Time Magazine Blog: Will the Federal Reserve Cause a Civil War?

Almost two years ago when Obama was elected as the president of the US, I could never have imagined the day would come when a major MSM magazine would run an article that would mention the Federal Reserve and civil war in the same article.

Well the day is here. Even if it is a wimpy, wishy-washy article. And it's beyond my imagination as the author put the Fed and civil war not just in the same article but right up there on the title.

I'm not sure what the author's intent was; mocking Zero Hedge and Ron Paul supporters who bash the Federal Reserve by somehow (in his mind) tying the Fed bashing to militias, maybe. But the whole value, probably the only value, of this article is that it appeared in Time.

From The Curious Capitalist blog on Time Magazine on October 19, 2010, by Stephen Gandel:

Will the Federal Reserve Cause a Civil War?

What is the most likely cause today of civil unrest? Immigration. Gay Marriage. Abortion. The Results of Election Day. The Mosque at Ground Zero. Nope.

Try the Federal Reserve. November 3rd is when the Federal Reserve's next policy committee meeting ends, and if you thought this was just another boring money meeting you would be wrong. It could be the most important meeting in Fed history, maybe. The US central bank is expected to announce its next move to boost the faltering economic recovery. To say there has been considerable debate and anxiety among Fed watchers about what the central bank should do would be an understatement. Chairman Ben Bernanke has indicated in recent speeches that the central bank plans to try to drive down already low-interest rates by buying up long-term bonds. A number of people both inside the Fed and out believe this is the wrong move. But one website seems to believe that Ben's plan might actually lead to armed conflict. Last week, the blog, Zerohedge wrote, paraphrasing a top economic forecaster David Rosenberg, that it believed the Fed's plan is not only moronic, but "positions US society one step closer to civil war if not worse." (See photos inside the world of Ben Bernanke)

I'm not sure what "if not worse," is supposed to mean. But, with the Tea Party gaining followers, the idea of civil war over economic issues doesn't seem that far-fetched these days. And Ron Paul definitely thinks the Fed should be ended. In TIME's recently cover story on the militia movement many said these groups are powder kegs looking for a catalyst. So why not a Fed policy committee meeting. Still, I'm not convinced we are headed for Fedamageddon. That being said, the Fed's early November meeting is an important one."

The article rambles on, and you can read the rest at the link above, if you want.

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