The People shoot down pro-Fed economists

Some academic economists who just love the Federal Reserve have signed a petition in support of what they call "Fed Independence" in the Wall Street Journal.

http://blogs.wsj.com/economics/2009/07/15/petition-for-fed-independence/
http://blogs.wsj.com/economics/2009/07/15/petition-for-fed-independence/tab/comments/
Infowars - Shills for the Fed

The second link will display all the comments on one page. Honestly, I don't think there's even ten in 170+ that support the sentiment of the petition.


This is good news, and shows the issue of central banks and the nature of money, is transcending normal political divisions. Austrian School economics is shunned by the 'mainstream' politicians and economists, and people who identify with that theory are considered fringe or kooky, as evidenced by the Wikipedia entry on Austrian School theory.

But even if you love Keynesianism and think it's the best thing in the world ever, you can't ignore the problems posed by having central banks unaccountable to anyone showering their inside friends with money backed only by the general population and their children.

Hey, they can pay more taxes!
Hey, they can put up with their currency being devalued!


Ron Paul on Austrian vs Keynesian Economics
Keynesianism's Last Stand

Methinks your centuries-old scam of 'money changing' is in danger, Illuminist bankers. What is your next move? Try and sell a global currency on the basis that, for now, it's in gold? I'm not sure. You could of course give up now :D