The Fed is basically becoming global Gosbank. Who knew that Soviet monetary policy but without the central planning is actually the eternal and unbreakable perfect economic system?
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The closed loop of Fed-Treasury-TBTF banks provides protection against crises that arise from market-incentivized behavior under normal "free market conditions", but also you avoid the inefficiency that comes from price controls and central production planning
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The Berenstain/Berenstein effect but you open up Webster's Dictionary and under "Safety" is just reads "U$D"
