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Today is the 99th birthday of the Federal Reserve Act

By Dan8267   2012 Dec 23, 12:12am   692 views   2 comments   watch (1)   quote      

99 years of screwing the American public.

#investing

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1   Patrick   1856/1856 = 100% civil   2012 Dec 23, 2:55am  ↑ like (1)   ↓ dislike   quote    

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

2   Dan8267   2651/2684 = 98% civil   2012 Dec 25, 5:25am  ↑ like   ↓ dislike (1)   quote    

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.

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