If we are ever to awaken the American sheeple to the fact that the Federal Reserve is no more federal than Federal Express, perhaps a similar name change is in order (the latter is now just FedEx). Obviously current efforts aren’t working. Otherwise, more people would be confused and/or outraged by stories like this:
“The Federal Reserve intends to hire a veteran lobbyist as it seeks to counter skepticism in Congress about the central bank’s growing power over the U.S. financial system, people familiar with the matter said.”
Shouldn’t more people, especially those who assume the Fed is an entirely public federal department or agency, be wondering why a creation of Congress should need to lobby Congress?
Shouldn’t more people wonder about the ethicality of an entity created by, nominally regulated by, allegedly answering to, and managing the national money supply on behalf of the federal government lobbying the same?
Shouldn’t more people wonder why the health of our economy largely rests in the hands of a quasi-private entity that cannot be audited?
Shouldn’t more people wonder why the Fed is free to lobby Congress but Congress isn’t free to end the Fed’s contract and get someone else to do the job?
Shouldn’t more people wonder why the Fed feels their theories, policies, and results either don’t speak for themselves or speak poorly of the Fed?
Shouldn’t more people wonder why the Fed reacts to the threat of being audited (HR 1207) with congressional brown-nosing and propaganda?
Where’s the media coverage? Where’s the outrage?!