Re:Wall Street scooped up a third of Texas single family hom...
by orangepurple on Wednesday June 14, 2023 @03:06PM
(#36330952)
The federal reserve divorced the dollar from the gold standard in the 1970s.
It can issue as many dollars as it wants at will. There is nothing to stop it except the destruction of the global economy if it becomes too reckless. See Zimbabwe Hyperinflation to see what happens when the central bank becomes unhinged. My friend still has a 100 trillion dollar note on his fridge from that period.
It can issue as many dollars as it wants at will. There is nothing to stop it except the destruction of the global economy if it becomes too reckless. See Zimbabwe Hyperinflation to see what happens when the central bank becomes unhinged. My friend still has a 100 trillion dollar note on his fridge from that period.