Nobel Prize-Winning Economist: Federal Reserve System is Corrupt and Undermines Democracy
(Washington's Blog) --
Joseph Stiglitz - former head economist at the World Bank and a nobel-prize winner - said yesterday that the very structure of the Federal Reserve system is so fraught with conflicts that it is "corrupt" and undermines democracy.
Stiglitz said:
"If we [i.e. the World Bank] had seen a governance structure that corresponds to our Federal Reserve system, we would have been yelling and screaming and saying that country does not deserve any assistance, this is a corrupt governing structure."
Stiglitz pointed out that - if another country had presented a plan to reform its financial system, and included a regulatory regime that copied the makeup of the Federal Reserve system - "it would have been a big signal that something is wrong."
Stiglitz stressed that the Fed banks have clear conflicts of interest, since the banks are largely governed by a board of directors that includes officers of the very banks they're supposed to be overseeing:
"So, these are the guys who appointed the guy who bailed them out ... Is that a conflict of interest?
"They would say, 'no conflict of interest, we were just doing our job. But you have to look at the conflicts of interest"...
"The reason you talk about governance is because in a democracy you want people to have confidence ... This is a structure that will undermine confidence in a democracy."...MORE...LINK
FOR LIBERTARIAN NATIONALISM: ANTI-CORPORATIST, ANTI-COMMUNIST, ANTI-GLOBALIST...PRO-SOVEREIGNTY, PRO-POPULIST, PRO-FREE ENTERPRISE
My Other Blog & Comments
News and Information Feed
-
-
Young Americans' wealth has soared since the pandemic22 minutes ago
-
-
-
-
-
-
-
-
-
-
Important Announcement2 hours ago
-
-
-
Open Thread2 hours ago
-
-
-
-
-
-
-
-
-
-
NATO wars4 hours ago
-
-
-
-
-
What Made America Great5 hours ago
-
-
-
-
Earth Day—A Phony Holiday5 hours ago
-
-
-
-
-
-
-
Gates of Vienna News Feed 4/28/20245 hours ago
-
-
-
-
-
-
-
-
-
-
Eugen Dühring9 hours ago
-
Follow the Money10 hours ago
-
The complicated truth about being stalked10 hours ago
-
-
-
-
-
What An Incredible Hike!11 hours ago
-
WHY CAN’T HOTEL ROOMS HAVE PLUNGERS?11 hours ago
-
-
-
-
-
-
A lesson in privilege11 hours ago
-
-
-
-
Why Biden’s Losing Young Voters12 hours ago
-
-
-
-
-
-
Sunday, April 28, 202415 hours ago
-
-
-
Arthur Topham RIP - ZOG Opponent16 hours ago
-
-
The Scramble For Antarctica17 hours ago
-
-
-
The Collapse of The Enlightenment19 hours ago
-
-
-
-
News Briefs – 04/28/202421 hours ago
-
-
All About Ed1 day ago
-
-
-
-
-
-
-
-
Month of the Leader, part 31 day ago
-
-
-
-
-
-
The Kim Iversen Show2 days ago
-
-
-
-
-
-
-
I Called It Five Years Ago!2 days ago
-
A Derb Tribute Show2 days ago
-
The dumbest decision.3 days ago
-
-
-
-
-
-
Democracy For Dummies5 days ago
-
-
-
-
-
-
-
-
Now Argentina Wants To Join NATO1 week ago
-
-
-
-
Tulsi Gabbard Left The Woke War Party3 weeks ago
-
-
-
-
Help Whatfinger Grow…4 weeks ago
-
-
-
Navigating Taxation Policy1 month ago
-
-
-
-
-
-
-
So sorry about tomorrow3 months ago
-
-
-
TFeed Index 20233 months ago
-
-
-
-
Headline 3: Of Christmas And Paganism5 months ago
-
Imagine Being This Desperate5 months ago
-
-
Hardcore7 months ago
-
Media Say ... Gloom And Doom In China7 months ago
-
-
U.S. Openly Militarizes Space8 months ago
-
-
-
-
-
-
Conversations With Cabbies10 months ago
-
-
-
-
Hegemon USA’s War on Truth-Telling11 months ago
-
-
-
-
-
-
-
-
-
Tips1 year ago
-
-
-
-
-
-
Man, Bear, Pig Event Coming1 year ago
-
-
-
-
-
-
-
-
-
What a Wonderful Stocking Stuffer!2 years ago
-
test2 years ago
-
-
-
-
-
#273 – Marc Randolph2 years ago
-
My Farewell Announcement2 years ago
-
My Farewell Announcement2 years ago
-
-
-
-
-
-
-
-
-
-
Farewell, for now3 years ago
-
-
Audio Book Lost Colony of Hatteras3 years ago
-
-
Cancel Yourself3 years ago
-
-
Hello world!3 years ago
-
-
-
-
-
-
The Non-Jewish Origins of Krav Maga3 years ago
-
-
-
Why the Marines are dumping their tanks4 years ago
-
-
-
-
-
-
-
Voxiversity Live Stream6 years ago
-
-
Home: A Recap6 years ago
-
Big Brother’s War on Cash6 years ago
-
-
-
-
By: Osamas Pajamas9 years ago
-
Join Our Mailing List12 years ago
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Friday, March 05, 2010
Former World Bank head says structurally and operationally, the Fed is so corrupt, US wouldn't qualify for World Bank loan
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment