Greenspan Discusses the End of the Fed ... What Comes Next?

An interesting article in Forbes entitled "If Alan Greenspan Wants To 'End The Fed', Times Must Be Changing," informs us that the predictions we made long ago about the Federal Reserve are coming true. The author of the article is Nathan Lewis, an economist, former strategist for institutional investors and author of a best-selling book Gold, the Once and Future Money.

Our predictions regarding the Fed were first published in May 2009, and were related to a congressional hearing that showed Fed representatives to be woefully unprepared. This was the first inkling we had that the institution itself was in perhaps terminal trouble. Here's what we wrote at the time in an article entited, "Beginning of the End? Fed Cannot Account for $9 Trillion"...

We saw the interview with Elizabeth Coleman on TV and then again and again and again on youtube.com. It is entitled "Is Anyone Minding the Store at the Federal Reserve?" and it is one of the single most astonishing moments (or minutes) ever manifested or preserved in this already-amazing digital era. A century ago, when the powers-that-be pushed through the act that set up the American Federal Reserve – which basically kicked off the central banking era in America and abroad – the kind of technological ubiquity offered by the Internet would certainly have been seen as a major and alarming challenge. Well, it is.

The Grayson/Coleman confrontation has to be seen to be believed, and even then it may not seem quite believable. How could the Fed, in all its monied majesty, offer up someone so unprepared to answer the questions of a single quiet and persevering congressman? Grayson is a liberal, socialist-oriented legislator – a good government type who is fast making a reputation for taking on government corruption. He is pro-regulation but has not been shy about confronting high profile institutions. He may not want to shut down the Federal Reserve but he certainly wants to make it operate under additional scrutiny. And he makes it clear he believes the Fed needs it. And now Coleman knows it.

more here: http://thedailybell.com/28836/Anthony-Wile-Greenspan-Discusses-the-End-of-the-Fed--What-Comes-Next