The Federal Reserve: Is Monetary Power Being Replaced By Private Economic Global Interests?
Written by on September 1st, 2007 in Information Access.
In the present world financial system turmoil generated by the collapse for "sub-prime" mortgage bonds, the US Federal Reserve System functions, as it always does, with private meetings and telephone conferences with the great financial houses, deciding in apparent secrecy whether to increase the money supply and government lending to financial houses or whether to raise or reduce interest rates. It is obvious that such critical financial decisions will likely change the value of every dollar around the world, including the price of labor, goods, services, and real estate, as well as the return on savings. By using this approach he US appears "to take politics out of the management of the money supply and interest rates". In reality what …