"The Federal Reserve has created trillions of US dollars from thin air and loaned them to the US government by buying Treasury securities with the new dollars. Because it is very hard to unwind, the expansion of the money supply, and concomitant inflation, is probably permanent."Read on Twitter
Here are other recent tweets from Thomas Massie:
"The cause of todays inflation is debt monetization. And yes it is worldwide to a large degree. This isnt theoretical or even seriously debated by economists, because its a fact. These quotes were taken from the wiki page on debt monetization:en.wikipedia.org/wiki/Debt_mone"Read on Twitter
"When governments intentionally do this, they devalue existing stockpiles of fixed income cash flows of anyone who is holding assets based in that currency."Read on Twitter
"When government deficits are financed through debt monetization the outcome is an increase in the monetary base, shifting the aggregate-demand curve to the right leading to a rise in the price level."Read on Twitter
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