3 ms·
> just pass the necessary laws to fix the amount of money at the current level Go ahead and pass the law. I'll wait. It'll never happen. But let's say for the
by eric_cc 5y ago
> just pass the necessary laws to fix the amount of money at the current level
Go ahead and pass the law. I'll wait.
It'll never happen. But let's say for the sake of argument it did. Another law could come along to change it again. Why trust laws and corrupt government officials? They are unnecessary soon-to-be antiquated relics of days when no better option existed.
- hd4 5y agoPrecisely. I think it was Warren Buffett who said "show me the incentives and I'll tell you the outcome" or something to that effect. Governments are incentivized to seize as much power as money creation allows them. The only thing that has held them back from constantly brrring the money printer is inflation, as it is obviously bad for winning votes. Interesting to see how the Fed will manage 7.5% inflation by raising rates 0.25% and even then there's a high chance they will U-turn almost immediately. I really wonder what Biden must be thinking about Powell right now.