Friday, May 07, 2010

Insolvency, Monetization, Nationalization: Part 2

This is an eye-opening follow-up to my earlier post from two weeks ago. It turns out that the Federal Reserve Bank is not only the agent of wealth-diluting monetization, but it is also a key player in nationalizing insolvent corporations with the very money that it creates. There's a great deal of concentrated power there that does not want to be scrutinized. I disagree with many of Congressman Alan Grayson's domestic policies, but I agree with him that the Fed has become too powerful, meddlesome and secretive, and I back his campaign to audit it.

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