Rating: ****
Tags: Business & Economics, General, Lang:en
Publisher: Ludwig von Mies Institute, Auburn University
Added: March 28, 2020
Modified: November 5, 2021
Summary
"By far the most secret and least accountable operation of
the federal government is not, as one might expect, the CIA,
DIA, or some other super-secret intelligence agency. They are
accountable: a Congressional committee supervises these
operations, controls their budgets, and is informed of the
covert activities. It is little known that there is a federal
agency that tops the others in secrecy by a country mile. The
Federal Reserve System is accountable to no one; it has no
budget; it is subject to no audit; and no Congressional
committee knows or, or can truly supervise, its operations.
The Federal Reserve, virtually in total control of the
nation's vital monetary system, is accountable to nobody--and
this strange situation, if acknowledged at all, is invariably
trumpeted as a virtue"--Page 4 of cover.