what are you talking about?
what does the fact that oil is sold in dollars has to do with the fact that the federal reserve prints money and distorts prices just so everything would be 2% more expensive?
money DOES NOT need to be stable, it NEEDS to reflect reality which means letting prices go both up and down according to supply and demand.
you want Janet Yellen to create a fantasy world for you where everything is stable but THATS NOT reality!
anyone who makes business plans based on this stability fantasy will eventually find out the whole economy was built on a house of cards.
You're just dumb as an ox, aren't you?
The fed doesn't distort or regulate the prices of consumer products, the free market creates prices in our everyday life.
The fed regulates that the availability of dollars would be in par with the availability of oil. Because oil is so important in the economy, it can set the overall tune of monetary value.
For the economy to be effective, different parts of it have to be in tune with one another. There has to be similar understanding of value, to give it numerical form and to put it into equations.
The central bank is like a conductor in a choir to keep different instruments in harmony.
Anyway, you are a great example on why I despise the majority of bitcoiners. They are like the Bolsheviks were, eager for revolution but just too dumb to understand the causes and solutions for the current problems, so instead of helping the society, they created a whole set of new problems, that are even worse then before.
The medias inscrutable brush-off of the Government Accounting Offices recently released audit of the Federal Reserve has raised many questions about the Feds goings-on since the financial crisis began in 2008.
The audit of the Feds emergency lending programs was scarcely reported by mainstream media albeit the results are undoubtedly newsworthy. It is the first audit of the Fed in United States history since its beginnings in 1913. The findings verify that over $16 trillion was allocated to corporations and banks internationally, purportedly for financial assistance during and after the 2008 fiscal crisis.
All that vitriol to deceptively misrepresent and deceive in the defense of a dying, corrupt sclerotic system. Do you have anything positive to leave behind for the world old man? Besides the delusions of stability and sweet and light in your centrally-planned utopia?