[Jim Noble]

The Fed is not always wrong.

But its central premise, its operating system if you will, IS wrong and will bring us down - eventually.

That central premise is that debt can function as money - true, in part - AND THAT DEBT CAN BE EXPONENTIALLY EXPANDED, AND SERVE AS AN ASSET TO ITS ISSUERS.

We see now the storm on the horizon. Still tiny, but inevitable.

[expat_panama]

its central premise, its operating system if you will, IS wrong and will bring us down - eventually.  That central premise is that debt can function as money -

Actually, the Fed's central premise is the constitutional (Art. I, Sect. 8)  requirement to fulfill congress' obligation to "...coin Money, regulate the Value thereof... " and the thing about money being created by banks loaning money is something banks have been doing for hundreds if not thousands of years.  It's what money is.