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Iowa | I think the theory is that a fed that targets 2% inflation benefits those with real assets (land, gold) while the working class who has fewer assets gets farther and farther behind. The more assets you have the more you can tie to dollar fluctuations- so in many cases it feels like a rigged game. People say if you went to a non fiat currency where it had a backing this would be eliminated. It’s interesting to theorize about but I don’t know how practical it is in our modern economy.
I think the reality is IF the fed was ended, government would lose the ability to borrow so much and have to return to as least an attempt at fiscal sanity. With what we saw from the DOGE experiment neither side of the isle or the public is ready to cut down the money tree- so where it stops nobody knows. Sad part is most of the developed world is playing some form of the same game. | |
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New fed chair policies
