“Dear Fed, Please STFU!”

Dear Fed,
We have come to a point in time where you are causing more harm than good. For decades, your role as not only the central bank to the US, but to the entire financial world helped ensure confidence in a fiat economy. Central control of a nation’s monetary system is undoubtedly an incredibly important role. You know this. After all, you were created in 1913 in response to systemic banking crises and failures in the years prior. You were created to prevent crises from happening.
Damage control was always key to your central mission from the very start, achieved through the ‘dual mandate’ of maximizing employment and stabilizing prices. However, in time you became much more than the organization which was tasked with controlling monetary policy. Rather than respond to shocks, you actually became the reason for shocks by believing you had so much power that you could control boom and bust cycles. More importantly, you believed you could predict the future by creating it.
It doesn’t take much analysis to prove that you have no control over the future. While your former Chairman, Bernanke, claimed to have the ‘courage to act,’ somehow all of the tomes of economic research and analysis, and all of that belief that you had control caused you to completely miss the housing bubble and conditions that led up to one of the greatest economic crises since your very founding. While you can deny this all you want, video interviews by Ben Bernanke clearly prove otherwise (click here to jog your memory). Words matter.

This post was published at Zero Hedge on Aug 31, 2016.