So by printing Federal Reserve notes to purchase bond...Oooo, a new American Idol is on soon. Will Paula return as a judge? < /massive cynicism about the American populous>
In 96 years the only thing the Fed has done is wipe out over 95% of the value of the dollar. Just a little more than 4 to go. Can they hit it by their 100th birthday?
Sadly, you are absolutely correct, now that I think about it.
LOL - Great commentary on the attention span of too many in America today. The Pols depend upon it and they are never disappointed.
The American public is at fault for allowing itself to be victimized by the elite. Every country with a Fed/IRS (Bank of England-style) system ends up in the same predicament as us. In 1764, the Bank of England tried to impose its system on the Thirteen Colonies by having Parliament outlaw Colonial Script. The result was depression and the American Revolution.
http://en.wikipedia.org/wiki/Colonial_scrip
Banksters never fully succeeded in imposing a Bank of England-style system on the US until 1913. Previously, the low-tax, low-debt American economy overtook the high-tax, high-debt British economy in the 1880's. Under the Fed/IRS system, the US has become high-tax and debt-shackled like Britain and the rest of Europe.
History shows that Fed/IRS and Bank of England-style systems are inherently prone to increasing, never repaid debt and spiraling taxes for interest. The only solution is a return to the highly successful Colonial Script system.