The Crisis in 10 Points
by Robert Stewart
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2. The Federal Reserve System (the Fed – created in 1913) has accommodated government’s policy of spending to excess by inflating the money supply and keeping interest rates artificially low. Today’s dollar will buy what in 1913 would cost less than a nickel. This easy-money policy has not only led to inflation but has resulted in investments taking place that would not be justified had the money supply been constrained, and had interest rates more clearly reflected economic reality.
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IMHO, this is the root of so many evils since 1913. Even the “income tax” wasn’t as bad as this. The FED allows the political class to extract value from the poor and middle class without the “bother” of taxes. It’s the hidden silent tax. And, it extracts more “wealth” than even the “death tax”.
I can’t believe that people are so stupid!
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