Chris TrottierInflation rate is now 8.7%.
The Fed needs to raise interest rates substantially. Seriously, what's the excuse for keeping them between 0.75%-1%?
Samarskite@atomicpoet
End the Fed
End the Fed
@Samarskite And then what?
@atomicpoet
Create our own currency, and dump theirs. Iceland did this.
Create our own currency, and dump theirs. Iceland did this.
@Samarskite Then what will be the reserve currency?
@atomicpoet
Could be wampum. Or hemp plants. Or gold or silver, just about anything is more stable than the Fed Res currency. We’d be fools to make it digital.
Could be wampum. Or hemp plants. Or gold or silver, just about anything is more stable than the Fed Res currency. We’d be fools to make it digital.
midway@atomicpoet @Samarskite That is objectively false. The US dollar is quite stable. Metals can work but they are highly inefficient. Plants or anything that anyone can grow themselves is not a serious option for what I hope ate obvious reasons.
@midway @atomicpoet
It is actually not worth anything, it is an illusion. Russia knows this that’s why Putin won’t take petro dollars only Rubles.
It is actually not worth anything, it is an illusion. Russia knows this that’s why Putin won’t take petro dollars only Rubles.
@Samarskite @atomicpoet
No, Putin would take dollars for oil but those dollars have been frozen by us. He’s resorting to Rubles and certain banks because we can’t freeze those assets.
No, Putin would take dollars for oil but those dollars have been frozen by us. He’s resorting to Rubles and certain banks because we can’t freeze those assets.
@atomicpoet @Samarskite The physical money is printed by the treasury department. But most money isn’t physical these days.