26 December 2011

Federal Reserve

For future reference: Political Research Associates debunks canards about the Federal Reserve.


Anonymous said...

I was noticing as I read their "evidence" that it seemed remarkably one sided. Now I know why;
"Why We Focus on the Right

While attacks on civil liberties can come from any direction, the political and Christian Right use skillful marketing that exploits the public’s desire for quick solutions and capitalizes on today’s hectic information flow. With clever slogans that oversimplify complex public policy issues, the Right routinely scapegoats others in pursuit of their agenda.

PRA responds with fair and accurate analysis, looking beneath the sound-bites and slogans of the Right, exposing the true goals and agendas of specific leaders, organizations and movements. We then present our analysis in ways that can help the media, advocates and educators understand and challenge the Right"

But, hey, at least they admit to having a partisan agenda.

Jonathan Korman said...

Well, I have a partisan agenda too!

But I'm quite frustrated by the quality of resources on these questions; I'm hoping to track down something better.

A Critic said...

The first one is wrong. The private banks get 6.5 percent interest according to the Fed. The Fed does not specify 6.5 percent of WHAT? but apparently it's all money. Pretty sweet gig for passing a buncha bytes and a few paper slips around.

He's also wrong on "lawful money" (it's clearly defined in the Constitution and this: $1,000,000 ain't it even if a fascist institution called the Fed says it is).

There also has been no audit of the Fed that is accessible to the public or even to the most powerful Senators.

The rest are mostly at least partly wrong.

Jonathan Korman said...

It pains me to agree with you about anything, Critic, but I do agree that more public access to Fed audits would be a good thing.