The Fed Unbound: Central Banking in a Time of Crisis - Lev Menand
Shared by:cryotag
It is a bedrock principle of the US Constitution that Congress, as representatives of the people, sets economic policy and directs government resources. This all changed thirteen years ago, and even more dramatically during the pandemic. The Federal Reserve operates independently from the rest of the government, and can create as much money as it sees fit and use it without the prior approval of Congress, the courts, or the President. When the Fed creates new money to address economic problems, it helps certain groups, like powerful business interests, and becomes a massive driver of inequality. In The Fed Unbound, Lev Menand tells the story of how the Fed became out of control during the 2008 financial crisis and the 2020 pandemic, and what can be done about it.
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| Creation Date: | Sun, 18 Dec 2022 17:53:26 +0100 |
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This post has 2 comments with rating of 5/5
December 18th, 2022
Creating money out of thin air is inflationary faux money (no value, not backed by Gold or Silver or anything else just like digital currencies). The US and Canada are totally out of control and everyone else is paying the price.
July 14th, 2025
“The US and Canada are totally out of control…”
Its called the federal reserve,
it was foisted on us by england.
Its the same false currency that is occupying all of europe,
after WW2.
Any European country that is living some socialist utopia,
is only living off high tax,
paid for with NATO war crimes.
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