I have never heard anyone label the Federal Reserve Board a “cartel”….until I read an article recently by Dr. Ellen Brown, J.D. It’s a pretty strong word, cartel, and likening the Fed to it, well, that just solicits discussion.

Dr. Brown has an excellent, easy to read writing style. She frames complex, financial instrument terminology lingo into layman’s terms. Well, not quite layman’s terms but let’s just say, she surely makes twisted concepts, somewhat more “digestible.”

In the article, Credit Default Swaps: Evolving Financial Meltdown and Derivative Disaster Du Jour, Dr. Brown hits on the topic of the “Wall Street Ponzi Scheme.” Does this imply that the U.S. banking system and perhaps the entire monetary system, is one big Ponzi scheme?
Gulp.

Dr. Brown also goes into Credit Derivatives, a topic many investors, including myself, can’t really get their heads around. Pretty twisted stuff. These two topics are explored by Brown briefly but very concisely in this article which I recommend anyone to take a look at if you are just beginning to understand how the U.S. monetary system works. (Article found here: http://www.globalresearch.ca/index.php?context=va&aid=8634)

However, I really do want to solicit commentary on the title of this post. Is it fair to liken the Fed to a cartel?

The professors in my MBA program touted the Fed as “the” authority on monetary policy and as the necessary component for the ongoing stability of the U.S. monetary system. Its only been in recent years that I’ve encountered the varying opinions on this non-governmental entity and I’m still gathering different perspectives on this.

So…..is the Fed a cartel? Inquiring minds want to know.