C'mon Spengler, you're better than this level of egregious conflation. The Fed is a nasty piece of work that makes the country borrow it's own money from private banker families and pay it back at insane interest rates to burden a third of a billion people with endless debt. To link the destruction of that to some sort of blind nationalism vulnerable to global growth is not only absurd, but the reverse of what would happen economically as the dollar grew strong again and the world beat a path to our door - which is exactly what was the real case in 1957.
“The Fed is a nasty piece of work that makes the country borrow it’s own money from private banker families and pay it back at insane interest rates to burden a third of a billion people with endless debt.”
Good grief, where does this nonsense come from? The country borrows it’s money from anyone who buys Treasury bonds. And there is no conceivable way to pay interest on money.