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Today is the 99th birthday of the Federal Reserve Act


By Dan8267   Follow   Sun, 23 Dec 2012, 12:12am PST   408 views   4 comments
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99 years of screwing the American public.

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Patrick   Sun, 23 Dec 2012, 2:55am PST   Share   Quote   Permalink   Like (1)   Dislike     Comment 1

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

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

US Money Supply

All fiat currencies end up worthless!

Dan8267   Tue, 25 Dec 2012, 5:25am PST   Share   Quote   Permalink   Like   Dislike (1)     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   Tue, 25 Dec 2012, 6:54am PST   Share   Quote   Permalink   Like   Dislike (1)     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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