Swing - you nailed it precisely. The bankster apologists (toddster, panama, et al) believe in the free market for everything but money, which is logically inconsistent.
Somehow the market is smart enough to figure out the correct pricing for oil, wheat, steel, copper, corn, cars (oops not anymore), houses (oops not anymore).
But the price of money (i.e. interest rates)? NOOOOOO. That has to be managed by a Soviet command economy style process. Big Ben and Timmy (and let’s not forget mister bubbles himself, Greenspan) have done such a great job, haven’t they?
I have to hand it to the banksters though, they have done an excellent PR / brainwashing job here - they’ve convinced almost everyone.
Forget, for the moment, Fed targets for overnight interest rates, what about the money supply?