Sunday, September 21, 2014

The Fed Then And Now – Remembering William McChesney Martin, Jr.

Zerohedge has some advice from former Fed Chairman William McChesney Martin, Jr.:
''My gracious, here I am, the new Chairman of the Fed, and I'm doing my best. I'm not the brightest fellow in the world but I'm working hard on this, and I haven't the faintest idea of how you figure the money supply. Yet everybody thinks I have it at my fingertips. They don't really know what the money supply is now, even today. I'm not trying to make fun of it but a lot of it is just almost superstition.”
Imagine that.