“We, The People” Are The New, Permanent Underclass In America
This is financial tyranny.
The U.S. government—and that includes the current administration—is spending money it doesn’t have on programs it can’t afford, and “we the taxpayers” are the ones who must foot the bill for the government’s fiscal insanity.
We’ve been sold a bill of goods by politicians promising to pay down the national debt, jumpstart the economy, rebuild our infrastructure, secure our borders, ensure our security, and make us all healthy, wealthy and happy.
None of that has come to pass, and yet we’re still being loaded down with debt not of our own making.
https://www.zerohedge.com/geopolitical/whitehead-we-people-are-new-permanent-underclass-america
My understanding is that when the Fed was created, it could only buy short term corporate paper at a discount, to get past short term liquidity crunches.
Then Congress gave the Fed the ability to buy govt debt. That was ahead of WWII, so not long after the 1913 legislation. Probably around the time “Keynesian economics” was conceived even if that was before Keynes came along in 1936 with his “Theory”.
I’ve tried on several occasions to find the law that amends the Fed charter in this way, to no avail.
Tie up the Fed back to its original charter, and then a real (private) bond market decides the price of govt debt. You still face the Triffin paradox however. That’s been the excuse since 1960.
Meant WWI, not WWII.
What is the Triffin Paradox pedro ?
https://en.wikipedia.org/wiki/Triffin_dilemma