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Counterfeiting On A Grand Scale—-The Fed Does It Every Day

Summary:
My point is that there is no difference in the economic consequences to society between the Fed creating money out of thin air and a counterfeiter doing the same thing. The difference is solely legal and one of scale. Private counterfeiters are punished, and rightly so, whereas the Fed is lauded for its actions. https://davidstockmanscontracorner.com/?p=305459&preview_id=305459&preview_nonce=39a772264b&preview=true

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My point is that there is no difference in the economic consequences to society between the Fed creating money out of thin air and a counterfeiter doing the same thing. The difference is solely legal and one of scale. Private counterfeiters are punished, and rightly so, whereas the Fed is lauded for its actions.

https://davidstockmanscontracorner.com/?p=305459&preview_id=305459&preview_nonce=39a772264b&preview=true

David Stockman
David Alan Stockman (born November 10, 1946) is a former businessman and U.S. politician who served as a Republican U.S. Representative from the state of Michigan (1977–1981) and as the Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan.

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