noauthority.social is one of the many independent Mastodon servers you can use to participate in the fediverse.
Long live NAS!

Administered by:

Server stats:

1.3K
active users

Who has the most control of #inflation in the #UnitedStates ?

Please boost for accuracy.

@RememberUsAlways kind of disappointed so many got this wrong, 10% is high

@ZeroSum06 @RememberUsAlways It’s complicated. Congress does have a role. Their deficit spending drives money creation. Money creation enables deficit spending. Congress created the Federal Reserve and the President appoints the chairman, who is politically motivated and who is accountable to Congress. They claim they’re private and independent but they clearly aren’t. It’s a mess.

@rfichoke @RememberUsAlways the fed was created by JP Morgan and cohorts on Jekyll Island as the 3rd attempt to have a central banking entity rule over the US, they are an independent entity accountable to no gov't or gov't official...

youtu.be/hrVAPd-rpjo?si=KWwfmN

@RememberUsAlways @ZeroSum06 JP Morgan was the driving force in favor of it, but it was created by an act of Congress: govinfo.gov/content/pkg/COMPS-

And their claim to be independent is a classic political lie. They’re influenced heavily by politics. It was a rare act of courage by both Carter and Reagan, for example, to permit Volcker to raise interest rates to something approximating market rates that cleared the malinvestment of the 1960s and 1970s. Usually it goes the other way around.

[ZeroSum06] 🔸

@rfichoke @RememberUsAlways like bills today, as "act of congress" penned by special interest

@ZeroSum06 @RememberUsAlways Of course. But without the imprimatur and action of the state, it would just be one man’s opinion. I can say everybody in the world has to pay me a million dollars a month but nobody will do it. If Congress says it, I’ll be making calls to Gulfstream and Lamborghini.