Governments hate freedom.
Yet the laws they pass to “keep order” only create more chaos.
It’s happening right now on a federal level, where government and Federal Reserve policies have created bubbles and busts leading to high unemployment, default, currency collapse, uncertainty … and more chaos.
The existence of the Fed and its effects on our wealth are bad enough, but now it looks as though there will be no shortage of new and damaging Fed policies in the future.
The one voice of concern and criticism of the Fed’s policies that has come from within the Fed itself has come from Richard Fisher. He’s no saint, but at least he warned about the dangers of the Fed’s pouring money into the economy — and of inflation that will inevitably come roaring back.
Now Fisher’s gone from his post as CEO of the Dallas Federal Reserve Bank. Installed in his place is an establishment man, someone who’s unlikely to put up any worthy opposition to the status quo.
A Harvard Business professor and Federal Reserve apologist has just been named CEO of the Federal Reserve Bank of Dallas, replacing Fisher, a noted critic of the Fed’s economic policies.
Oh, and the new guy is also a generous personal donor to the Clintons, as well as the Democratic National Committee.
Incoming CEO Robert Steven Kaplan has given the Clinton Foundation somewhere between $25,000 and $50,000, according to an analysis published Tuesday at The Washington Free Beacon.
In addition to the Clinton funds, Kaplan has also donated a total of $147,450 to Democratic political candidates, $45,600 of which went straight to the Democratic National Committee. He’s also kept things fair and balanced, having donated $15,450 to Republicans — a GOP-Democratic giving ration of roughly 1:10.
There’s still a lot of speculation on how Kaplan will receive the Federal Reserve’s current policy of quantitative easing [QE] and super-low interest rates. But analysts are already contrasting his unknown policy positions with those of Fisher, his immediate predecessor.
“Fisher was known for his many dissents over the central bank’s aggressive response to the 2008 financial crisis and unprecedented efforts to boost the recovery since then,” The Washington Post observes; the Beacon more pointedly describes Fisher as “a critic of the Fed and QE policy.”
Kaplan also will sit on the Federal Open Market Committee (FOMC), the Federal Reserve branch that steers monetary policy (including the buying and selling of securities) and sets interest rates.
There are 12 reserve banks throughout the U.S., headed by a board of governors based in Washington, D.C.
–Bob Livingston contributed to this report.
Editor’s Note: Have you heard the story of the man who first revealed the Fed’s entire plan to devalue the dollar? Less than 100 hours after his book hit the streets the U.S. Secret Service was calling him…
