If Harry Potter were in charge of the Federal Reserve, I think that magically, everybody would have everything they want instantly or within a reasonable amount of time, with only a small amount of sacrifice for the purpose of keeping people interested in their lives. We would have ministers of magic instead of different Fed district representatives.
People would say things like “Cashtous comehereus” and people would have money in their pockets. Businesses would open up and start hiring again. People would not need money then of course, since if you had magic, you could conjure out of thing air the things you need and bypass a need for a financial system all together in favor of a system of barter or some sort of collective trades or favors. If Harry were running business, he definitely would be interested in fair play (he is a sportsman) and would want everybody to feel good about himself in the end.
Having had one’s parents killed when being a baby would probably make Harry insure that families had enough money so that they wouldn’t have to separate and work in some different time zones as a lot of people are doing now. There are people who live in California, meaning they own their homes here, are unable to sell them or at least want to stay here because of the weather and both the man and woman are working in different cities. It would be great to have some magic to change that wouldn’t it?
Harry of course would screw up our infrastructure in other ways because we have so many jobs dependent on our financial system – banks, service bureaus, credit card companies, etc. – we would have to embrace barter and other types of transactions as something to enter into willingly and faithfully. After all, what makes the dollar sounds or any currency whether it is the yuan, euro or yen is the faith and support of people that believe in it and ability of the currency to be accepted or enforced throughout the places it is used in. Durability is important as well which is why an otherwise useless thing like a mineral like gold has been so desirable throughout history.
Since we don’t have magic or Harry Potter in our Federal Reserve system we are in a position where we really need the heads of the different aspects to try working like an average person and get a feel for the day-to-day problems that those of us without magical owls and squirrels have to deal with. If we don’t have the cash for the mortgage, we lose our homes not to the evil trolls or ogres but to the people that own the title to them who we cannot pay anymore. If we can’t afford to buy food it isn’t a magic spell that is killing us but starvation. The same holds true for lack of medical attention.
We need to get money directly in the hands of people and we need it through the implentation of infrastructure that gets the person at the lowest rung of the totem pole working. People with the ability to vote themselves bonuses will continue to do so and at a certain point, even their considerable wealth won’t help them if everybody around them is out of work. They will end up spending all their money on security systems and armies that will probably end up taking their wealth from them.
I encourage the wealthier mages of industry to please do what they can to get manufacturing started in this country and support America in it’s recovery instead of bailing out of the place where you made your fortune in the first place. You may find that other lands aren’t as friendly or embracing once you start running out of money or the political climate changes and even your best efforts in keeping people happy fail.
The magic we need along with patience is our leaders to get money to the grass roots so we can get people employed again. Workcometous Nowus!
July 25 2009
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If Harry Potter Were In Charge of the Federal Reserve
