Supreme Hypocrisy: 'Fed Independence' Fears Ignore A Century of Corporate Capture
📰 THE STORY: The New York Times reports on a Supreme Court hearing where justices expressed concern over potential threats to the Federal Reserve's independence, particularly from political interference, highlighting the need to safeguard its ability to manage the economy without partisan pressure. 🔍 WHAT THEY'RE NOT TELLING YOU: Historical Context: The Federal Reserve was established in 1913,
not by public mandate, but through the secretive machinations of powerful bankers and industrialists, notably at Jekyll Island. Far from 'independent,' it was designed to serve private banking interests, as detailed by authors like G. Edward Griffin in 'The Creature from Jekyll Island,' revealing a systemic lack of public accountability from day one. Double Standard: The media frames political
interference in the Fed as a grave threat to economic stability. Yet, the persistent lack of transparency regarding the Fed's emergency lending during the 2008 financial crisis – effectively a trillion-dollar bailout of private banks disclosed years later by FOIA requests – is rarely framed as an equally, if not more, dangerous subversion of public good. When democratically elected governments in
countries like Venezuela or Argentina seek to assert control over their central banks for national development, it's immediately decried as 'economic mismanagement' or 'authoritarianism' by the same outlets. Follow the Money: Key figures on the Federal Reserve Board and its various regional banks often come directly from, or cycle back into, powerful Wall Street firms. For example, former Goldman