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>The U.S. has the sovereign (and Constitutional) right to create money. The right is actually with congress to have the power to do this. The Fed doesn't have
by wallace_f 7y ago
>The U.S. has the sovereign (and Constitutional) right to create money.
The right is actually with congress to have the power to do this. The Fed doesn't have any constitutional authority to do this.
Money gets its value from real goods and services. So when someone prints new money it steals that value from those who created it. The Fed likes to claim they create value, but they are just money changers.
- tptacek 7y agoIf that's the case, Congress could simply have voted to prevent Treasury or the Fed from doing it. By not doing so, it consented.
- wallace_f 7y agoWould you say that about every othe injustice, instance of cronyism, unconstitutionality or civil rights breach?
- tptacek 7y agoI would say that about most instances in which people claim an administration has overstepped in its use of authority delegated to it by Congress. The people you should be mad at in these situations is Congress.