Life is Hard When You Are Stupid
The Mugambo Guru strikes again!
I notice with dark dismay that the horrid Federal Reserve is now back on track to destroy the dollar as soon as it can, as evidenced by the fact that Total Fed Credit shot up by $6.4 billion last week. [!!!] With the current insanely-low fractional-reserve ratio of the banks set by the Fed (literally zero for new deposits), this means that the banks can create (let me re-check the calculations again) 64 zillion kajillion dollars out of THIN AIR, all of which devalues all the rest of the dollars already in existence. . . .Read the whole hilarious rant, here.* * *
Mogambo sez: As I found out the hard way, life is hard when you are stupid and it is even harder when you act stupid. And if you want a definition of "acting stupid", then how about betting all your money and all your retirement that now, after it has failed every time in history, a government with the power to create unlimited money and credit (this time courtesy of a criminally compliant Supreme Court and Federal Reserve) will NOT destroy the currency and the economy by over-issuing money? Want to take that bet?