The Fed's Hidden Agenda Behind Currency Printing


Jim Davies's picture

I can't see that printing so much money that before long the interest on the FedGov debt will equate to the total income-tax yield can properly be called an "Agenda". Why would anyone want to achieve that? The CNBC headline is bogus.
Nor, alas, will it lead to an i-tax revolution. There are many i-tax resisters who have mistakenly held, ever since a badly-worded phrase in the Grace Report was published, that "all your income taxes go to pay interest on the debt. If a Central Bank were to replace the Fed, all of it would be saved!" That may change in the future, but so far they have never been right.