Why is the board of the Federal Reserve Bank reluctant to admit responsibility for anything but setting interest rates on figments of the imagination? Because they do not do anything else.
The Federal Reserve Bank was created to provide a shield for Congress, which does not want to be held accountable for managing the currency. The Fed is like the major domo in a restaurant running interference for the cook, especially when the latter has run out of key ingredients.
Jon Stewart, whose new program, “The Problem,” has been declared a flop by FOX, had an interesting discussion with the MMT people about the reality money is supposed to represent.
I wonder if there is something about symbols and rituals that they come to replace, rather than just represent reality. Perhaps the male hegemonists’ concern with being replaced is valid and their anger is just misdirected.
Proud boys, I have learned, are geldings whose testosterone production system was not totally removed.