Further contributing to the disturbing trend against monetaryfreedom and financial privacy are initiatives like the Foreign Account Tax Compliance Act ( FATCA), which has been written about many times on these pages and also in The New York Times.
There is mounting evidence that the Fed is drifting further and further away from a monetary regime consistent with limited government, economic freedom, and sound money.
LDP, but also big business and the finance ministry, which wants monetary policy kept loose so that it has more freedom to begin fixing the government's finances.
The argument is that although the Bank of England may theoretically be making autonomous decisions, in practice its freedom of action will be completely constrained by the monetary policy of the much larger euro zone.