Even though he just demonstrated that the system works?
He did? With a wiki link? wow.
I did. Yes. I know.
Look at the graph on the right showing the correlation between independence and inflation rates. It's more information than ideological buzzwords.
Awesome, the fox has spoken. All is well in the hen house.
You still haven't addressed the fact that independence and inflation rates have a strong correlation.
Correlation does not = causation. Besides, this issue is not "inflation" or some cherry picked data.
The issue is the system itself.
Correlation may not equal causation but we're not talking about causes. We are in fact discussing the correlation. I've never claimed causation, just that the data shows that governments which use minimum oversight on their Federal Reserve systems often have lower interest rates, and that is evidence that less oversight on that system may lead to better monetary policies. Also why is it that the United States which has probably the least amount of oversight has traditionally some of the lowest interest rates? How else do you explain this? Do you have anything at all?
You can't decouple interest rates from inflation (interest rates are set by the Fed), so don't try to throw it out as if it's some obscure and irrelevant topic. And do you have any proof that my data is cherry picked or are you just throwing crap at the wall and hoping it sticks? Because if you have proof that there are countries that have low interest rates and have a large amount of oversight on their Federal Reserve then I'm all ears. Again if you're just ideologically opposed to all this then we're not actually having a discussion are we?
What is the issue with the system?
You still haven't address the housing bubble or any one of my question or issues I've raise. No on has spoken to any of them.
House bubble anyone? Fixing interest rates? Hello?
Fine.
You don't see a problem with a private bank creating our currency and loaning it to us at interest? And the fact they artificially set interest rates? Does the housing bubble ring a bell?
Their setting of the
interest rates help drive various economic factors, so no I see no problem with that. And it isn't a private bank it is 12 banks, and no I don't have a problem with them controlling monetary policies because you haven't offered a viable alternative. Can you clarify what the Federal Reserve is responsible for in the housing bubble? Is it the low interest rates making the availability of credit possible? Is that perhaps an
oversimplification of a complicated issue that had multiple "causes"?
What would you do instead? How do you prevent bank runs?