The inconsistency of a central bank ?The inconsistency of a central bank in its policymaking has serious repercussions when it comes to stabilizing the economy. New classical economists believe that when people have rational expectations and try to anticipate monetary policies, it is important that the central bank keep its word and be consistent with... | |
Answer: C
However, if you are referring to the Federal Reserve, its entire concept is a violation of the original Constitution and the Forefathers never intended in allowing the central bank's duties and control to be in the hands of private banks or privately controlled. The central bank is no longer Federal, or governmental. It is private and because of this, we have gotten rid of our gold standard and predicated our structure on the GNP for over 300 million US citizens. The Treasury, which is nothing like the Federal Reserve and a separate entity and much larger and also another private organization, places a value of the human life of an American at $1.5 million dollars down from $2M one year ago. The ridden of the US gold standard allows the Fed to print FIAT money which has no value and any value at all is based on other people's belief that it has value when no intrinsic value exists. Question: Where is the gold which was vaulted in Fort Knox now? Answer: no one knows and it may have been removed and pillaged and allot of it sent back to Great Britain in 1971.
