4 ms·
Maybe he has issues with debt-to-GDP ratio, federal debt interest payments, bubble in derivatives or whatever. I'm sure there are many valid points of criticism
by veidelis 5y ago
Maybe he has issues with debt-to-GDP ratio, federal debt interest payments, bubble in derivatives or whatever. I'm sure there are many valid points of criticism and maybe the comparison “counterfeit money” is not a statement too far from reality. Why FED has not been audited is one thing to think about.
- credit_guy 5y agoThe Fed is audited [1]. I am personally not a fan of the Fed manipulating the money supply via the FOMC, in particular I consider them to be the main culprit in the 2008 crisis. But it's one thing to disagree with some of the Fed's actions, another to engage in delusions that the Fed is unconsitutitional or it issues "counterfeit" money. The Fed was created by an Act of the Congress. It cannot be any more legal than that. Asking the question "Who owns the Fed" is as meaningless as asking "Who owns the CDC". [1] https://www.federalreserve.gov/faqs/about_12784.htm https://www.federalreserve.gov/faqs/about_12784.htm
- veidelis 5y agoI can't take your quotation seriously because, obviously FED "knows about the auditing issue", and there is a conflict of interest. The Fed was created by an Act of the Congress and a collusion. I believe Ron Paul thinks that the FED is engaging in actions that the congress has not given permission to do. Is that argument about FED creating money (purchasing assets) and not having permission by congress to do so? Is it stated somewhere that there are rights to "mint coin" and it is interpreted by the issuer in a way that "allows to add zeroes in a computer"? ...if you understand what I mean.