Whaat!
The Huffington Post
Elizabeth Warren: Paul Volcker Is My Pick For Fed Chair
Warren didn’t offer any reasons for her endorsement of Volcker beyond saying, “I think he’s terrific,” but it’s likely his credentials may have something to do with it. Volcker, who served as Fed chairman under presidents Jimmy Carter and Ronald Reagan, is largely credited with taming runaway inflation during his tenure.
He also crafted one of the centerpieces of the 2010 Dodd Frank financial reform law-- an eponymous rule that aims to curb banks’ risky bets with their own money. Wall Street lobbyists have whittled down the law some and House Republicans sought to repeal the Volcker rule earlier this year.
22 comments:
"Whaat!"
Indeed...
I guess she thinks he would be a tough regulator.
She's now a politician. Read: bought and paid for.
You said it, Malmo.
What a terrible turn.
Who would be your pick for the job?
I'd pick Mike Norman, Dan Kervick, Matt Franco or Tom Hickey...
"Who would be your pick for the job?"
How about a guy named Warren Mosler. He would set the interest rate at zero, provide liquidity as needed to solvent banks, regulate from the asset side, the tell Treasury not to issue debt over 3 mo, and advise Congress to do its job fiscally, laying out the plan for them.
There's no such thing as a good central banker.
What's with you people? Never seen a balance sheet? If you had then you'd know that money can be issued as Equity, not just as debt.
And while Jesus came to set us free, guess who came to enslave us with debt?
But there's a better central banker,among the choices, which is the point..
"Good" cop, bad cop ...
How about no cop? Huh?
Or is that too much to ask of our so-called "free-market" economy?
Speaking of the "End of History", I reckon it will be The End, and soon too, unless we learn to do money ethically. Otherwise, don't be surprised when "666" comes a-calling. People have already been programmed to accept the mutilation of their skin with tattoos (contrary to Scripture, btw) so that's one less obstacle to the Mark of the Beast.
Religion mucks this up... I'm not the least bit religious either. Sorry.
On the contrary, my points stand alone too. Central banking fails every which way but to be evil and philosophically inconsistent with freedom.
“The few who understand the system will either be so interested in its profits or be so dependent upon its favours that there will be no opposition from that class, while on the other hand, the great body of people, mentally incapable of comprehending the tremendous advantage that capital derives from the system, will bear its burdens without complaint, and perhaps without even suspecting that the system is inimical to their interests.” The Rothschild brothers of London writing to associates in New York, 1863. from http://www.themoneymasters.com/the-money-masters/famous-quotations-on-banking/
Note: My choice of a quote source is not necessarily an endorsement thereof.
If you're really sorry (for your own sake, not mine, since it's no skin off my nose), I suggest you read the entire Bible.
You can start anywhere.
I know the Bible cold. Was raised a reformed Presbyterian. Still don't buy your schtick.
I'm not selling anything.
Presbyterian? Didn't Calvin justify usury?
But even Calvin was against charging the poor ANY interest instead of, in our society, the highest interest (assuming they even qualify for credit)! Nevertheless, the poor still suffer any price inflation that credit creation produces and often lose their jobs during the bust too.
Actually, I like you, F Beard. Just don't agree with you on this matter.
Should we view this as a harbinger for a sea change of elite policy thinking or just as a random bit of idiocy from one of our overrated ivy league elite?
View it as EW being part of the elite. Simple as that.
F.Beard. Do you own any stocks?
EW wants to cut the student loan interest not eliminate it...
She doenst "get the math" imo so she cant get there.
She just thinks "interest has to be charged..." or "Well, we HAVE to charge some type of interest..."
When now that the govt is doing all of the student loans, what she thinks is "interest" is really a TAX...
F. Beard: Under a system of state currency, "interest" charged by banks is really a TAX as the govt authorizes its fiscal agents (ie "the banks") to collect interest as their fee for performing the fiscal agency function...
How do you square this with the Lords recommendation to "pay Ceasar what is Caesars"?
How do you square this with the prophet John's admonition to the tax collectors to "only impose what has been prescribed to you" ?
How do you square this with Paul's directive to pay "to whom tax, tax, to whom tribute, tribute"?
Under state currency systems, so-called "interest" on all loans is mathematically equivalent to taxes... (granted they term it "interest")
Not so under metallic based systems like Israel used when they were under the Law... Israel had no state currency...
rsp,
y, why do you ask?
But no, I don't.
But I've known for a while that the stock market was the end all, be all for Fed policy so I suppose I could have made some money with that knowledge.
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