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Tyler Durden – Guest Post: The Federal Reserve And The Pathology of Power

From Zero Hedge:

Guest Post: The Federal Reserve And The Pathology of Power

Submitted by Tyler Durden on 11/18/2010 10:50 -0500

The Federal Reserve is an example not just of run-of-the-mill hubris but of the far more profound Pathology of Power. The rule of law has been supplanted in the U.S. by self-serving propaganda campaigns serving State and financial Elites: this is the Pathology of Power. The Federal Reserve is an instructive example because it is so blatant. Despite the dearth of evidence that goosing the stock market actually generates a “wealth effect” which “trickles down” from the top 10% who own the vast majority of equities to the bottom 90%, the Fed has waged a ceaseless propaganda campaign claiming this policy goal is now essential for the nation’s well-being. No mention of its positive effect on Wall Street; cui bono (to whose benefit?) indeed.

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