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Today is the 99th birthday of the Federal Reserve Act

By Dan8267 (167/169 = 98% civil)   2012 Dec 23, 12:12am   ↑ like (2)   ↓ dislike (1)   662 views   4 comments   watch (1)   share   quote  

99 years of screwing the American public.

#investing

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1   Patrick (293/293 = 100% civil)   2012 Dec 23, 2:55am  ↑ like (1)   ↓ dislike   quote   top   bottom   home   share  

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

2   The Professor   2012 Dec 23, 10:52am  ↑ like   ↓ dislike (1)   quote   top   bottom   home   share  

US Money Supply

All fiat currencies end up worthless!

3   Dan8267 (167/169 = 98% civil)   2012 Dec 25, 5:25am  ↑ like   ↓ dislike (1)   quote   top   bottom   home   share  

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.

4   The Professor   2012 Dec 25, 6:54am  ↑ like   ↓ dislike (1)   quote   top   bottom   home   share  

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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