Re:Annual note to self: most of the world exists outside the...
by roymurdock on Sunday August 13, 2017 @01:34PM
(#15003887)
I respect your comments and breadth of knowledge, but wish you would take things a bit less literally and argue/reason at a higher level. I noted all of your points in the comment's [1] footnote - I'm aware of the technicalities, but am making a broader argument. But don't just take it from me, here's an ex-president of the Minneapolis Fed making the same point: https://www.bloomberg.com/view/articles/2017-08-07/maybe-cen...
Do you feel like you are adequately represented in government, and that you can trust elected officials to appoint staff those who will make decisions in the best interest of you, your family, your city, state, nation, etc.?
Re:Annual note to self: most of the world exists outside the...
by dragonwriter on Sunday August 13, 2017 @02:03PM
(#15004047)
> Do you feel like you are adequately represented in government, and that you can trust elected officials to appoint staff those who will make decisions in the best interest of you, your family, your city, state, nation, etc.?
No, but (as my comment history shows) that's because we have what is empirically shown to be a very poor electoral system (among those used in modern democracies), not because officers of the central bank are appointed rather than elected.
Its a self-funded government entity created by law.
> But it certainly feels like hyper-socialism because it undermines of the organizing principle of a democratic society - citizens should have both the right and the duty to elect officials to act on their behalf, and hold them accountable.
Like many government entities, it's officials are appointed by elected officials and powers and priorities are set by elected officials through law; this in no way subverts accountability.