Bob Murphy

Can you imagine the corruption that that would lead to?

So there's lots of elements like that.

Just another example of how the Fed really

was doing all sorts of stuff in secret with no oversight.

You may remember that in the fall of 2008, they engaged in all these extraordinary operations and measures.

They had new term lending facilities and things like this.

And there was a congressional hearing and they called Bernanke before them.

This was in December of 2008.

And he was outlining just all the new measures they were taking and things like that because people were very concerned about inflation and stuff like that.

And all the billions of dollars in loans that had been provided to financial institutions.

And they asked him, they said, Chairman Bernanke, can you give us a list of the recipients of these funds?

And he said, well, no, I can't do that because that would defeat the purpose of the program if the public knew which companies.

So, I mean, if you just stop and think about that, it's not just that the Fed was creating literally billions of dollars just with keystrokes, but they weren't even telling Congress who was getting the

So that's an extraordinary amount of power that's vested in this institution that, oh, that's just this boring thing that regulates monetary policy to trade off inflation, unemployment, when that's a very powerful engine.

And so, yes, I think Besant is...

you know, is taking the lead on trying to sort of rein them in and say, hey, this is ultimately the Fed is a creation of the federal government.

And if it just starts going rogue and doing things that are not in line with what the people wanted and what, you know, the president is there to do, the elected representative thinks is appropriate.

You know, we have all these various measures to reassert our our coordination on that.

So I think that's the tack they're taking.

And then, yes, your broader question is,