Sunday, January 24, 2021

Tag: It Matters What The Fed Can And Can’t Print

Finally, It Matters What The Fed Can And Can’t Print

by John Rubino, Dollar Collapse:

Sound money advocates have been proclaiming that “the Fed can’t print gold” pretty much since the end of the last gold standard in 1971. But no one outside our little echo chamber paid attention, fixating instead on what the Fed could print: trillions of dollars that were perfectly fine for buying anything a creditworthy person could want. To paraphrase the old Saturday Night Live skit, “Fiat currency has been berry berry good to me.”

But the reaction of the world’s central banks to this latest crisis – effectively unlimited currency creation to buy up/bail out everything everywhere – seems to have rattled people who in the past have viewed aggressively-easy money as an unequivocally good thing: