I like Dr. Paul Krugman primarily because he so consistent and uniform in applying and reasoning his economic theory and I find that refreshing particularly in a world that seems to chide commitment. True, I disagree with his theory not because it is unsound theory, in the collegiate domain of discourse, it’s actually quite believable. However, once the confines of theoretical context is breached, there the believability ends.
As my “regulars” know, I post regularly to “Dr. Paul’s” column and occasionally I re-post them here on the “TIMF” site for distribution to points unknown. Here is one from earlier today that I thought met the test of “value”:
“Dr. Paul, the Fed has no credibility, moreover, it neither looks to express nor endorse credibility. Frankly, as a student of the Feds practices and slippery parlance I’m inclined to say that it deliberately looks to avoid even the slightest notion of credibility for the simply reason that eases an escape from accountability. Think, if only, of the years of mindless babble from various Fred Chairmen, the repetitiveness of stern sophistry in opposition to any form of oversight and I trust one can easily endorse my point.
The Fed loves these arcane and apocryphal forms of numerology precisely because they are so disparate and, ultimately, meaningless. I see it, i.e., the prognostications of the Fed, as most others do which is something akin to juggling snowflakes in a wind storm. When you control the content and the domain of its interpretation, one is also afforded the endorsement of its application. No, they don’t attempt to hit the target, they simply move it to capture the effect of the events trajectory. Nice domain!
The Fed serves one single and solitary purpose and that is this: to uses the devise of finance to penetrate and control “political- economy” to an “advantage”. It is that simple! Knowing and appreciating the estimable qualities of your intellect surely you will appreciate Mr. Rothschild’s own words: “Give me control of a nation’s money and I care not who makes it’s laws”
The mistake one might make is to think of this observation as the oft-repeated “conspiracy of global governance” at work but of course, that’s quite beside the point isn’t it. The practical reality is this: what possible explanation could there be for sanctioning the control of an entire nations (and perhaps much of the world) economic lively-hood to the faceless, shapeless albatross we call the FED? Surely no one who observes the Feds administrative prowess resolves to the belief that their performance represents the highest evolution of sound monetary policy in practice!
It is, in the final and ultimate analysis, only the precision by which the Fed masters the cycle of predation that its supreme capability and purpose is manifest and as with the Federal Government, the reason for why both are so completely void of a single event were they might claim universal and persistent (beneficial) success to The People it is charged to serve.”
Curtis Greco, Founder