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Keyword: thescandalofmoney

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  • The Fed 'is a god that has failed' [George Gilder]

    04/12/2016 7:27:17 AM PDT · by No One Special · 14 replies
    CNBC ^ | April 5, 2016 | George Gilder
    Why does Wall Street keep recovering after recessions but the economy seemingly never does? The reason, as I document in my book, "The Scandal of Money: Why Wall Street Recovers but the Economy Never Does" is that Washington and the Federal Reserve together have created a closed loop economy where the Fed creates money for the government and the S&P 500 and Main Street is left out. The Fed decides what money is worth and who receives it and how much. The Fed prices it at zero interest rates, allegedly to stimulate economic growth. But whenever something is free, it's...