In 1963 Milton Friedman and Anna Jacobson Schwartz published “A Monetary History of the United States 1867-1960″ which should be mandatory reading for any serious work in macro economics especially relating to monetary policy. In Chapter 7 and running for 120 pages is a description of the period 1929-1933 which he calls The Great Contraction. After reading this Chapter of this book of 859 pages there can be no doubt in any rational mind that the FED “caused” the economic collapse that we call The Great Depression.
There is little doubt that the FED also caused the 2008 collapse in the financial markets when the Housing bubble that they created burst. They are now working on a sovereign debt bubble that will be even worse than any that have occurred in the past. The FED needs to be eliminated.
James Longstreet ‘splains what I keep pointing out.
I consider some of the mouthpieces for the Fed to be despicable for what they condone be done to people with pensions and fixed incomes.
I could start with my familiar targets on the right, Larry Kudlow, Bob McTeer. They run cover and blow smoke for a gang of thieves working for the plutocracy, the players in the Stocks and Bonds game.
Here are some of my previous critiques:
http://junkscience.com/?s=mcteer+federal+reserve
To the terrible disadvantage of the citizens who aren’t players.
http://www.americanthinker.com/blog/2015/05/federal_reserve_implies_indirect_tax_on_savings.html
Centinel2012 