[BfloGuy]

And the FED doesn’t control government spending. An irresponsible Congress would still borrow on a gold standard and promise that your kids would repay it in gold.

The Fed permits out-of-control government spending by printing the money to buy the bonds. With a stable money supply, the government's borrowing would cost five or six times as much.

The Fed is designed to protect banks from failure and make bankers wealthy. To do that, it supplies the politicians with all the free money they want.

The value of the American dollar has dropped by 95% since the Fed took over its management.

[DannyTN]

See post 28. A 95% drop in value over 100 years is not a concern for anybody who isn’t hoarding cash in their mattress. The purpose of currency is facilitate business transactions, not to be a long term store of value.

[DannyTN]

See post 28. A 95% drop in value over 100 years is not a concern for anybody who isn’t hoarding cash in their mattress. The purpose of currency is facilitate business transactions, not to be a long term store of value.

[expat_panama]

The Fed permits out-of-control government spending by printing the money

No it doesn't.

The Fed creates money because the constitution said congress had to and they're doing it though the Fed.  The Fed's money printing doesn't 'permit' overspending any more than it 'permits' the phases of the moon.  Congress would overspend no matter what the Fed did.