CongareeCatfish Top fanSeptember 19, 2024 at 9:10 am
The creation of the Fed was simply a way to for the federal government side step the process of going directly out to the traditional bond market and sell bonds to private investors to raise money for their desired spending, which acted as a secondary spending control, i.e. even if Congress authorized excessive spending, if the people, via the open market, decided that the federal debt was too high and thus declined to buy their bonds, Congress could not spend the money. The Fed on the other hand, has no discretion to decline to buy the US federal government’s debt.
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“message gods”
You know, forget Trump, *this* is weird.
The Fed? Should not exist.
The creation of the Fed was simply a way to for the federal government side step the process of going directly out to the traditional bond market and sell bonds to private investors to raise money for their desired spending, which acted as a secondary spending control, i.e. even if Congress authorized excessive spending, if the people, via the open market, decided that the federal debt was too high and thus declined to buy their bonds, Congress could not spend the money. The Fed on the other hand, has no discretion to decline to buy the US federal government’s debt.
During the Trump years all Will did was bitch that the Fed should be cutting rates, even when they were close to zero. How the worm has turned.
HAHAHAHAHAHAHAHAHAHAHAHAHAHA
Will Folks, never not a hypocrite. Always a useful idiot. Maintain, my dude!