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Westlake Legal Group > Posts tagged "Financial Services Committee"

Noted Economics Experts AOC Apparently Doesn’t Know What the Federal Reserve Is

Westlake Legal Group Untitled-6 Noted Economics Experts AOC Apparently Doesn’t Know What the Federal Reserve Is Uncategorized Libra House hearing Grand-Standing Front Page Stories Financial Services Committee Federal Reserve Featured Story facebook Economics Expert ebay cryptocurrency Congress AOC Alexandria Ocasio-Cortez

One of the worst parts of Congress are the public hearing. They almost never accomplish anything, nor reveal new information, and simply serve as a visual medium for egotistical, press hungry members to grandstand.

Naturally, that means Alexandria Ocasio-Cortez absolutely loves them.

Because big government is always inherently good, despite millennia of evidence to the contrary, she decided to to go after cryptocurrency.

Now, it may be true that big corporations are motivated to build the Libra as a currency to buy their products. The question should be, so what? As American companies, they’ll still be regulated just like they’ve always been regulated. She might as well have been asking McDonald’s if they serve breakfast burritos. The answer would of been yes and it would have been just as meaningful as this supposed “gotcha” moment.

I say supposed because AOC, despite claiming to have an economics degree and wanting to remake the whole economy in her image, apparently doesn’t how the Federal Reserve operates.

Her defenders will now rush and tell us “well, ACKSHUALLY the President appoints the board of governors for the Federal Reserve and that’s totally what she meant.”

Quick thought exercise. Would any Democrat or AOC herself consider Brett Kavanaugh democratically elected? I’m going to go with a no on that with a confidence level of so high that it’d make Cheech and Chong envious.

The overarching point is that the Fed has essentially no accountability whatsoever. It’s a bunch of a people from the business world with fourteen year appoints that basically do whatever they want and voters can’t check like they can other positions. We can’t even get a bill through that will allow an audit of what they are doing. But AOC thinks he’s just entered the gotcha hall of fame by pointing out that private companies aren’t democratically elected. Well no, but they are subject to market forces, which serve as a much better check on power than a bloated federal government that can’t manage anything properly.

The reason cryptocurrency is gaining popularity is precisely because it’s more open and transparent compared to the secretive gyrations of the Fed. But because it would place monetary policy outside of AOC’s hands within government, she’s against it. That’s really her litmus test for everything.

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The post Noted Economics Experts AOC Apparently Doesn’t Know What the Federal Reserve Is appeared first on RedState.

Westlake Legal Group Untitled-6-300x169 Noted Economics Experts AOC Apparently Doesn’t Know What the Federal Reserve Is Uncategorized Libra House hearing Grand-Standing Front Page Stories Financial Services Committee Federal Reserve Featured Story facebook Economics Expert ebay cryptocurrency Congress AOC Alexandria Ocasio-Cortez  Real Estate, and Personal Injury Lawyers. Contact us at: https://westlakelegal.com