patches70 wrote:Ray Rider wrote:At least we in most Western nations have a greater degree of democratic representation at the highest levels of government compared to the EU. MEPs Daniel Hannan and Nigel Farage have been preaching about this for years.
You may be right about that Ray, at least that's how the conventional thinking goes. In the EU they are certainly slaves to the technocrats in Brussels, worse off than, say, we in the US.
However, I'd ask you a question, though I don't know if you are a US citizen or not nor how much you know about the US monetary system but the question is-
In what election do the people help determine or decide The Fed policy?
Answer that question and then you may see closer to what I am referring to, in that we are all living under the thumb of small groups of individuals who make the most important decisions about the value of the currency we use. And these people are almost in every case, unelected, unaccountable and unreachable by regular old citizens though all the decisions of these tiny groups of people affect every single person in said system.
But, that's another topic for another thread I'd think.
I hope things are going well for you Ray.
Peace.
Thanks, I'm taking my last dose of chemo today--just about finished!
And my apologies, I realize this is really late but better late than never. Yes, it looks like your elections in the US have very little effect on the Fed policy and I sympathize with you in that. Here in Canada I believe our elected government has considerably more sway, actually to the point where it has been criticized (rightly or wrongly) with influencing interest rates and/or
monetary policy too much. But anyway, back on topic here, I thought this was a pretty good quote relating to the situation in Ukraine:
"I think Putin is playing chess and we're playing marbles." -- US House Intelligence Committee Chairman Mike Rogers