From the Blog of TC Allen HERE
The following discusses two errors related to money that Brandon Smith makes and protective tariffs and wages.
Brandon Smith’s Errors
Brandon Smith’s “Simple fixes to our economic problems that establishment elites won’t allow” contains at least two errors.
1. “Basically, the Fed bankrolls the corruption through fiat money creation while government officials and corporations utilize the money to wreak havoc on our living standards. Ending the Fed would solve the fiat money problem” Eliminating the Fed would not eliminate the fiat money problem. The federal government can just print and issue government notes and their electronic equivalent. It did so during the Lincoln administration with the greenback, which was a fiat currency, that significantly reduced the purchasing power of the dollar. Merely cutting out the middleman, the Fed, does not solve the fiat money problem.
Read it all HERE
P.S. There is a minor typo in the penultimate paragraph of the article. ‘Singling’ is used instead of ‘signalling’.