by Daniel Brouse
The FED tries to control our spending… and that ain’t easy.
It seems to happen around election time — all these wacky posts about the FED. (Luckily, I’ve a degree in international economics for just such an occasion.) If you are posting about the FED, please remember these facts:
* The FED regulates banks to the best of their ability. (They also try to keep inflation and employment under control.) It is called “monetary policy”.
* No one owns the FED as it is part of our government oversight.
* Those that borrow money from the FED fund the FED (usually banks foot the bill.)
* The FED has too little power and no control over fiscal policy (spending).
* If we control our own spending, the FED doesn’t do anything.
Though I hated it happening, thank God the FED went beyond their powers. When the Fiscal Policy of “us” USA citizens was (and still is) in crisis, the FED was forced to intervene in an unprecedented manner; however, even under these circumstances the FED made money for USA citizens. (The “bailouts” made billions of dollars for the Treasury. OUTFLOWS: $617 billion / INFLOWS: $681 billion) Please blame us before blaming the FED. Check out your responsibility for fiscal policy.