The biggest problem we have with central banks is that they are run by academics with ZERO real world experience. This applies not just at the Fed, but most central banks with the lone exception of Bank of China. The greatest danger this presents is that the money-center banks manipulate the central bankers during states of financial panic and they who are so frightened, they will do whatever the money-center banks tell them
In the USA, there is nobody who would investigate the dark corners of the Federal Reserve being manipulated by the NY bankers who walk on water without ice.
Bank of England Under Investigation for being TOO Friendly with Banks
However, the system is more open in Britain where the bankers do not control the courts as they do in New York City.
Consequently, the Bank of England (BoE) is…
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