Australian National Review - The Fed Does Not Create Inflation; the Fiscal Side of the Ledger Does

The Fed does not create inflation; the fiscal side of the ledger does

By Martin Armstrong, US Economist People love to blame the Federal Reserve for everything under the sun because it is easier than admitting the real problem: government. The tragic part of this entire monetary experiment is that the Fed, as originally designed in 1913, was brilliant. Each regional branch operated independently, responding to local capital […] The post The Fed does not create inflation; the fiscal side of the ledger does appeared…

Australian National Review - The Fed does not create inflation; the fiscal side of the ledger does

By Martin Armstrong, US Economist People love to blame the Federal Reserve for everything under the sun because it is easier than admitting the real problem: government. The tragic part of this entire monetary experiment is that the Fed, as originally designed in 1913, was brilliant. Each regional branch operated independently, responding to local capital flows instead of political agendas in Washington. Money moved with the seasons. When crops …