I am moved to set up our Presidential Rankings after watching Jim Rogers on Youtube suggest closing down the Fed and firing Bernanke.
Mr. Rogers is entertaining, but that is not the real reason for including the video. Dear CNBC, I am available as a commentator. I can put on a fake downmarket Brit accent and sound as stupid as the commentators (their accents aren't fake, but they do sound stupid). Granted, I don't look as good as Maria, but she doesn't look as good as she used to.
But I digress. Rogers is decrying the socialization of the losses. I was wondering if we really do need a fed. I did some imperfect research. According to a goldbug, Howard Katz, the Fed is our third national bank. We have done without a Fed before. Mr. Katz opines that the Fed serves not our interests, but those of a few.
I am not an expert in economics. As a Polish American major at a reserve intelligence school I attended (don't laugh) used to say, "I have all my money in cash." In the next few years, I expect to be getting a W-2 from the blood bank as I shall have to find tuition resources for my kids.
Still, I have some opinions about the Fed. One rationale for its existence was to make sure we did not have those old panics and crashes. How did that work out from 1929 to WWII?
Thus to our ranking. Two prezzies who go up in value are Andrew Jackson and US Grant. Jackson for vetoing the National Bank Charter extension and Grant because he vetoed the Inflation Bill which would have been the 19th Century equivalent of Helicopter Ben throwing money out the window. Grant had the excesses to deal with of a war he did not start but did more than anyone other than Sherman to end.
I specifically put these men above Madison, Polk, Lincoln, McKinley, Wilson, Roosevelt, Truman, Johnson, Bush and Bush. Why? If these lads were so great, they would have been smart enough to figure out how to avoid a war. J&G were at least not warmongers.
In our rankings, avoiding war gets you extra points.