You get to be a Fed president like you achieve anything else in life. Hard work! And by the way, there is a lot of infighting among the Fed presidents regarding monetary policy. Anyone who watches CNBC knows that. OK, I'm done with this foolishness. I know the scapegoating will never stop. It's a miracle the Jews survived this long!
Alan Greenspan, before being Fed president, was a partner in a firm that had a horrible forecasting track record. He got into politics for he liked the spotlight and he played his role very well.
So, I completely disagree with the parts of your post I highlighted.
Infighting among Fed presidents? Laughable. Based on what Ive read you post here, you are smarter than that, but you must have to believe all this "conspiracy stuff" has to be 100% hooey.
The perception of infighting has to occur or the game would be more difficult to continue without increased scrutiny. Maybe more people would quit believing what they are told that fed acts in our (the average Americans') best interest when making policy decisions.
Which was and still is precisely the same lie that was told to the people so they not only would accept, but in fact demand, and later applaud that the fed be created.
The same thing has been done via the current mortgage meltdown. The fed, which is the among the primary roots of the housing bubble, is now not only being asked by the average people to fix the problems, the people are demanding it, and the fed gets applauded for attempting to fix the same problems they created for the primary benefit of those within their own circle.
Anything they do to supposedly fix the mortgage problem, will be specifically for their own benefit net vs. what it does to help the average American. Very clever these guys are...create a problem while making more money than they could ever need, get begged to fix the problems (they created) and get worshipped while executing their plans. CNBC is one of their main tools to convey their Robin Hood image.
Anyone that watches CNBC and actually believes anything more than a tiny fraction of the drivel they discuss on that channel, needs to re-examine their own understanding why media such as CNBC exists.