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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: D. Long who wrote (524086)	11/22/2012 4:46:23 PM
From: skinowski	2 Recommendations Read Replies (1) \| Respond to of 793983

It was a lot better when the US government went hat in hand to JP Morgan for its borrowing. Congress conveniently created a source of funding in the Federal Reserve that is a bottomless well. JP would lend them real money, representing his own and other people's savings. The Fed, instead, offers billions of electronic symbols which it creates at will. The Fed does not create wealth - it simply dilutes the existing dollars. All this is really disturbing. Politicians and economists who do not see this as a problem are either fools, or dishonest people.