Good for Ron for stirring these two establishment mullahs to oppose him. But forget their official arguments, which are always a smokescreen in the state-bankster world. Remember that  Greenspan was a J.P. Morgan (i.e., Rockefeller) economist before he ascended to the Fed. Now he works for hedge funds and big banks in NYC. Volcker was vice chairman of Rockefeller’s Chase Manhattan Bank before his apotheosis. Now he runs the J. Rothschild  investment bank on Wall Street. Power-elite analysis is what we need. As Murray Rothbard always said, look to where high state officials come from, and where they go after their terms in office. This is criticized as comspiracy-theorizing, since men like Greenspan and Volcker are guided only by their view of the common good. Hah! Who lines their pockets, and what are their goals? That is what we always want to know for actual political science, let alone Fed analysis.

The Best of Llewellyn H. Rockwell, Jr.