Why Is The Fed Tapering ???

As you may have heard, the Federal (sic) Reserve Bank is tapering its bond purchases:

http://www.paulcraigroberts.org/2014/01/30/fed-tapering/

A strategic explanation for tapering is that the growth of US debt and money creation is causing the world to turn a jaundiced eye toward the US dollar and toward its role as world reserve currency.

The former chief economist of the World Bank recently called for terminating the use of the dollar as world reserve currency. He said that “the dominance of the greenback is the root cause of global financial and economic crises.”

The Fed knows that the ability of the US to pay its bills in its own currency is the reason it can stand its large trade imbalance and is the basis for US power. If the dollar loses the reserve currency role, the US becomes just another country with balance of payments and currency problems and an inability to sell its bonds in order to finance its budget deficits.

But maybe something else is happening, too. Who controls the Fed? It's a privately owned entity which has never been subject to audit. Why should we be so concerned about whether Edward Snowden was helped by the Russians ... but apparently not concerned at all whether the Fed is helping one or more non-US entities?

Who would be the chief beneficiary if the US dollar were to fail? Probably China, the rest of the BRICS, and the OPEC states. But another certain beneficiary is our "friend" ISRAEL, who would finally get us off their neck, freeing them to do whatever they want to the Palestinians.

Aren't we about to let an Israeli become the No. 2 man at the Fed? To whom does he owe allegiance: the US or Israel?

http://www.haaretz.com/news/world/1.567961