History, logic and facts have no place in a discussion of the evil Federal Reserve.
It’s a mysterious world to most people who have no real reason to study it. I know that you had a career where the fun world of conspiracy theory wouldn’t survive for a second... maybe as a bond trader... I pay attention to your posts because I can tell that you had real world experience with it. Which naturally makes you a fellow honorary member of the Jekyll Island Secret Society.
My Fed education began in the late 1970s listening to Ed Hart report on the bond market.. the Fed would release money supply data on Thursdays and the Bond Vigilantes would beat the living hell out of bond prices. Not exactly what the Fed was hoping for. Anyone who thinks that the Fed is all powerful certainly wasn’t watching that circus. Anyway that ignited enough curiosity to get me to study the arcane world of money and finance. Ended up getting a Series 7 out of it.