Printing power...inflation & the rich and poor.

[alisonfletch]

"...more interesting is what the appearance of those deposits across all bands of wealth tell us about the Federal Reserve: it can fund whoever the hell it wants to, when it wants to. Meaning this: the Federal Reserve could’ve funded retail bank accounts in the wake of the global financial crisis too.

It just didn’t want to. It bailed out criminal banks, its owners, which then turned around and fraudulently foreclosed on millions of underwater homeowners, whom the Fed could’ve helped out but didn’t because that wasn’t what the Fed wanted. It wanted foreclosures, even if it meant stealing people’s houses, which is exactly what the Fed got.

Are you starting to get at least an inkling that a central bank digital currency might be bad news for you and hundreds of millions or really billions of other people? God, I hope so".

—John Titus https://bestevidence.substack.com/p/fed ... dium=email

Fed Admits Crony Truth About Pandemic QE: “it creates new bank deposits”
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