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The Fed was sold to the public as a stabilizing force, a backstop against deflation, a lender of last resort. What it actually built was a system where the people closest to the money printer win first and the people furthest away lose last. This is the Cantillon effect, and it was always going to produce this outcome. Buy bitcoin.

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Replies (4)

Matthew Kuraja7d ago

Just like the German people applauded for Hitler politician to reign over them, so did Americans at the start of the 20th century demand for a Federal Reserve. We need the class system back where the stupid don't have a say.

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fade27d ago

While I agree with the substance, I think the trickiest part of what you are suggesting is grappling with the fact that the upper class is currently responsible for the dumbing down of the plebs. So it is problematic to say "strip the plebs of the right to influence rule" when their idiocy was not entirely their own doing.

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Chris Krause7d ago

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