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Do you consider losing %98 of its value "stable"? The US Dollar has lost at least that, probably closer to %99.9999, though it's harder to measure now that the
by MCRed 12y ago
Do you consider losing %98 of its value "stable"? The US Dollar has lost at least that, probably closer to %99.9999, though it's harder to measure now that the fed is not giving us reliable stats anymore.
Do you realize the FED is a private bank, owned by the upper %1 of the %1? And that giving them an interest rate on ever dollar in circulation was probably the worst example of a government granted monopoly ever?
Do you realize that the incentives are completely aligned against us? The government wants to deficit spend with impunity, the fed wants to collect rent on the entire economy, so the fed prints money, and makes it look like it's not been irresponsible in doing so? (For instance, via the FOMC, by manipulating the gold price)
It's really amazing to me that Liberals seem to never have met a corporation they like, yet they are universally in favor of the Federal Reserve.
Maybe you don't realize it's a private corporation? Yeah, yeah the governing board is appointed, blah blah, that's like saying one fox appointed another to make sure the henhouse was safe.
And now, thanks to Obama, the Fed has the power to FORCIBLY MERGE smaller banks. No way that could be abused, right?
Read The Creature from Jekyll Island. Learn the fed's history. It's not exactly secret this stuff. But most people never get told. And of course the fed isn't going to advertise it.
- mkautzm 12y ago> Do you consider losing %98 of its value "stable"? Yeah, I don't understand how inflation works either.
- researcher88 12y agoWell you can't really be a Keynesian and think inflation is bad. Who does it favor? Governmentts and the rich who get the new money first. For regular people, it encourages them to spend money now and not save. And the only way around it is to invest in the stock market etc where they may make mistakes. As for your implied notion that it's been stable inflation, I'm not so sure. In the last 40 years, the average price of key foods have increased 400 to 500% when agricultural science and distribution has improved dramatically.
- 13years 12y agoThank you! Good to see at least some people are awake. Although a bit disappointing more didn't point this out.
- twrkit 12y agoThe Creature from Jekyll Island is one of the best books I've ever read, highly recommend it.