Even satellite states like Saudi Arabia are forced to distance themselves from the plummeting greenback. (Thanks to Ken Langston) The monetarists and other utopians have claimed that the Fed could just inflate by a small, steady figure like 3% (though that causes business cycles too). But running the printing press benefits the government and its pals the banksters, the merchants of death, and the big boys on Wall Street. And since 1971, there has been no institutional constraint on the Fed. We had to trust these economic courtiers. Of course, as Mises, Hazlitt, Rothbard, Sennholz, and so many others have … Continue reading The Fed Has Destroyed the American Empire