From a history perspective, who the fuck are they? And why should I care?
>>17280248You're so edgy
>>17280263It's a serious question, everyone talks about how Jackson was le based for fighting the Central Bank but now we have the Fed. What's the history behind the central bank in America?
>>17280248>>17280280The hullabaloo surrounding its central bank is a unique American phenomenon stemming from the innate American suspicion and paranoia of everything (except for multinational corporations that is lol).The primary polemic point is that it's "independent", i.e the Fed doesn't just print money or change interest rates at the President or Congress's behest, this makes people suspect that they do not have to answer to "the people" and therefore they wield too much power over our lives without being on a leash or other. The argument for this independence is to avoid having an Africa style situation where the President says "print moar money!" and we get the classic Zimbabwean Trillionbazillion dollarydoos worth 2 cents. By not having to obey any politician, the Fed can make polemic but necessary decisions without having to care about the popularity contest or what the (largely) ignorant public thinks. This is pretty much how it works in every First World country, to my knowledge. Third World ones too nowadays, e.g. Brazil right now has its Central Bank chairman butting heads with President Lula over interest rates because Lula wants them to be lowered but the Chairman argues that doing so will cause inflation to go up.
