The Fed is a violation of the Constitution. It's basically a cartel of banks set up to push fractional reserve banking (removing any tie to gold) and robs Americans of our future via inflation and QE which enriches the wealthy (Cantillon Effect). We need to abolish the Fed and return to sound money practices. Yes, Virginia there is such a thing - our country did just fine up until 1913 when the Fed was created secretly and illegally.
A large part of the banking system is technically insolvent, moving the losses to the Fed while funneling life-saving interest payments to the individual banks at least masks the problem so that we don't have to make the hard choices now...problem solved.
this will eventually become important but if i were a politician , i woukd be asking why the Fed is paying interest on reserves to banks who are offerring depositors tiny rates...and going bust - treat all customers equally !
The Fed is a violation of the Constitution. It's basically a cartel of banks set up to push fractional reserve banking (removing any tie to gold) and robs Americans of our future via inflation and QE which enriches the wealthy (Cantillon Effect). We need to abolish the Fed and return to sound money practices. Yes, Virginia there is such a thing - our country did just fine up until 1913 when the Fed was created secretly and illegally.
It's become far too political of an institution. Need people that understand how to manage tradeoffs. Instead of always taking the easy way out.
A large part of the banking system is technically insolvent, moving the losses to the Fed while funneling life-saving interest payments to the individual banks at least masks the problem so that we don't have to make the hard choices now...problem solved.
this will eventually become important but if i were a politician , i woukd be asking why the Fed is paying interest on reserves to banks who are offerring depositors tiny rates...and going bust - treat all customers equally !
We also forget that the USG is technically insolvent
Helpful and informative 👽