15+Lots of Zeros

[Minute]

Someone explain this to me. It sounds like we should be storming the Fed.

[Lurker]

That guy sounds like a kook. Embar posted nearly the same "ZOMG TRILLIONS!!!" hysterics while the transfers were happening.

I explained at the time that "that money will be coming back into the Treasury nearly as fast as it goes out".

This Politifact article seems to respond directly to that guys allegations.

[Minute]

I see. It does scare me a little to see this in the result though "His assertion that a great deal of money went overseas might be true, but no one knows". I personally never understood how the fed could be made up of unelected officials but the answer of 'no one knows' seems like it should be a bad thing?

[Ddrak]

It doesn't sound quite the same a the Politifact article - it's got House of Lords half-truths smeared all over it. I think the Lord is drawing some weird connection with the Fed creating money (which it's perfectly within its right to do) to ease the GFC and some other nuttiness from random people.

And... the last thing you want is the Fed being elected. It's hard to oppose a platform of "I'll create a bunch of cash and give it out". Appointed *by* an elected official is a far, far better option.

Dd