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A Conversation with Martin Wolf

Council on Foreign Relations
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benjis007 Avatar
benjis007
Posts: 16
Posted: 12.15.08, 07:44 AM
the FED is not beholden to the election process. I hate central planning from the get-go, but at least if you are going to create a giant (unconstitutional), all powerful central bank, then please please make them democratically elected. Let states contribute representatives to the board of governors of the Fed...etc. PLEASE
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benjis007 Avatar
benjis007
Posts: 16
Posted: 12.15.08, 07:46 AM
I just mean that we need to politicize monetary policy, and economic policy somehow. It effects us all. We shouldn't just hand over all the responsibility to a quasi-private institution. The constitution says that only congress has the power to issue and coin currency and regulate the value, right?
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benjis007 Avatar
benjis007
Posts: 16
Posted: 12.15.08, 01:05 PM
49:50 in: brilliant pragmatic point of view. Very british...I love it.
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