hclapp219 wrote:comtrails70 wrote:it's long and alot of hype in it but there are some facts in it that seem alarming.
the most shocking ot me was what kissinger and greenspan had to say.
7.40
[youtube]http://www.youtube.com/watch?v=ol3mEe8TH7w[/youtube]
either way i was just trying to get a feel for how people in the states react to that sort of info.
ill try to edit it down to a 3 minute video with flashy lights and sock puppets
Yeah I watched from 7:40 onwards, and none of that is news to me. I may be biased as I was an economics major in college, but there is very good reason that the Fed is an independent agency. That part about Bush being mad that Greenspan "threw" the election was pretty ridiculous. Could you imagine the chaos if the President or Congress was in charge of the Fed? Every election year they would create a bubble with low interest to stimulate the economy and put people in a good mood about the party in power. This constant overheating and cooling of the world's largest economy would be catastrophic. Complaining that the Fed doesn't answer to anyone is like complaining that the Supreme Court doesn't answer to anyone. The Board of Governors does what they think is best for the economy in the long run, something politicians have shown they are incapable of doing.
Sorry, I left out the sock puppets.
dont forget the flashy lights..
thanks for your take on it. like i said im just trying to get a feel for what peoples take on it is.