AtticusMatlock said:
Helicopter Ben said:
1913 federal reserve and it's not even close.
The Federal Reserve was in check with Bretton Woods pegging the US dollar to gold. The Great Society and Vietnam put the US in debt to the point Nixon had to get off the gold standard and float the currency. The problem was -- and remains -- the government spending.
True. But what allowed the government spending? Without the federal reserve, the government could never have spent so much. They would have to tax us honestly to pay for all of this nonsense. People would be outraged if they knew how much wealth is being taken from them, so they needed the stealth tax known as inflation. Unfortunately, it was a highly effective strategy.