Re:FDIC Takes over Silicon Valley Bank
by freejazz on Friday March 10, 2023 @04:28PM
(#35101331)
What's the fed's obligation to that bank that you are making this point?
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| on HN ]
Dollars to donuts they’re a “sound money” kook who wants the Federal Reserve not to be able to manipulate the money supply to achieve societal objectives like “low unemployment” and “inflation that closely tracks growth in economic activity and population” and “preventing a deflationary spiral because economic activity shut down due to a global pandemic” because all of that is interference with the Holy Free Market.
Because after all the purpose of society is to serve the market, not the other way around, right?