Thanks for linking
Reader comment on: John Cochrane on the Fed
Submitted by John Gillis (United States), Feb 20, 2012 17:55
You are right, that this is a great post by Mr. Cochrane. It shows the additional levels of massive bureaucratic control that the Fed is taking on, along with the deepening fascistic (i.e., a system based on govt control of businesses) bent on the part of the U.S. governement. While the Fed should be disbanded in a real capitalistic system, since a central bank is a fundamentally wrong way to "manage" banks and savings for a free people -- this post shows that the Fed and the Executive branch is moving towards such a draconian approach that it will probably lead to the destruction of the current regime of a micromanaged welfare state economy.
Thus, this terrible new direction of the Fed, actually gives me a bit of hopeful expectation that the end can't be far away, given how bad this system is becoming. (But then I tend to make lemonade out of lemons, so perhaps I'm being a bit pollyanna-ish.)
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