Sunday, October 18, 2009
The Federal Reserve?
What do we need the Federal Reserve for? It seems to me that, under a reformed financial/economic system, the Treasury could issue funds directly to people, communities, productive endeavors (via their local equity unions) rather than issuing money to speculative, usurious private corporations (the banks).
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Mike,
ReplyDeleteThat is an enormous question and I'm not qualified to answer it. But the answers are out there - I would highly recommend entering "federal reserve" as a search term on www.itulip.com and reading some of the results. Or subscribe to The Baseline Scenario - there is always provocative economic commentary on that site.