Yes - you CAN print money.
Which will first be fed through bond-buying of the FED and their Wall Street and money-center banks, increasing their profits and bonuses (ie. making the politically-connected rich even richer)
Meanwhile you will increase the costs of all items, particularly every-day commodities for the middle class and poor. Wages will not rise with inflation, thus making the middle-class and poor, poorer.
You will also destroy the savings of workers and the elderly with artificially low interest rates. Again, making the poor even poorer.
You will also promote the welfare of Gov’t, its employees, and those who can successfuly lobby government - those who will be next in line for this money being spent, again to the detriment of everyone else.
This is WHY leaders like Thomas Jefferson and Andrew Jackson insisted on “hard money.” Fiat money can be printed at will by politicians, to benefit the governing and crony-capitalist class.
This is why Conservatives must insist on serious constraints on the Federal Reserve, or eliminating it altogether.
Very cogent synopsis. Thanks.
Wow... so why didn’t the interviewer call this guy what he is - a damned thief.
“Printing money” is simply stealing from the savings of the elderly.