Skip to content

Fischer at Fed

I am not happy about Obama’s nominating Stanley Fischer to be vice chairman of the Fed.  Fischer, a dual national, has just completed a term as chairman of Israel’s central bank. He has a distinguished record at MIT and the IMF, but I would prefer a Fed governor who does not have divided loyalties.  He can be a dual national or a senior US official, but I don’t think he should be both.  If he wants to be Fed vice chairman,he should renounce his Israeli citizenship.  That may be impossible since all Jews have a right of return to Israel,but somehow he should demonstrate that if US and Israeli interests conflict, he will represent the US.

In addition, Paul Volcker, Alan Greenspan, Ben Bernanke, and Janet Yellen are all Jewish.  It looks like Jews control the banking system in the US.  Now we will have as the second-ranking Fed official a man who is not only Jewish; he is Israeli.  Anglos and Christians need not apply. Jews control most of the banking system in the US.  Even if you have a bank CEO who is not Jewish, like Jamie Dimon at JP Morgan Chase, I’m sure he has lots of senior Jews just beneath him.

I am not worried about Jews per se; they are not a monolithic group; they are Republicans and Democrats.  But I worry that .some Jews represent the tiny Israeli tiny tail that often wags the US dog, not only regarding financial and economic policy, but in foreign affairs and military policy as well.  I think Volcker and Bernanke were excellent Fed chairs, but what if we have conflicting interests with Israel, over exchange rates for example.  I would prefer that senior US officials be 100% American.

Leave a Reply

Your email address will not be published. Required fields are marked *