WSJ: The Fed Is Already Transparent

Are former (un) Federal Reserve (sic) hacks. One was even on the Board of Governors. Obviously the well informed will be able to understand the skewed prism for which they speak.

But they don't get. Keynesians don't get it. The (un) Federal Reserve (sic) is designed for one thing and one thing only: To inflate. An audit won't trigger inflation. The unconstitutional central bank has been doing it since its inception.

Audit it. End it. Destroy legal tender laws. Abolish fractional reserve lending. Only after these four steps are taken will an actual economic recovery take root.

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The subtitle of the article says it all:
"The central bank doesn't need more political interference as it decides when to move against inflation."

It is NOT "political interference" --- it is "We The People" interference that want it.

Obama = O.ne B.ig A.ss M.istake A.merica

i have no idea why any advocate of federal reserve policy would ever publish his article on the internet.

http://therootsofchange.com

Professor Kashyap is also a member of the University of Chicago's Center for East Asian Studies, a member of the Bellagio Group, a Consultant for the Research Department of the Federal Reserve Bank of Chicago, and a Research Associate at the National Bureau of Economic Research.

Previously he served as a staff economist for the Board of Governors of the Federal Reserve System.

*Mr. Mishkin is a professor of finance and economics at the Graduate School of Business at Columbia University, a former governor of the Board of Governors of the Federal Reserve System, and the author of "The Economics of Money, Banking and Financial Markets"

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"I think we are living in a world of lies: lies that don't even know they are lies, because they are the children and grandchildren of lies." ~ Chris Floyd

I find it odd that the MSM on ABC This Week almost sounded anti fed in this little video...

http://revolutionarypolitics.com/?p=2945

Gotta love all those comments. I counted a total of 2 pro fed comments out of 5 pages worth. Not bad for John Q. Public.

Eric Hoffer

We all know it's bullshit.

Give me control of a nation's money and I care not who makes the laws - Mayer Amschel Rothschild

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It seems that people are awakening. Almost none of the comments are in agreement with the author and several of them really take him to task for defending the indefensible actions of our central bank.

like a cataract.

Assert Your Authority

I first read this, I was like damn, are the people really turning against this? Are they really that blind? I was pretty saddened that our fellow common countrymen were losing faith in our fight, but then I read the bottom part where they basically are the fed themselves and Im like 'INFLATION?!?!!!? THIS AUDIT CAN CAUSE INLFLATION?!?!?! ARE YOU KIDDING ME?!!!?!?! How much is the dollar worth now compared to when you came into existence?"

Lets talk about politicizing. Give me a break. People have never been so fed up with their governments as they are right now about all the games, corruption and bull shit and this jackass author wants to say that the Fed needs more secrecy and more power to screw give their buddies 0% interest (free money) loans, then give it back to the tax payer at 8%!!! While their buddies gouge us on late fees and interest rate hikes, and are only breathing because of our childrens futures that were put on their laps. I got something to say to the fed "Go fuck yourselves and go to hell for all I care you son's of bitches!!!" (harsh language for a Buddhist, I know, but I cant help myself). Thanks for hearing me out.

Ron Paul 2012

"What's more, it is highly doubtful that the GAO has the technical competence to evaluate monetary policy."

It is simple. List ALL transactions including who, how much, what was received and when. It's no more than what the IRS might demand from any American. You know, the guys who use force to take what was earned by the people in order to pay interest on the currency the Fed created out of thin air...

"When central banks are subjected to political pressure, authorities often pursue excessively expansionary monetary policy in order to lower unemployment in the short run."

Right, they must stay independent in order to make sure they never do what they've done almost every day for nearly 100 years!

Speaking of independence, who wants to buy a copy of the book Anil Kashyap and Frederic Mishkin co-authored with Ben Bernanke?

http://www.amazon.com/Inflation-Targeting-Lessons-Internatio...

even the most reactionary will agree with Marx's sentiments (but not solutions) about Wall Street as the economy continues to go south, and NO ONE will want to cut the Fed, the banks or their mouthpieces ANY slack as the economy bottoms out.

Look what shows up later in the article:

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Fortunately, Congress is considering an amendment to the bill that would prevent the negative consequences of the original Paul legislation. This amendment, put forward by Rep. Mel Watt (D., N.C.) would change the focus of the bill by instructing the GAO to audit the new lending facilities at the Federal Reserve that were authorized under the 13(3) "unusual and exigent circumstances" clause of the Federal Reserve Act. The 13(3) lending authority, which had not been used by the Fed since the Great Depression, was the basis for many of the most controversial decisions made during the crisis, including the rescue of AIG and the establishment of new lending facilities....

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Ugh. And it ends with But the Paul bill, as originally written, won't help with these goals and will only stifle the recovery.

*Professor Kashyap is also a member of the University of Chicago's Center for East Asian Studies, a member of the Bellagio Group, a Consultant for the Research Department of the Federal Reserve Bank of Chicago, and a Research Associate at the National Bureau of Economic Research.

Previously he served as a staff economist for the Board of Governors of the Federal Reserve System.

*Mr. Mishkin is a professor of finance and economics at the Graduate School of Business at Columbia University, a former governor of the Board of Governors of the Federal Reserve System, and the author of "The Economics of Money, Banking and Financial Markets"

*****
"I think we are living in a world of lies: lies that don't even know they are lies, because they are the children and grandchildren of lies." ~ Chris Floyd

they will simply think everything is under control and all is well. To those of us that are awake, the reality is that "they" got to the Times and ordered this to be written or to soften up on the Fed, the question is are there enough of us awakened to read through this crap?

In the beginning of a change the patriot is a scarce man, and brave, and hated and scorned. When his cause succeeds, the timid join him, for then it costs nothing to be a patriot.
~Mark Twain