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September 15, 2009

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Neil

This seems like a case of not being able to have it both ways. If the Fed is a private entity owned and controlled by the bankers, then why is it the taxpayer's business what it does with its assets? In order for it to be any of the taxpayer's business, then there needs to be some public liability for this interest.

The fed creating more money is a potential inflation risk, inflation is of course an implied tax on savers. However, this tool is used to keep more money in reserve, thus reducing inflation, and the implied saver's tax. Again I ask - why the taxpayer's business. (Most taxpayers, being borrowers, would probably favour high inflation policy, I suppose. If they understood the concept anyway.)

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