The theory was beautiful (well in the abstract)… Give troubled banks more credit and they will lend it out and the economy will stop its free-fall. Now, that sounds like utopia to me. Create credit and we will all be saved for unemployement, slowing production, decreased consumer spending, and rising interest rates. HOLD ON… let’s [...]
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The Fed is Heralded as a savior. I’d like to present a dissenting opinion and it will only take a moment. The Fed is a quasi-governmental entity — read private bank. It is a very large private bank that oversees the money flows between banks with the exclusive privilege of creating and destroying [...]
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