Does The Fed Shave With Occam’s Razor?

George Ford Smith : The Federal Reserve provides the nation with a safe, flexible, and stable monetary and financial system.

Smith: Fed was brainchild of Wall Street banks who wanted a “lender of last resort” and a more elastic currency.

Fed is not a purely market arrangement but a coercive cartel established by the Federal Reserve Act of 1913 .

George Ford Smith : We didn't need an FDIC before the Fed , why does it require one now? Why is gold anathema to central banks in practice while they hoard it on the sly? Smith: Government granting privileges to banks and for other reasons, we have never had honest money or honest banking.