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re: If the government can simply “print money” why does it need to borrow?
Posted on 8/31/26 at 10:02 am to Dozen_Charred1026
Posted on 8/31/26 at 10:02 am to Dozen_Charred1026
quote:
Federal Reserve Act and the establishment of a permanent Income Tax both in 1913.
The 17th was also in 1913, ostensibly a democratic move away from the founders' Republicanism but we know the result. By stripping the state legislatures of their ability to recall Senators for acting against state interests it paved the way towards the Pelosi's and McConnell's of the world, reelection is guaranteed as long as you get in line on foreign and monetary policy.
The 16th and 17th work in tandem. Both were necessary for the empire building that followed Bretton Woods. Without the 17th we could have never exported our manufacturing base ("free trade") to support the dollar empire.
Posted on 8/31/26 at 12:06 pm to Art Blakey
We’ve been in a constant state of war since this episode.
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