Today is the 99th birthday of the Federal Reserve Act

By Dan8267   follow   Sun, 23 Dec 2012, 12:12am PST   ↑ Like (2)   ↓ Dislike (1)   576 views   4 comments   Watch (1)   Share   Quote  

99 years of screwing the American public.

#investing

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Patrick   befriend (62)   ignore (4)   Sun, 23 Dec 2012, 2:55am PST   Like (1)   Dislike     Share   Quote   Comment 1

Must be fun to be able to print money and loan it to whoever you want at 0% interest.

The Professor   befriend (4)   ignore (3)   Sun, 23 Dec 2012, 10:52am PST   Like   Dislike (1)     Share   Quote   Comment 2

US Money Supply

All fiat currencies end up worthless!

Dan8267   befriend (17)   ignore (12)   Tue, 25 Dec 2012, 5:25am PST   Like   Dislike (1)     Share   Quote   Comment 3

The Professor says

All fiat currencies end up worthless!

Actually, if you can keep inflating a fiat currency indefinitely and it will simply exponentially decay without ever reaching zero value. As such, you can tax everyone indefinitely without ever destroying the currency.

The Professor   befriend (4)   ignore (3)   Tue, 25 Dec 2012, 6:54am PST   Like   Dislike (1)     Share   Quote   Comment 4

Dan8267 says

The Professor says



All fiat currencies end up worthless!


Actually, if you can keep inflating a fiat currency indefinitely and it will simply exponentially decay without ever reaching zero value. As such, you can tax everyone indefinitely without ever destroying the currency.

I stand corrected. At the current creation rate dollars will one day make good fire starter.

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