Opinions/Editorials
See other Opinions/Editorials Articles
Title: Beware of Woolly-Minded Attacks on the Fed
Source:
WSJ
URL Source: http://www.wsj.com/articles/alan-s- ... -attacks-on-the-fed-1422401124
Published: Jan 27, 2015
Author: ALAN S. BLINDER
Post Date: 2015-01-31 19:56:42 by Gatlin
Keywords: None
Views: 16525
Comments: 46
Welcome to 2015. On the Chinese calendar, it will soon be the Year of the Sheep. On the financial calendar, it looks like the Year of the Fed. Let’s hope the Fed doesn’t get sheared.
As almost everyone knows, this year the Federal Reserve will start to “exit” from its hyper-expansionary monetary policies. But the Fed may also spend the year defending itself against a series of congressional attacks on its independence.
The barrage started on Jan. 12, when a seemingly innocuous provision was tucked into a piece of must-pass legislation, the Terrorism Risk Insurance Act, with no hearings, no congressional debate and, for the most part, no notice. The law now requires that the seven-member Federal Reserve Board include “at least 1 member with demonstrated primary experience working in or supervising community banks having less than $10,000,000,000 in total assets.’’
Now, there is nothing wrong with having a community banker on the Fed board; and President Obama ’s announced nominee, Allan Landon, seems well qualified. The problem is assigning board seats to specific constituencies. What about big bankers? Labor leaders? Home builders? Professors? Democrats? Republicans? As Fed ChairJanet Yellen explained at a congressional hearing in July, this could lead to “earmarking each seat for a particular kind of expertise.” Yes, the new law could Balkanize and politicize the Fed. For example, what will happen when Democrats realize that virtually all community bankers are Republicans?
Post Comment Private Reply Ignore Thread
Top • Page Up • Full Thread • Page Down • Bottom/Latest
Begin Trace Mode for Comment # 21.
#2. To: Gatlin (#0)
(Edited)
A pox on the FED, God bless America. Since the creation of the private FED in 1913, the US dollar has lost 97% of it's value.
Well “tutti trutti!” In 1913 the average individual income was $800. In 2013 it was $26,364. So the dollar lost 97% of its value while income increased 97% … Source. The Fed has now been vaccinated against your pox. God Bless America!
And it was backed by something of real value, silver and gold. Your paper Obama dollars are backed by shuck 'n jive, and are almost as worthless as your globalist propaganda releases. In God, and Ron Paul gold & silver dollars we trust.
Didn't they confiscate all those Ron Paul gold coins and send the maker to prison on counterfeiting charges? Ah, yes: Bernard von NotHaus I didn't know he also founded the Free Marijuana Church of Honolulu as well. Convicted of counterfeiting in 2011 but has never been sentenced. His last sentencing hearing was in 11/2014. A very odd case.
They're jealous because RP precious metal dollars have permanent value, while the US dollar is dropping like a stone. Sentencing NotHaus would just make the government look even more crooked and vindictive.
If you want permanent value, then screw the Ron Paul Gold and Silver Dollars....go REAL ESTATE!
#22. To: Gatlin (#21)
Some Ferrari's are even better. Ferrari sells for $27.5 million in Pebble Beach - Aug.... money.cnn.com/2013/08/18/autos/pebble-beach-ferrari/... Cached Aug 18, 2013 · A 1967 Ferrari convertible sold for $27.5 million at an auction near Pebble Beach, Calif., the highest price ever paid for a Ferrari at auction.
Top • Page Up • Full Thread • Page Down • Bottom/Latest
#3. To: A K A Stone, Devil Anse (#2)
#4. To: TooConservative, A K A Stone, Devil Anse (#3)
#6. To: TooConservative, A K A Stone, Devil Anse (#4)
#10. To: Gatlin, NWO stooge, Globalist Scum, Quantitative Weaseling (#6)
#13. To: hondo68, ignoramuses, economic dimwits, Ron Paul Tools (#10)
A pox on the FED, God bless America. Since the creation of the private FED in 1913, the US dollar has lost 97% of it's value.
#15. To: Gatlin, fiat money, backed by, shuck 'n jive (#13)
In 1913 the average individual income was $800
#16. To: hondo68 (#15)
#19. To: TooConservative (#16)
has never been sentenced. His last sentencing hearing was in 11/2014.
#21. To: hondo68 (#19)
...have permanent value,
Replies to Comment # 21. 
#24. To: Gatlin (#21)
If you want permanent value, then screw the Ron Paul Gold and Silver Dollars....go REAL ESTATE!
End Trace Mode for Comment # 21.
[Home] [Headlines] [Latest Articles] [Latest Comments] [Post] [Mail] [Sign-in] [Setup] [Help] [Register]