Episode 305: How Did We Get Here?
Words & Numbers
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The Fed Is a Lender of Last Resort
The Federal Reserve has become, how many of you heard this term, lender of last resort? It's the place the federal government goes when it can't find money elsewhere. From 2010 up until the age of COVID, the money supply was growing at about 6% a year. And now we get 16%. This massive increase in the money supply instead of 6% per year is what you see here.
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