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Today is the 99th birthday of the Federal Reserve Act


               
2012 Dec 23, 12:12am   1,093 views  2 comments

by Dan8267   follow (4)  

99 years of screwing the American public.

#investing

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1   Patrick   @   2012 Dec 23, 2:55am  

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

2   Dan8267   @   2012 Dec 25, 5:25am  

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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