The FED changed its mandate from controlling the money supply to controlling inflation to controlling the stock market.
They keep putting money into the stock market, causing more inflation. If they raise interest rates to combat inflation, the interest on the debt will accelerate and become a far greater percentage of our budget.
In 2020, the interest alone was $640 billion. To fight inflation, rates would have to go up about 5% to start.
On our $30 trillion in debt, it would take 1.5 trillion just to service the debt.
They will need money for social security, welfare, food stamps, Medicaid, Medicare, the military, and more. The only way to get it will be to print money. Just print and print causing more inflation in the economic destruction of America merry-go-round.
Washington thought and is still thinking about making a coin that says “one trillion dollars” on it and depositing it with the treasury. Reps. Tlaib and Nadler expressed support for minting a $1 trillion platinum coin to pay off US debt. Nadler has long supported such insanity. Nobel Prize Winner Paul Krugman thinks it “silly but harmless” and encouraged it to retaliate against Republicans trying to keep a lid on the debt ceiling.
The Central Bank prints money out of thin air.
We laughed when Zimbabwe printed trillion-dollar notes. People in the government of the United States are ready and willing to create a trillion-dollar coin.
These are the wretched creatures “governing us.”
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