To serve the public interest! Sounds almost noble, doesn't it? Have they been "serving the public interest?"
The Fed has a tremendous amount of power over our daily lives. Like shorting the money supply and having their gangster banks call in loans, which is what set off the Crash of 1929.
And gouging the savings account of anyone who doesn't trust Wall Street or doesn't want the blood-soaked returns, so they keep their extra money in a bank or credit union account, like the one I have that gets me a whopping 1/5 of 1% interest!
A short listing, going back nearly 40 years, to see if the Fed has been doing its job.
1980's Savings and Loan crisis thefts started, like the one engineered by John 'Canary' McCain's good friend, Charles Keating, AKA the Keating Five. Who also got help from a future Fed head, Alan Greenspan. Crooks of a feather..?
Americans are still paying off that massive theft and the total bill will come to over ONE TRILLION DOLLARS.
Mr. Klippel these days extorts victims to pay Holocau$t™ fees.
Alan claims not to have seen it coming, even though that is the Fed's job, to steer clear of these catastrophes.
In 1977, Greenspan obtained a Ph.D. in economics from New York University. His dissertation is not available from the university since it was removed at Greenspan's request in 1987, when he became Chairman of the Federal Reserve Board. In April 2008, however, Barron's obtained a copy and notes that it includes "a discussion of soaring housing prices and their effect on consumer spending; it even anticipates a bursting housing bubble".Alan was a real riot, making quotes like this one: "I guess I should warn you, if I turn out to be particularly clear, you've probably misunderstood what I said." He also advised homeowners to take out an Adjustable Rate Mortgage, when the Fed rate was 1% and many did, then Alan raised the Fed rate to 5.25%. That's Alan for you, never one to miss a trick!
But don't say Ben is heartless, why he secretly engineered trillions of dollars in bailouts to his Wall Street buddies, so they could continue drinking champagne and eating caviar while many Americans were getting kicked out of their homes and losing their jobs, due to the Wall Street crooks who looted the economy. And since the FED has NEVER been independently audited, there are wise-asses who say some of that debt America has incurred since then is the result of giving free money to those Wall street pirates, but that's being anti-Semitic, and you don't want to be known as that, do you?
The current Chair is Janet Yellen, appointed in February 2014. Her deputy is Stanley Fischer, former head of the Bank of Israel and dual citizen. Yellen has admitted the Fed is clueless, but not when it comes to enriching a certain group of people, then the gates of plenty are open! Those Wall Street TBTF casinos are in worse shape now than in 2007, so my guess is that we'll all be 'Yellin' and soon!
President Trump is going to appoint a different Fed Chairperson. Gosh, wonder who that will be?