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This comment has a very biased tone and lacks an understanding of basic economics
by koheripbal 3y ago
This comment has a very biased tone and lacks an understanding of basic economics
- Akronymus 3y agoCould you elaborate on how it is wrong?
- tomrod 3y agoFirst, a typo "jn" for in. Second, the Federal Reserve is not a cabal, let alone a shadowy one. Third, it's existence is to ameliorate recessions. Your great-great grandparents, if in the US at the time, were very much in favor of it. Fourth, the US doesn't allow for sovereign banks, so a private Federal Reserve is already the classical liberal/libertarian solution (anarcho-capitalists are typically the ones calling for abolishing the Federal Reserve/returning to commodity as a standard). Fifth, a lender of last resort is a fantastic backstop allowing more investment and risk taking, which has pushed the US' investment dominance for over a century.