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Started By
Message
re: Steve Forbes Offers His Explanation Why America Is Rocketing Toward A Financial Cliff
Posted on 5/10/21 at 9:36 pm to Ross
Posted on 5/10/21 at 9:36 pm to Ross
quote:
drastically overestimates the central bank’s ability to slow inflation down once it runs too hot.
And the Fed won't be able to slow it down because congress will demand that they buy their debt with too few buyers.
2
Posted on 5/10/21 at 9:43 pm to GumboPot
That’s the thing...at some point the Fed will have to raise interest rates...but they can’t. And then...
The damage will be done at that point.
The damage will be done at that point.
Posted on 5/10/21 at 10:20 pm to GumboPot
quote:
And the Fed won't be able to slow it down because congress will demand that they buy their debt with too few buyers.
I think the idea is that they don't need buyers of treasury bonds. The Federal Reserve will buy the treasury bonds and as long as a government has a monopoly on its currency and doesn't borrow money from another nation, it can print as much money as it wants with impunity and if inflation runs hot money can be removed from the economy via taxation.
The stopping of inflation with taxation seems laughable to me, as does keeping a monopoly on currency in a global marketplace.
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