The Fed Is an Obvious Conspiracy?
By Daily Bell Staff – September 14, 2016Brief
Trump Says Janet Yellen Is Keeping Interest Rates Low So President Obama Can Play Golf … After months of surprising restraint, Donald Trump has finally started spewing conspiracy theories about the Federal Reserve. -SlateSlate writers and editors seem to believe criticism of central banking is “conspiracy theory.”
Specifically Donald Trump’s criticism made a few days ago that Yellen is holding down rates to benefit the Obama administration and the economy generally.
Sounds reasonable to us…………………………
…………………….And the larger point is well taken too. The US central bank was set up in 1913 and its history prior to that was extremely controversial.How can the quasi-mainstream media continue to make such arguments seriously? Interest rates are actually negative in many countries.
And only eight years ago, Ben Bernanke printed up $16 trillion and sent it around the world to make sure the “system” wouldn’t crash.Nobody should have the right to print $16 trillion of anything.
But for some reason Slate that none of this matters. The Fed, you see, is a professional, deliberative body and nothing more.Here: During an interview with CNBC on Monday morning, the Republican presidential nominee suggested that Fed Chair Janet Yellen is keeping interest rates low in order to pump up a “false” stock market during President Obama’s final months in office.
“She’s obviously political,” he said. “She’s doing what Obama wants her to do. And I know that’s not supposed to be the way it is. But that’s why it’s low. Because as soon as they [interest rates] go up, the stock market is going to go way down.”
For good measure, he added that Yellen “should be ashamed of herself.”We are far more supportive of Trump’s argument than Slate’s. And we’re also aware that Slate is owned by the Washington Post. The Post is well-known as a. MORE!!!!!!!!!!!!!!!!!!!!!!!!!!!!