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Private credit markets have been in the headlines this week.
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But I am concerned that the government may do what it usually does in such cases, which is that it investigates itself, takes so long to do so that the public eventually loses interest, eventually it publishes a 2,000 page book of meaningless minutia, and concludes that, aside from a few minor infractions of the law by low-level personnel, everything is fine.
So, I strongly urge Representative Massie and others with influence over this investigation to ensure that all the appointed members of the investigating committee once again declare allegiance to the Constitution of the United States and can prove that they are familiar with Article One that defines the limitations on the issuance of money. Another wise provision would be to require that no more than 50% of the appointees may be dependent on government funding as their primary livelihood income. Furthermore, all actions, documents, and substantive conversations between investigators and/or witnesses should be recorded and, within 24 hours of occurrence, published online for public access. There should be a hard deadline of no more than four months to produce and publish the unredacted findings of the committee. To make this meaningful, it also should include the clear statement that there can be no exceptions to this rule including the claim of national security, for the simple reason that full transparency in matters of this magnitude is essential for national security.
Many politicians will most likely not be willing to endorse such a proposal, but they are the same ones who will do nothing to seriously challenge the Federal Reserve power regardless of the disclosures of the committee. They are talkers, not doers. Their mission is to give us hope, but they will betray us eventually when they fail to support meaningful change. So, let's not play political games any longer. Investigate, yes, But then eliminate! That's our goal, and time to do so is running out!"