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The Last guy to get rid of the Federal Reserve was President Jackson, The next guy who attempted it was JFK but he was murdered by the CIA and Bush Sr was part of that!
The Last guy to get rid of the Federal Reserve was President Jackson, The next guy who attempted it was JFK but he was murdered by the CIA and Bush Sr was part of that!
Bush-41 was busy thinking about being Republican Party Chairman for Harris County, TX back then. No CIA connection. Also JFK made no attempt to get rid of the Fed. E.O. 11110, which is the usual source of this bit of fraud, was one of several steps in the process of replacing silver certificates with Federal Reserve notes for smaller denominations...
What should be done instead? Invite a couple of decades of global economic depression? That doesn't sound so good...
So you think we should listen to the folks who helped create this mess? They didn't see it coming, but now they're experts on how to fix it. The central bank has done enough meddling for one lifetime. I would'nt mind weathering a quick, deep recession as opposed to a long and drawn out moderate one, which is likely where we're headed.
Bush-41 was busy thinking about being Republican Party Chairman for Harris County, TX back then. No CIA connection. Also JFK made no attempt to get rid of the Fed. E.O. 11110, which is the usual source of this bit of fraud, was one of several steps in the process of replacing silver certificates with Federal Reserve notes for smaller denominations...
Bernanke may have studied the GD, but he learned nothing from it.
Keynesians always have an alibi though. FDR's wrecking crew had one during the 30's. It was called blame the so called Hoover folks (who were highly interventionist) for being laissez faire and "please, just give the New Deal more tiiiime to work". Or: "The last stimulus wasn't "bold" enough (wtf is that supposed to mean). We have to make the next one bolder."
I think his term ends in about 1 year. Harwood (CNBC) asked him the same question and Obama said he hasn't even gotten his current designees through yet or been sworn in himself (implying it was too early to say).
IMO, the chances of Obama getting rid of Bernanke are VERY high! 80%+
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