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3009629147
·5 lat temu·discuss
I respect Michael Hudson but he is slightly wrong here. They can also buy U.S. stocks like the Swiss Central Bank does. [1]

[1] https://sec.report/Document/0001582202-21-000003/?__cf_chl_j...
3009629147
·5 lat temu·discuss
Who is "we"? Afaik the U.S. military power structure is based on soldiers obeying orders they receive from their superior.
3009629147
·5 lat temu·discuss
It is effective, you just aren't aware of what it is trying to accomplish.
3009629147
·5 lat temu·discuss
That is true, but the Bretton Woods agreement (which the United States signed in 1944) and subsequent System featured a gold standard.
3009629147
·5 lat temu·discuss
Please note: most (±95%) of the U.S. money supply is not created by the Federal Reserve, but by the U.S. commercial banks as deposits when they make loans. [1] Alternatively you can read the Bank of England report on Money creation. [2] It's about the British economy but goes into further detail and the monetary principles are the same in every modern country.

[1] https://www.kreditordnung.info/docs/S_and_P__Repeat_After_Me...

[2] https://www.bankofengland.co.uk/quarterly-bulletin/2014/q1/m...