Submitted by: Donald Hank
Since the Fed is an unelected totally unaccountable entity acting like a shape shifter--government now, private now--you and your government have no control over it.
It is now in the process of sucking the life blood out of our economy by implementing "quantitative easing," or issuing unbacked currency that adds zero value to the economy. Mario Draghi, his European counterpart, is doing likewise, perhaps naively believing that the world's 2 greatest economies are too big to fail.
Want to see how that worked out in history?
For more recent examples, look at the economic history of Zimbabwe and Argentina. Japan has also been busy printing money:http://www.nationmultimedia.com/opinion/Printing-more-money-to-save-a-failed-system-30190786.html
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