"Our great nation’s brilliant Founding Fathers clearly
appreciated the perils of unsound money. They understood the dangers of
excessive power and the necessity for checks and balances. They would have
never anticipated an American central bank printing money without restraint.
There was a major flaw in the structure of the Federal Reserve System – and for
central bank structures generally. I just don’t think anyone ever anticipated
that central bankers might someday resort to creating Trillions of “money” as
they do today – on a whim or academic theory. The Federal Reserve needs some
basic concrete rules. It’s insanity to allow a small group of unelected
officials the discretion to pump $85bn – or more! - of purchasing power into
the markets every month. It’s undemocratic, highly risky and this has gone
on for much too long. If there was one issue worth closing down the government
and risking default, this would be it."
Who would have thought that by just RAISING the debt limit
without ANY progress in correcting the issuing of the debt nor the imbalances
could exude hope and confidence?
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I have been writing about stocks and the market since the late 90's. My record of calling the last 2 , now maybe 3 bear markets stands. There is more to investing than just avoiding bear markets, but it sure doesn't hurt. I offer NO recommendation to buy or sell equities or trade any vehicle...I just offer my opinion for what it's worth. Consult with your financial advisor before taking any actions. this financial blog is for amusement only.