Does (Federal Reserve) History Repeat?

Despite a 20% real inflation rate, the Federal Reserve is holding short and long interest rates at near-zero levels.   Just another dreary floater in the sewer of current American monetary and fiscal policies?   Not quite.  In fact, it's likely you weren't even a ward of the nanny state yet - this was 1951.  Harry Truman had basically fired two venerable Federal Reserve Chairmen, including the one whose name graces the Fed's NY building - Marriner Eccles.   This article from ZeroHedge is a must-read.  Bear with it.  See here:  http://www.zerohedge.com/news/who-lying-federal-reserve-or-federal-reserve-and-why-stalin-lost

In an earlier post here you may have noticed that US Government Debt was stratospheric after WWII... possibly as high relative to GDP as now (although I don't think government stats were so thoroughly and slickly manipulated then... my bet is that today's sad financial state is hyperspun-to-the-good and in actuality is far worse than the financial house of America after the biggest money-draining war of all time, to date.)

Well the point of this isn't just that history repeats, it's 1) the stark observation by the writer that the Fed is a very big liar, and 2) the Fed has not always been and does not have to be beholden to the New York Banksters (hope?).

As usual, the baddest of the bad actors reside in the drained swamp known as DC.   I keep saying, we need to put an end to politics as a career if we want to uphold and honor our Constitution.