Tax cuts don't save jobs - Case #4180 - Harley Davidson

[jem]

yes... they have tools like open market operations.

But, I am talking about the creation of trillions of dollars with the stoke of a keyboard.
As when they created 9 to 13 trillion during the banking crisis to lend it out all over the world without telling congress about this creation until they were sued.


or when they created trillions with the stroke of a keyboard to buy in almost worthless bonds...

Or when they just create the money and don't tell us about it. See that spike in 2008. Where did those trillions come from? Did Congress authorize it? Were they even made aware of it at the time it happened? That is money creation not necessarily currency creation but its money creation with a key board entry.


700 percent inflation when the US and world economy has been growing requires massive money creation.

Would you rather the FED Reserve systems owners/ members get the benefit of those trillions or the tax payers?

The fed does both increase and decrease the money supply.

 

[UsualName]

yes... they have tools like open market operations.

But, I am talking about the creation of trillions of dollars with the stoke of a keyboard.
As when they created 9 to 13 trillion during the banking crisis to lend it out all over the world without telling congress about this creation until they were sued.


or when they created trillions with the stroke of a keyboard to buy in almost worthless bonds...

Or when they just create the money and don't tell us about it. See that spike in 2008. Where did those trillions come from? Did Congress authorize it? Were they even made aware of it at the time it happened? That is money creation not necessarily currency creation but its money creation with a key board entry.


700 percent inflation when the US and world economy has been growing requires massive money creation.

Would you rather the FED Reserve systems owners/ members get the benefit of those trillions or the tax payers?

You’re assuming the dollar will stay the reserve currency if we let inflation run out of control. Governments that hold our currency and bonds would dump them for a more stable asset overnight if we took your approach.

I can honestly say I would rather the fed control the money supply than the congress.

 

[jem]

In theory almost everyone but those truly concerned about the constitution would agree with you...

However, in practice...

Would it be better for the American people if the FED created 1.5 trillion a year and spent it for its owners and members or if the Govt created it, spent it and eliminated personal income tax?

by the way I would prefer we were not the world currency if it meant we could make the govt and the FED more accountable.

You’re assuming the dollar will stay the reserve currency if we let inflation run out of control. Governments that hold our currency and bonds would dump them for a more stable asset overnight if we took your approach.

I can honestly say I would rather the fed control the money supply than the congress.