Gfeenspan followed the one year Treasury, like the others

Whatever we call independent, Greenspan was hardly more independent than the others.  The plot for the entire monetary cycle was to follow the one year, and still is. Look at the orange line, it always leads.



So, what is all the horse manure about more Fed independence?  Who is spewing this crap about independence? Who is claiming Greenspan was any more independent than the others? And why do we create these bizarre fantasies about central banking?

If the Fed were independent, then bankers and others would independently decide to borrow or deposit with the Fed, and that is not so.  My recommendation to economists is create the minimal currency banker, one that is completing in a competitive market. Then once you understand that model, you can apply restrictions and bounds.  Accepting the idiotic idea that central banker is theoretically sound is nutty.