Hillary’s Sicko Relationship

As a U.S. senator, Hillary Clinton helped arrange for $1.65 billion in low-interest, federally guaranteed “Liberty Bonds” (supposedly earmarked for post-9/11 rebuilding in New York City) to subsidize the construction of Goldman Sachs’ gleaming new headquarters building in Lower Manhattan.  During the 2005 groundbreaking ceremony for the project, she affectionately called the firm her “partner in government.”  Three years later she supported the $10 billion Federal Reserve bailout of her too-big-to-jail “partner.”  In return, Goldman paid her at least $675,000 for three speeches; has donated huge sums to her campaign; and recently prohibited its employees from donating anything to the Trump campaign.  Her son-in-law was handed a hedge fund to manage by the CEO of Goldman Sachs (and reportedly lost 90% of the fund’s value).

So it was no surprise that Hillary feigned great offense at Donald Trump’s recent criticism of the Federal Reserve Board’s policy of “easy money” that pushes interest rates close to zero.  “You should not be commenting on Fed actions when you are either running for president or you are president,” she indignantly declared.

controlling it (the dollar is worth less than 5% of its value in 1913, the year the Fed was created); has caused endless boom-and-bust cycles such as the 2008 real estate market crash; hides the true cost of government, especially the costs of war; and generates what economists call a “political business cycle” as described by Robert Weintraub’s research.

Donald Trump – like former Congressman Ron Paul – is not only within his rights and in keeping with American history to criticize the Fed, but is performing a desperately-needed public service in doing so.  He is a businessman and not an economist, but his economic instincts regarding the Fed are right on the money.  He has criticized it for creating a “bubble economy,” especially a stock market bubble.  His latest criticism is essentially the economically-sound notion that price controls are always and everywhere a bad and destructive idea, and the Fed’s policy of “interest rate targeting” is nothing but price control dressed up in fancy economic lingo.  He hasn’t yet called for an end to the Fed, perhaps because he fears that it might cause Hillary to have another seizure.

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