The ability for the US to print money out of thin air that the whole world has to pay for by loss of purchasing power is, famously, known as an “exorbitant privilege.”
I find this term amusing because it’s both spot-on accurate and a pleasant-sounding euphemism.
Not one normal person understands these they will fight you when you try to explain this 🤣🤣🤣🤣
I learned this as well. First time I was called a "Tankie". Fun times. We are so early.
Am I wrong? The US doesnt print money, a company, generates loans out of the thin air, that the US gov approves.
You’re right that the Federal Reserve is not purely a public entity. It started as purely private. Now it’s somewhere in the middle. The Fed is one major source of credit creation. US Bank loans are another. Banks in other countries have no such privilege. The US, on the whole, does benefit more than other countries, though of course Cantillionaires within the US benefit most of all
Listen to the What Bitcoin Did episode with #[4] from earlier this week. Explains it all.
