Fed Power

Fed Power

How Finance Wins

Book - 2016
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"Fed Power reveals how America's central bank undermined democratic accountability and widened economic inequality. It traces the Fed's historic rise to unparalleled power and capacity on domestic policy and its unilateral decisions during the 2008-9 financial crisis to leverage half of the country's net worth to the benefit of finance"--
Publisher: New York, NY : Oxford University Press, [2016]
Copyright Date: ©2016
ISBN: 9780199388967
Branch Call Number: 332.11 JACOBS
Characteristics: viii, 252 pages : illustrations ; 25 cm
Additional Contributors: King, Desmond S. - Author


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Mar 26, 2016

This starts off great, but the devolves into a complete wishy-washy piece. The authors are somewhat misleading on a number of major points: they claim the Fed isn't all-powerful, but if that's the case then why did the judge quash Carmen Segarra's lawsuit, completely justified? And if not all-powerful, why not a forensic audit of them [and the CIA, NSA, DIA, et cetera]?
The authors avoid explaining to the reader the Federal Reserve's ultimate super-power: the ultimate entitlement to create money, and thus to exert control over it!
Read this book side-by-side with Ellen Brown's exceptional book, The Web of Debt - - the authors will come off looking like clowns!
They also make a mish-mash of the real history behind the Federal Reserve legistion of 1913, not explaining the true circumstances surrounding it, misleading and misinforming us, claiming it was a deal between the lawyers [lawmakers] and the bankers, whereas the congress types were owned or connected to the banksters; e.g., Nelson Aldrich was a member of the Rockefeller family by way of marriage. The authors cite Martin Feldstein of Harvard several times as some sort of legendary expert, so let's review Feldstein's legendary expertise: was a director at HCA when it was hit with the largest out-of-court penalty settlement for Medicare/Medicaid fraud; was a director at Eli Lilly when it was hit with the largest criminal penalty at that time in US history; was a director at AIG/Financial Products, when they sold $460 billion worth of credit default swaps, with a potential payout of $40 trillion [now why don't they ever mention this factoid, one wonders?????] leading to the global economic meltdown - - Martin Feldstein, legendary director of fraud!


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