By Ron Paul
The U.S. government warfare/welfare bubble survives on the monetization of debt. In other words, if the U.S. government wants to go further into debt to finance its growth, it issues bonds and always has a ready buyer in the Federal Reserve. After all, the Fed has the immoral ability to create money out-of-thin-air in order to buy up as many bonds as the government wants to issue. The Fed is the enabler of big government. I discuss on Fox Business below:
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