ZIRP (Zero Interest Rate Policy)...by the way it didn't work in Japan

Today the Fed cut it target rate to a range between 0% and .25%. The article below and chart reflect my feelings, better than I can restate them, on this unprecedented move by the Fed.

http://market-ticker.denninger.net/archives/691-Welcome-to-ZIRP.html

Also this morning Obama held a press conference on the economy and made the following statement before the Fed announced its rate cut.

"I don't think it is good policy for the President or President Elect to second guess the Fed which is an independent body."

Well I don’t think it is good policy for The Fed to be an independent body. Who really controls the county? The President with Congress and the people or The Fed? I think it might be painfully obvious now that he who controls the money controls the power. There is no constitutional authority for the Fed to even exist and I think it is about time they go away.