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Politics : Formerly About Advanced Micro Devices
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To: RetiredNow who wrote (1162411)9/9/2019 1:48:07 PM
From: Tenchusatsu  Read Replies (1) of 1573817
 
Mindmeld,
FIDC prevents runs on the banks.
You meant to say FDIC. That only protects individual account holders, and only to a limit. That doesn't stop large institutions from pulling money from banks.
The Fed has overseen the 99% destruction of the value of the dollar since the Fed's inception.
That's hardly a meaningful statement, given that the Fed has been around for over 100 years. That includes two world wars as well as periods of high inflation where the Fed really didn't do its job.
Low inflation? What low inflation? The inflation statistics are manipulated and no longer hold any relationship ti reality.
Nevertheless, there are real economic factors that are keeping inflation lower than it should be given massive deficit spending. Doesn't matter if inflation is manipulated or not, unless you think the manipulation increased in proportion to deficit spending.

Look, I hear you regarding deficit spending and how we're gonna hit a wall sooner than anyone thinks, even the Fed. The fact that we continue to increase government spending like frickin' drunken sailors is alarming. Add in the fact that one political party is vowing to increase it at an even faster rate.

But to call for the abolition of the Fed is frankly way too disruptive, unless you think we should move our currency to a gold or crypto standard. But that is another topic.

Tenchusatsu
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