This saying appears in many different forms, but the earliest version is probably that of the poet and philosopher George Santayana: "Those who cannot remember the past are condemned to repeat it."

The fed serves two purposes

1)  They run the economy vis setting interest rates

2)  They are not run by politicians

3)  They can swing MASSIVE MASSIVE amounts of money secretly

I would argue that you clearly need someone running the economy on your behalf and if its not the fed then its coca cola or congress.  I believe that regardless of actions of the current fed individuals that the function needs to be done and needs to be done by a non congress non presidential entity.

Would you have rather had Bush Jr running the interest rates for 8 years?

Would you have rather had Nancy Pelosi and congress in charge of deciding who got the 1 trillion in bailouts that the fed pumped into the world economy without letting the voters know so that no one had panic attacks?  Very few of them can keep a secret or can understand in 24 hours how massive an action was required.

Maybe the Fed actions were not pleasing but the function of the Fed needs to exist and needs to be run by bankers who are largely not politically controlled.

and please post more often !!

Happy holidays to you and your loved ones as well !!

Abolishing the Department of Education. A bloated, beaurocratic mess, whose mere creation was opposed by liberals and conservatives alike. I vote for an immediate 10-15 percent reduction in the payroll of the federal government and a balanced budget amendment.

Nice coments 

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