This is pure nonsense. Wealth isn't measured by money supply, it's measured by net assets.
FRB doesn't add net assets to economy, because with an asset it also creates a liability.
The only monetary thing that can add net assets to economy is government deficit spending.
Not to say that you confuse money supply inflation with price inflation (the latter is one that makes people poorer, not the former).
I think I'm not the one confused here.FRB doesn't add net assets to economy, because with an asset it also creates a liability.
The only monetary thing that can add net assets to economy is government deficit spending.
Not to say that you confuse money supply inflation with price inflation (the latter is one that makes people poorer, not the former).
Please read: http://www.businessinsider.com/why-debt-fuels-bubbles-2014-5?IR=T
If you want to prove me wrong, please give counterarguments, not some random links.
Wrong.
Fractional reserve lending is fraud.
How is it fraud? Care to elaborate?Fractional reserve lending is fraud.
You are inflating the original supply of store of value in everyone's system essentially stealing value out of everyone's pocket over time to benefit those that are able to lend early and lend at fractional reserves.
Thats fraud
