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[–]Marou 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Yeah, I bitched about it when it happened. It's basically carte blanche authority surrendered to private banks to multiply money at rates that previously would have been considered insane. I believe this year will go down in history as the start of the finale for the USD's status as the world reserve currency.

[–]Questionable 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

But you have to ask yourself, which is more stable? Fiat based and created through debt, or Fiat based and created by nothing? Wouldn't that system me more favorable to a government controlled currency and not a private bank such as the Federal Reserve? Of course this only makes sense if an actual take over of the Federal Reserve took place as many suspect is happening.

As for derivatives, they should have never been allowed, they debase institutions and devalue monetary systems.