Fed controls the rates I think this is what he’s alluding to.
The “System” is going down one way or another..
He’s good as a critic, but what is his solution? Keep 0% interest rates and the attendant hyper inflation?
Fed sets the rate. However, if the rate is unreasonable it will destroy the Fed. The Fed is ‘reacting to’ government overspending, that’s what’s going on. Under Trump, they raised rates for political reasons, IMHO, now they are raising rates to combat inflation. They don’t want runaway inflation because the debt and money they get back, becomes useless. Now, they are raising rates for self protection. Frankly, the rate wouldn’t be an issue if the National
debt wasn’t out of control.
Thomas Jefferson warned us:
“I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow the banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children will wake up homeless on the continent their fathers occupied.
I repeat:
The current theories on money and banking are bogus...nonsense and result in stupid mismanagement.
To understand money, just think of it as a way to make barter easier.
Money is only a replacement for barter. In pure barter, you must take goods to the marketplace equal in value to those you wish to get. Printing fake money and distributing it to do nothing drones has the opposite effect. The drone takes nothing of value to market, leaves paper in the place of what he buys and therefore there are less goods available to the people who arrive after him
Like magic....shortages and inflation. More money than goods.
Modern theories on money and banking are as fake and a bigger scam than global warming, the wu-flu or anything else you can name.