The need for money is inexhaustible because it's not a zero sum game, by design. Itnhas been that way since 1913.

we were still on the gold standard in the 30s

Economics is not a zero sum game regardless of any central bank.

Which is good

thinking i would be saying JFK if had gotten a chance to finish. You know the thing...

Because in zero sum games someone must lose for someone to win.

Losing the gold standard was a foregone conclusion when we created an inflationary economy.

@Zuluzeit yes I'd like to know what went down in the backrooms between Wilson and the power brokers.. @Auto such a big question!

I want a new James Polk

shamelessly conquer the world

plz

Lol

also do it in one term and then die right after

The gold standard was a physical, intrinsic reference for value.

Im saying this unironically

just tell Trump they took our Gold @Auto

@Zuluzeit I mean, I am open to criticism of the Fed but inflation has upsides and downsides. For example, inflation encourages people not to sit on their money. It also helps adjust prices because elasticity of prices varies. So instead of everyone getting pay decreases you get less pay increases. So if you are in favor or against it will come down to what you believe the very day citizen prioritizes. Because you and I can still purchase Gold to hedge against inflation. Also, the inflation numbers coming from the Fed are often suspect. Imo

The Fed is a racket.

@Zuluzeit anything can be a racket if it’s monopolized by the government and abused.

They jerk the leash whenever they need.

The Fed isn't monopolized by the government. It's privately owned. Even Trump couldn't do anything...and he tried, publicly.

@Zuluzeit I think you see nefariousness where it’s really incompetence. They have no financial incentive for bias. Their money is in a blind trust, where all public servants should have their money 😂

@Zuluzeit 👌 man 😂

I don't believe they get things wrong by accident. It's all orchestrated.

@Zuluzeit you’re misinterpreting what semi-private means in this context. Imo. It is financiers who take advantage of the incompetence of the Fed. Not an orchestrated attack on your pocket. And politician who help by expanding the mandate of the Fed to include unemployment and market performance.

Isnt the Fed Buying up stocks now or did i woosh something here?

Unemployment shouldn’t even be a government mandate let alone the feds.

They are, because they now have 3 mandates. And market performance is one of those mandates. Which is ridiculous to say the least.

The fed should only be concerned with money supply. It would be difficult to back to a gold standard. Cheap money drives out better money. If we tried it would be replaced by cryptocurrency or some other cheap money.

There is no safe lynch pin to pull.

government involvement has never "FIXed" anything think Regan said it best "Government is not the solution to our problem; government is the problem."

Tbh I'm still stuck on squaring control over value and having no incentive for bias.

It’s called moral hazard and one way to insulate against it is to have wealth stored in blind trusts.

Bias is inescapable

still scrambling to find the "Next Best Thing"

It doesn’t matter because even fans of the Fed have to be cautious now that Kashkari has said moral hazard isn’t an issue

I think this is going to be an interesting year 😂

Ok so they do have financial incentive for bias. That was the part of your argument that had me concerned.

Or explanation

No they have biases because they are people. They have no financial incentive other than a healthy economy.

That is inconceivable to me. Maybe I'm just slow.