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What if the fed doesn't get inflation under control
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Reality speaks
Posted 4/19/2022 23:33 (#9622065 - in reply to #9621599)
Subject: RE: What if the fed doesn't get inflation under control


n. Illinois
The original poster asked what if the fed doesn't get inflation under control.

You have way too much faith in the people making the decisions at the Fed. They are still in denial about their role in creating this inflation. They did not have to create the 5 trillion dollars that they have created since the Government made the wrong decision to lock down and destroy the economy because of the Faucci Virus (AKA Covid-19) They could have let the market absorb the new borrowings. The people in charge of the money supply are some of the smartest yet dumbest that we have. They have failed us many times and they will continue to do so. The Ag credit crisis in the 1980's was 100% due to Paul Folker. How many of you know that Paul Folker is the person who convinced Nixon to take us off of the gold standard in the 1970's that unleashed the inflation genie. Let me make it easier to understand. Paul Folker is the dude who set your barn on fire by taking us off of the gold standard. Paul Folker then rides to the rescue and puts out the fire he started and is hailed as a hero. But he is the one who started the fire to begin with. Again we did not need to go through all of this agony. There is no good reason to have abandons the gold standard it was for short term political gain done by people who are too smart for our own good. Modern Monetary Theory (MMT) is the same kind of gibberish. Really smart people think we can created any amount of money we want too because we are the reserve currency of the world. They are fatally wrong. There is nothing the says the dollar needs to be the reserve currency of the world. The sterling pound was the reserve currency for hundreds of years but its not anymore.

So until the Fed acknowledge that they have the source of this inflation then they can not correct it. They will make all kinds of pronouncements that claims that they are going to do something but they will do nothing that is effective. We will see price controls before Biden leaves office. There will be another massive disruption that will cause them to go to negative interest rates as they continue to print trillions of dollars. No one knows how this ends but it will not end well hopefully the end is many years off into the future. Unlike Climate change its just a couple years before all of life is snuffed out if you listen to the Green fools. (LOL)
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