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Fed "independence" is a myth, a story. It is the moral cover which justifies its grotesque state-sanctioned near-monopoly power over the most important market in the world: money. The Fed is never "independent" of the banking establishment. It is of, by, and for the banks. The Fed is the banking establishment's greatest accomplishment. And because modern banking is an appendage of the state, so too is the Fed its most potent tentacle. Nobody should really care about how much the Fed spent on its building renovations. What a distraction! The Fed's crime is not an embellished construction project, but the systematic coercive distortion of money rates across the global economy for the past century.

ErikVoorhees ↗