In a reply to a comment from F.A. contributor Nanny G on Deconstruction of Cruz and Ryan I realized, after writing it, my too casual use of the term, “Too-Big-To-Fail.” Too-Big-To-Fail is a label that has gathered much deceptive moss. Used with some regularity since the economic panic that started in 2007 and accelerated at full throttle in September… Read more »
Posts Tagged: The Fed
We progress, marching forward leaving behind us a trail of yesterdays, filled with events large and small, assembling memories, but some of the more momentous occurrences rise to a superior level which we include in our collective “history.” In that wake of our advance some of those momentous waves swell further, rising to become events that only hindsight can identify as pivotal moments in that shared recollection.
In 1913 Congress abdicated its Constitutional responsibility over currency on behalf of the people when it created the monster called The Federal Reserve System. In creating a private joint stock entity, Congress not only surrendered jurisdiction over the dollar, it also relinquished control, oversight, and authority over the institution intended to manage the citizens’ currency. Decisions… Read more »