
Ep. 2150 The Unknown Villainy of the Fed
The Tom Woods Show
00:00
Creating Money Out of Thin Air
When economy is flooded with legal tender, fractional reserve notes, the whole economic body of society begins to cater excessively to the needs of those whcontrol the banking industry. Creating money out of thin air allows the money creator to enter the market and just take the things he wants without having first supplied anything himself. While other people are being enriched, the average person has to struggle to save. So with your money losing value every year, you'd be ruined if you saved for the future by just piling up paper dollars under a precious metal money. But there are even more arguments against paper money that can't be redeemed into pre metals. And then there's the moral argument that no system of fiat
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