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The corruption and interlocking temptation by treasury, fed, and congress are a function of the system they operate within. Having a federally controlled fiat
by notch656a 5y ago
The corruption and interlocking temptation by treasury, fed, and congress are a function of the system they operate within. Having a federally controlled fiat with an exclusive legally priveleged position introduces extreme temptation to manipulate this supply as a form of indirect taxation on the populace. Imagine giving a small group of people a big pile of cocaine, and asking them to please promise to distribute it with all prudence and honor. I don't even blame them for what happens, it's practically inevitable the way it is set up.
The fed hasn't failed us because they're bad people, they've failed us because the people operating our government, although typically good people, are human and have been given the stash and the systemic temptation they face is overwhelming.
It's hard to imagine an end to asset price inflation is in sight.