On Jun 19, 2013, at 1:19 PM, raghu wrote:
On Wed, Jun 19, 2013 at 10:41 AM, Marv Gandall <[email protected]>
wrote:
Excellent post, Jim. I'd add a) "independent" central banks free
from mass political pressure as well as b) binding free trade
agreements with provisions designed to supersede the legislated
gains won over generations by workers and farmers to protect their
living standards as two other devices which the corporations and
their states have used to distance themselves from democratic control.
I wouldn't be too quick to denounce central banks run by
technocrats. Do you really want the Fed to be controlled by the
present Congress infested with Tea Party crazies?
Well, the Congress in theory has at least (but, actually, at most) a
smidgen of democratic responsibility to the electorate. The banksters
who institutionally control the FED have in theory none at all and in
practice even less. In a democracy public officials, including those
at the central bank, would be elected and recallable.
Shane Mage
"Thunderbolt steers all things." Herakleitos of Ephesos, fr. 64
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