Karl Marx was a big fan of central banking. He wrote supported the “Centralisation of credit in the hands of the state, by means of a national bank with State capital and an exclusive monopoly.” Yikes. Has the whole world gone Marxian or something?
Well, it isn’t just the Bernie Sanders and AOCs of the world who adore socialism. The New York Federal Reserve seems to as well.
New York Fed Bank President John Williams said in a speech:
“We talk about monetary policy and interest rates and things, but really the Fed has a broader mandate for shared prosperity.”
“We talk about monetary policy and interest rates and things, but really the Fed has a broader mandate for shared prosperity.”
—John Williams, President and CEO, @NewYorkFed. #FedListens pic.twitter.com/CcDfxQAs7r— New York Fed (@NewYorkFed) July 8, 2019
Huh?
This is as bad as the Fed claiming that it needs to do more for LGBT employment.
What are these folks talking about? End the Fed.
(H/T EPJ).
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