The Fed’s traditional role has been as the “lender-of-last-resort”. Since the GFC, it has been moonlighting as the “borrower-of-first-resort”.
This is a great piece. Thanks.
This is great, thank you.
+1 Great work. Thank you!
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless" -Thomas Jefferson
I think the federal government should be limited and more power returned to the States. I think the government has become too large and it seems to keep growing. I would wager that the government could take 75% of your earning and they would spend all that and still want more, there is never enough. We already have State taxes and now the FED taxes are already out of control. If you are a working person, go look at your take home pay.
We are now 31 Trillion in debt and that is not counting the almost 9 Trillion on the FEDs balance sheet, which I doubt will ever be paid down and will probably only grow as they transfer the purchasing power of peoples savings to the government and well connected.
I would be all for any State that would like to Secede. Let's distribute the power of government. Plus people would have more choices. If you were a libertiatian you could live in the ultra conservative State. If you were super liberal you could live in the Marxist Orwellian State just to name 2 of them but you could have 48 more and have all different flavors. People are all different and there is nothing wrong with having more choices.
Just like you would not force unlike people to get married nor should we force people to live by one set of rules.