"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary." ~ H.L. Mencken
The Federal Reserve’s Framers Would Be Shocked, Says NYT
Submitted by Sharon Secor on Mon, 2013-06-24 02:00
in
It has been 100 years since, as the New York Times (Free for 10 articles Reg Req) phrases it, “President Woodrow Wilson went before Congress and demanded that it “act now” to create the Federal Reserve System.” It is a monetary system anniversary worth noting, though I in no way think the creators of the deliberately misnomered Federal Reserve would be shocked regarding its role in the economic system and financial industries.
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