News Release

Is the Fed Both Causing and Exploiting Crises?


Canova is professor of law and public finance at Nova Southeastern University in Ft. Lauderdale, Florida. He said today: “The present crisis reveals some of the big shortcomings in the 2008 bailout approach — starting with a failure to nationalize and prosecute fraudster bankers; a refusal to close down the derivatives markets, cronyism and revolving doors between D.C. policymakers, regulators and banks; and the Federal Reserve’s trickle-down monetary policy, printing money to bailout banks and subsidize financial markets and a casino economy. … There are indications that the Federal Reserve may use the present crisis to try to usher in central bank digital currency (CBDC) and a centralized system of social credit and social control.”

In 2011, Tim was appointed by Senator Bernie Sanders (I-Vt.) to serve on an Advisory Committee on Federal Reserve Reform. He has written extensively on the Federal Reserve, including “The Role of Central Banks in Global Austerity.” Other works are here.