A Quote by Ben Bernanke
The Federal Reserve, like other central banks, wields powerful tools; democratic accountability requires that the public be able to see how and for what purposes those tools are being used.
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Transparency concerning the Federal Reserve's conduct of monetary policy is desirable because better public understanding enhances the effectiveness of policy. More important, however, is that transparent communications reflect the Federal Reserve's commitment to accountability within our democratic system of government.
The Federal Reserve ranks among the most transparent central banks. We publish a summary of our balance sheet every week. Our financial statements are audited annually by an outside auditor and made public. Every security we hold is listed on the website of the Federal Reserve Bank of New York.
Science is a tool, and we invent tools to do things we want. It's a question of how those tools are used by people.
The increase in the assets of the Federal Reserve Banks from 143 Million dollars in 1913 to 45 Billion dollars in 1949 went directly to the private stockholders of the [Federal Reserve] banks.
If the fiscal cliff occurs, I don't think the Federal Reserve has the tools to offset that event.
The Federal Reserve and other central banks have adopted broad public policy objectives to guide the development and oversight of the payments system. At the Fed, we have identified efficiency and safety as our most fundamental objectives, as set forth in our Policy on Payment System Risk.
We make tools for people. Tools to create, tools to communicate. The age we're living in, these tools surprise you. ... That's why I love what we do. Because we make these tools, and we're constantly surprised with what people do with them.
It remains the task of governments to implement the fundamental human rights standards which should influence all aspects of globalisation, including even trade talks, and to be answerable for this in a democratic way. The structure is international, but the accountability is national and I would like to see that accountability being more penetrating at regional and local level, especially in federal systems.
I feel like the beauty of this age of filmmaking is that there are more tools at your disposal, but it doesn’t mean that any of these new tools are automatically the right tools. And there are a lot of situations where we went very much old school and in fact used CG more to remove things than to add things.
The best thing we can do is give students the tools for constructing their own identities - powerful new tools like African fractals - and then just get out of the way.
The Federal Reserve Act requires the Federal Reserve to report annually on its operations and to publish its balance sheet weekly.
I think it would be interesting to know about the Federal Reserve. I think we should audit the Federal Reserve - it's taxpayer's money that's being used there.
Schools should be democratic public spheres. They should be places that educate people to be informed, to learn how to govern rather than be governed, to take justice seriously, to spur the radical imagination, to give them the tools that they need to be able to both relate to themselves and others in the wider world. I mean, at the heart of any education that matters, is a central question: How can you imagine a future much different than the present, and a future that basically grounds itself in questions of economic, political and social justice?
When I get sick, I go to my doctor like everyone else. A doctor has powerful tools that may help me. Or those tools may hurt me, make me worse. I have to decide. It's my life. It's my responsibility.
The States is run by the Federal Reserve, an institution that answers only to itself and to a few large banks. It's modelled on the Bank of England. Ben Franklin said that one of the main reasons America revolted was to get away from the Bank of England, the mother of all central banks - the most pernicious and insidious of all.
So: if the chronic inflation undergone by Americans, and in almost every other country, is caused by the continuing creation of new money, and if in each country its governmental "Central Bank" (in the United States, the Federal Reserve) is the sole monopoly source and creator of all money, who then is responsible for the blight of inflation? Who except the very institution that is solely empowered to create money, that is, the Fed (and the Bank of England, and the Bank of Italy, and other central banks) itself?
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