I'm being fa·ce·tious.
I've always been interested in how the Fed works but this article is too difficult to follow. Call me stupid..call me anything but, late for dinner.
I wish there were a simpler was to educate the simple minded among us (ME) without being so overly verbose as to the inner workings of the *evil* establishment called the Federal Reserve.
I'd seriously enjoy any links you economists suggest.
You might want to consider the possibility that the reason it's difficult to follow is that the article didn't make any sense. What it said was:
| ignorance of coin, credit, and circulation is unfortunately, a widespread occurrence – causing perplexities, confusion, and distress, all tearing at the social fabric of our nation. | This is a lie. If this occurrence was so damn widespread then he'd be able to give an example of where our social fabric is torn. It ain't. Americans use money every day and are doing just fine (thank you) without any of FSU's help. | |
| The most dishonest monetary illusion is the shadow cast by fractional reserve lending. | What's dishonest? The only dishonesty here is Gnazzo's. He knows full well that the US dollar has the best value. In fact, I'll bet that he himself prefers being paid in dollars. | |
| Conclusion Fractional reserve lending invokes the moral hazard of fidelity of contract. | No solution. All is lost-- doom'n'gloom. Gnazzo is a jerk. |
The fed is not that hard to understand-- so long as you don't let yourself get turned around by the tin-foil brigade.