Well... other countries have the same problems with their politicians & central banks...
Federal Reserve ... Always Was Corrupt
- Thread starter Q.E.D.
- Start date
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EXACTLY\ 50 states, full of state banks issue thier own bank notes\LOL.
On a more serious tone\ thats one thing that caused the gret depression of 1929 + 30's. And lack of FDIC insurance + too much borroWing on stock margin.
I think Mr Mayor Rothchild, said ''give me a central bank + a kindergarten + i will rule the world.'' NEVER give the kindergarten to the Fed or feds/LOL
Back to my Roth account.
I read a lot of material that's critical of the Fed, and with good reason. However... I've never seen an explanation of why the Fed, for all it's faults, thrived after it's creation.
In a nutshell, I suspect it has to do with Gersham's law (bad money drives out good). If I want to enter a trade, e.g. buy a car, and I'm looking for something to give to my counter party... I'm going to give them the most useless piece of crap I posses, that they'll also accept. Right?
Bingo... enter an ever-inflating, fiat currency, that's printed on paper and businesses are forced to accept at the end of a gun (in order to pay their taxes). Hell, in an apocalypse, you couldn't even wipe your ass with USD because you'd get too many paper cuts. There's tangible evidence of this too; when COVID hit the first commodity to fly off the shelves was TP 4 bunghole.
I'm almost surprised Charmin didn't become the new legal tender.
But again, Gersham's law precludes anything worthwhile from becoming money when there's something even worse that can be used instead. Meanwhile, I'm sitting on a ton of cash like an idiot because it's finally yielding something.
Anyway... until I hear a better explanation, I'm going to stick with this. The dire problem, as we seem to periodically experience, is when there's so much of this worthless currency that no one's willing to accept it anymore; hyper-inflation.
I don't think we're there yet, but ultimate demise is always difficult to predict.
"Government is the only institution that can take a valuable commodity like paper, and make it worthless by applying ink."
--- Ludwig von Mises
With all due respect, but you Americans never think outside of your continent box. Do you know what the USD actually DOES - it helps you not only to wipe your ass with it, but to feed your children, go care for your elderly, to invest for your own future, etc................... Because it is actually backed by the full faith and power of your military! USD is not backed by gold, by oil or by anything else, it is backed by your aircraft carriers and by the "we're all living in America" cultural propaganda. Look at the world, almost everywhere else it's shittier than in the USA and their currencies and central banks are shittier, so if you expect apocalypse to come to you, it would first come elsewhere, you are going to be the last to experience it.
...Nor inside either, to a large extent.
Hi...what's your name...
You'd make a good 'diversity' hire... - pick a position and you're in, welcome aboard. - https://www.xtxmarkets.com/career/quantitative-researcher/
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Read a book on the economic history of the US before posting non-historical facts and opinions that you learned from a liberal economics professor.%%
EXACTLY\ 50 states, full of state banks issue thier own bank notes\LOL.
On a more serious tone\ thats one thing that caused the gret depression of 1929 + 30's. And lack of FDIC insurance + too much borroWing on stock margin.
I think Mr Mayor Rothchild, said ''give me a central bank + a kindergarten + i will rule the world.'' NEVER give the kindergarten to the Fed or feds/LOL
Back to my Roth account.
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Who cares if murray t turtle's facts are "non-historical facts" ? Shouldn't facts alone be good enough for you?
Your reply serves me right for posting mixed metaphors, oxymorons etc. etc.Who cares if murray t turtle's facts are "non-historical facts" ? Shouldn't facts alone be good enough for you?