the creation of the fed in 1913.

BTW, the fed is an illicit entity according to our Constitution and should not only be audited, but should be abolished altogether.