“I don’t think the market needs any help from congress. What is your point?”
Then you misunderstand free market capitalism. It requires laws that protect the rights of property and tort law to enable trust in commerce. So, yes, it does need a limited amount of ‘help’.
Money and banking is also a matter of trust. Ideally, money should be a stable and consistent measure of value. A central bank is not required for this to happen, but it can be an enabler.
” I don’t want congress or the fed meddling with the markets.”
The Federal reserve policy should be stable value of money. Nothing more.
‘Meddling’ to support that goal is ok, meddling to try to micro-manage economic cycles or bail out institutions - not ok.
“Then you misunderstand free market capitalism. It requires laws that protect the rights of property and tort law to enable trust in commerce. So, yes, it does need a limited amount of ‘help’.”
Those laws are general laws about fairness. They are for fairness and justice in a society. They are not created for a market to work they are created for fairness and justice . Markets do not require them in order to function. The federal reserve has nothing to do with fairness or justice. Totally different. It might be fair, but than again it might not. You don’t want us to know. But it does necessarily meddle with the markets with every word it utters.
“Money and banking is also a matter of trust. Ideally, money should be a stable and consistent measure of value. A central bank is not required for this to happen, but it can be an enabler.”
Or it can make the problem worse.
“The Federal reserve policy should be stable value of money. Nothing more.
‘Meddling’ to support that goal is ok, meddling to try to micro-manage economic cycles or bail out institutions - not ok.”
We can have no idea what the actual federal reserve policy is because you don’t want us to know. Whether or not they are doing it for private gain in some manner (helping out their buddies) is something you want to pretend is impossible because they are technically not part of the government and to you only elected officials can be bad, which is an absolutely ridiculous idea.