Presidential Candidates, the Fed, and Status Quo

August 6, 2020June 9, 2021 Stan

The battle for President of the United States between Hillary Clinton and Donald Trump rages on towards the finish line, nasty as ever. Despite blinding differences, they each seem to rely on an historically-authoritarian style of delivery (based on dualistic thinking) to underscore their obvious superiority over the other: Insider/outsider, right/wrong, good/bad, black/white, smart/stupid, experience/no experience, etc. Yet does Nero fiddle while Rome burns? Methinks yes. Like an unattended, festering wound, deeper causation of a messed-up world undermines the lives of everyday people both left and right.

“Church of the Sacred Fed”

A September 2016 Truthout article by Dean Baker, Hillary Clinton and the Church of the Sacred Fed, only confirms the ongoing reluctance to tackle the larger issue of a broken monetary system. Mr. Baker shares the disparate views of the candidates to launch his description of the Fed’s inner workings via funny religious metaphors such as Robert Rubin’s “doctrine of the sacred Fed” and the “anointed” referring to members of the Federal Reserve Board.

Hillary Clinton is said to have “denounced” Donald Trump for his comments calling on the Federal Reserve Board to raise interest rates. Apparently, however, this was not her real reason for denouncing him. Her real reason was:

“You should not be commenting on Fed actions when you are either running for president or you are president.”

Disappointing but not surprising, the article fails to venture beyond the Fed’s shoreline to reveal the skewed mathematical mechanics that drive a global monetary system, and the erosive damage to economic stability left in its wake. You see, anyone who makes the effort to learn about how central banks work (The Fed for the U.S.) discovers that, today, only the deep state of powerful self-interest (typically those at the top of money pyramid and their governmental cronies) actually benefit… and not by accident; whereas everyday people lose ground little by little over time.

In my view, this exchange between presidential candidates of differing perspective on the Fed exists safely within the shores of the status quo since there is no money in truth. Will the root cause of the lack of economic growth, increasing poverty and homelessness, incomes not keeping up with the cost of living, mounting personal debt and the stress that is literally killing people, ever be revealed and understood so genuine solutions might be put forth?

I wonder.