Re: Bitcoin Shrinking - The Long View

Quote from: Casper Hornstrup on July 17, 2011, 12:57:06 AM

Quote from: Synaptic on July 16, 2011, 11:47:51 PM

And I don't blame the Fed for anything. Though I don't appreciate their monetary policy, I do realize they know much better than I or anyone else on this backwater forum how to run an economy the size of the United States.

LOL. They sure know how to run an economy. US debt is now almost 100% of GDP.

"The number of people in the Supplemental Nutrition Assistance Program, known as food stamps, hit a record 44.2 million in January. "

"More than 8.4 million people are collecting either state or federal jobless benefits."

"Ninety-one percent of respondents to a recent poll said they are somewhat or very concerned about the rising rate of inflation, according to a national CNN/Opinion Research Corp. poll released Tuesday. And 86% said they are worried about jobs."

"Debt has grown $3.5 trillion on Obama's watch"

http://money.cnn.com/2011/04/12/news/economy/government_safety_net/index.htm

http://money.cnn.com/2008/03/18/news/economy/cnn_poll_inflation/index.htm?postversion=2008031813

http://www.cbsnews.com/8301-503544_162-20035569-503544.html

None of what you listed has anything to do with the Fed, and everything to do with Congress, the Senate, and the overbearing multi-nationals. Get a grip.

EDIT: I should clarify I didn't mean to suggest that the Fed run the US economy, I should have said "Manage interest rates and inflation relative to the economic decisions of the US government."

SECOND EDIT: Contrary to the prevailing fool's wisdom, the Fed is entirely beholden to the US Government and if anyone bothered to vote in our elections for candidates with integrity you might see a different result. It matters not about all the BS about the Fed being a private bank and whatever the hell else. If you voted in honest candidates you'd get honest monetary policy. Deal with it and quit bitching about it. Bitcoin certainly isn't going to change a goddamn thing about it.