Comments by "" (@manofsan) on "Zeihan on Geopolitics"
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Fed was created to exercise control over people's money. It gets to control the value of people's money all the time, by lowering or raising rates, mainly to control their spending behavior. This kind of control is doomed to deteriorate into corruption. The Fed kept rates too low for too long, while its political masters wrote lots of blank cheques, spending money on whatever pleased them. This has created massive inflation, and the Fed is now having to suddenly tighten in a very sharp way, while the politicians continue to spend even more money irresponsibly. This has created a crisis in confidence in the value of the US Dollar, and talk of de-centralized finance, so that the Fed-worshipping central control-freaks are now desperately scrounging for a new gimmick, like a new digital dollar that they can force everyone onto, in order to gain new control over their lives (even while ensuring that any alternative digital currencies are banned)
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