Trust the Markets and Not the Mandarins

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“We would do infinitely better trusting the markets than the mandarins at the Federal Reserve.” – Steve Forbes

A conversation with Steve Forbes and Ron Paul.

“Independence does not mean lack of accountability.” -Steve Forbes

“[The Fed] enjoys extraordinary privileges and requires no appropriations from Congress to operate.  To pay for its operations the Fed takes the interest from its bonds, which are bought and paid for by money it creates  out of thin air, and the turns the leftovers to the Treasury Department, talk about the ultimate ATM.” – Steve Forbes

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