Study of the Hegemony of Parasitism - michaeljgoodnight.com

the Nixon Administration off gold, devaluing the dollar in
August, 1971.
On July 17, 1984, Jack Anderson described the Federal
Open Market Committee (FOMC) in the Washington
Post as "a mysterious council of 12", "the enigmatic
group" with "excessive secrecy" who, says Anderson,
"influence what rates you will pay, how much money will
be available for business to borrow and whether inflation
once again will eat up your earnings and reduce the
value of your bank accounts."
Despite the far-reaching importance of "Volcker's"
decisions, his testimony before Congress is shrouded in
gobbledy-gook; this writer has gone through hundreds of
pages of his testimony without finding a single quotable
phrase about his economic intentions. On July 9, 1984,
Jack Anderson said of Volcker's meetings with high
Treasury officials, "One of them, asked if he could recall
anything Volcker had said during the high-level
meetings, thought a moment and replied, 'I can't
remember anything he said that I understood'."
[Volcker's successor Alan Greenspan was noted for the same
talent. --ed]
Sen. Moynihan noted in the New Republic, Dec. 31,
1983:
"The Fed does not control the precise money supply and cannot precisely
determine interest rates. But it can set the direction and range for both, and
this it did. Anyone who tried to dissent was soundly rapped. Its two dozen or
so central bankers decided to bust the economy, and bust it they did."