The Fed and the Great Pillaging
Commentary
There are many ways to measure the amount of dollars that exist today, but let’s choose the M2 measure of the money supply because it seems the most reliable for now. There is now $21.3 trillion extant. That’s $6 trillion more than existed just three years ago.
For perspective, the entire USD money stock just 10 years ago was $6 trillion. That means that in just three years, the Federal Reserve has enabled the creation of 40 percent of the whole of the existing dollar-based money stock. That’s how much the economic landscape has shifted, entirely because of Congress’s dangerous and crazed spending frenzy and the Fed’s willingness to accommodate it….