Let's Break Up the Fed?

Amar Bhide had an interesting article in the Wal lStreet Journal July 29th titled "Let's Break Up the Fed." You can read it here. He makes a clear point that the powers of the Fed have grown over time to such a ponit where no one can really oversea the vast powers of the Fed and hope for a truly successful outcome. The history he gives of how the Fed's powers have grown is very intriguing. What are your thoughts?

Comments

[bcampau]

If we were to take down anything, it would have to be the Fed. He who controls the money supply controls the people. Who do you think is really calling the shots?

[Paul Britz]

Thanks for the link. Interesting. Not sure if you knew this but Ron Paul is releasing a new book called End The Fed. Looks interesting.

Take care!

Paul

[John Dickinson - Team One Purpose!]

Robert,

The Federal Reserve is one of those organizations that hardly anyone notices.

There is no billboard or advertisement that says "This is what the Fed did for your today and this is exactly how it affects your life right now and in the future."

When a large entity with little or no oversight control operates with many responsibilities (where only a few people know what those responsibilities are), the possibility presents itself where something big and bad could happen.

Yikes!
John Dickinson