BlutoSays wrote:Yes, the fed are "experts" and I am not. But they have a strike against them. They are POLITICIZED experts. They make decisions based on what their masters, the politicians, want. If politicians have a grudge against gravity, that'll be in the messaging.
But don't worry about it. Inflation is "merely transitory".
No one could have seen this coming.
Worst of all, Steve, you still believe money grows on trees, so I have more expertise than you do, because you're a believer (actually a sycophantic one), not a thinker.
Keep carrying that water!
First, Bluto, you are still so ignorant that you don't understand that money does grow on trees, to use your symbolic turn of phrase.
. . . That is, the banking laws are such that banks are not like pawnbrokers. Banks just create the money they are loaning to a credit worthy borrower out of thin air. I have posted about this several times. I there posted links to a report about an experimant run in Germany in 2014 involving 200K euros that were loaned to an economics prof. while his grad students watched what every employee of the bank did, and they saw that the loan officer just added numbers in to the borrowers acc., and didn't move the money from some other acc, in the bank's books. I also linked to a report by the Bank of England that confirmed this experiment was valid, and money is created by banks with every loan.
. . . The other way that dollars are created is when the US deficit spends. Before the transactions, a guy has $100K in the bank; after the transactions, that guy has a $100K US bond, and some other guys have $100K split between their bank accounts. So, before there was $100K and after the transactions there are $200K in the American economy.
. . . You are unable to understand this. Is it because you are too _____ to understand? Or is it that you you just refuse to look at the facts to see the truth?
With all due respect (which is none because your ignorant) the staff at the Fed may or may not have to toe the line that the Board of Governors sets for them. But, the board agrees with you so if the staff said that the board told them to say they would agree with you.
. . . You don't seem to know that the members of the various Fed boards have been appointed by past and present Presidents. They have not all been appointed by Biden and Obama. Some were appointed by Trump and Bush. They are *
all* Mainstream economists, though. None of them are MMTers. Not one of the board members is an MMTer.
You are so blinded by your hate for Dems, that you can't see the truth. This makes you ignorant.
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