snyps said:
Seðlabanki Íslands (cb) is administered by a governor and a seven-member supervisory board, elected by the country's parliament following each general election. http://en.wikipedia.org/wiki/Central_Bank_of_Iceland
The members of the Fed's Board of Governors, including its chairman and vice-chairman, are chosen by the President and confirmed by the Senate. Nationally chartered commercial banks are entitled to elect some of the members of the board of the regional Federal Reserve Bank. http://en.wikipedia.org/wiki/Federal_Reserve_System (i admit i misread regional).
So to your four points, no, no, no, and yes, well sort of, actually no. Private banks do have a say in who is chosen by the president to be on the board of govenors. Banks are the largest contributors to presidential elections (except Ron Paul of coarse) and get themselves appointmented. http://www.opensecrets.org/pres08/contrib.php?cycle=2008&cid=N00009638 http://www.opensecrets.org/pres12/contrib.php?cycle=2012&id=N00000286
So just plain no, nice try. |
You've made some mistakes by some poor reading comprhension here.
1) You missed the most important point there. By the country pariliment.
An election and an appointment are the same thing when done by previously elected people. People don't get to vote for this.
The Icelandic Parliment decides. Just like congress votes on if they want a candidate to be a Federal Reserve BOG member.
2) Board of REGIONAL govonors.
You admit you misread it... then yet totally still pretend your right. Quit baffling.
The regional board of govonors are the Board of govonors for specific federal reserve regional banks. Not the actual Federal Reserve. They're the equilvenet of Management at a Walkmart store vs a Walmart CEOs.
They take orders from the 12 Regional Presidents (Who happen to be the 12 board of govnors members) and just do what they say. The best they get to do is lobby for policy changes and conduct research. They aren't any more powerful then your average lobbyist.
They don't actually make any decisions outside setting discount rates. Which have to be approved by the Federal Reserve Board oF Govonors.
So... they don't actually make any decisions.
It's a purely advisory role which the national board of govonors is free to ignore.
Conspiracy theoriests basically just rely on people not being able to notice the difference between the Board of Directors and the Regional Board. You've been taken in by lies created by specifically cropping things so you read it how they want you to, instead of how it is.
It's like mixing up an assistant manage with a managing partner of a company.
If you re-read the article you posted you'll note that it specifically alludes to this fact, as you'll note they don't actually mention any real power those guys have outside advising the real Board of Govonors.
3) Your third argument is where your entire position completely comes apart. Your arguement is that banks have a say in the actual board of govonors because they lobby politicians very heavily and therefore their choices might get picked.
Your solution to this is... to make it so Federal Reserve guys are elected... therefore putting them closer to campaign money and making it more important when it comes to elections?
The whole point the Fed Chief is set up sort of like the Supreme court is specifcally too lower the impact of campagin money. If Obama didn't want Janet Yellen he could elect whatever person he wants, because he won't run in another election for the rest of his life. Camapaign contributions are meaningless at this point.
Either way... yeah, i was right.
