Burns’s diary is page after page of political dirty dealing, lying, and backstabbing. Nixon went so far as to plant negative press about Burns and threatened to expand the Fed’s Board of Governors to dilute the chairman’s influence. FULL ARTICLE by Doug French
Source link: http://archive.mises.org/15127/burns-diary-exposes-the-myth-of-fed-independence/
Burns Diary Exposes the Myth of Fed Independence
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Reminds me of the Martha Stout book THE SOCIOPATH NEXT DOOR, another must-read text.
Since Nixon’s day the one really big change at the Fed, apparently, is that the Fed is now directly controlled by a couple of Wall St banks and the President is now a puppet selected specifically for his lack of any significant education, experience, intelligence or independence of thought. I imagine that the Presinitz still whines and complains to his staff that everyone is out to get him, but pretty much has to beg the Fed for scraps to buy off the unions out of what’s left after Goldman, JPM and the foreign banks have been paid.
What About The Independence Of The Federal Reserve?
Independent it is! It is independent of the market and it is independent of prosecution for its crimes. Whether it is independent of the criminal designs of the politicians is only a secondary consideration.
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