If the Federal Reserve can create trillions of dollars out of thin air to prop up Wall Street banks, why can’t they do the same to build a renewable energy grid?
You mean people with horrible job prospects in a shitty economy who are stacked with debt can’t afford a home?! Who would have thought!
The Fed has a hot take on housing and student loans. Except this one is based on empirical research.
The Federal Reserve System was created by Congress in 1913 and operates as an “Independent” agency outside the control of Congress, though it is a creature of Congress, Article 1, Section 8, Clause 5 of the United States Constitution states the Congress shall have the power to “Coin Money and Regulate the Value Therof”, therfore the Federal Reserve System should be brought under the Control of the United States Treasury Department with full Congressional oversight and Public scrutiny, the current “Federal Reserve Notes” that make up the small amount of paper currency that is a small part of the Currency in circulation as most money is electronic should be taken out of the circulation and replaced by “United States Notes” which resemble Abraham Lincolns “Greenbacks” that were issued debt free by the Federal Government to pay for the Union War effort in the Civil War.
This is not to be confused with the Ron Paul-Liberterian idea of ending the Fed and going back to the 19th Century Gold Standard or competing currencies.
The rallying cry on the Progressive Left…
Nationalise the Federal Reserve System, bring it under the control of the United States Treasury.
Implement the 1% Financial Transaction Tax on Wall Street (Robin Hood Tax)