The other day in his market commentary, Franklin Sanders was lamenting the Federal Reserve’s destruction of the economy. He wrote,
Wow, the Fed’s discount rate increase really did turn out to be a mouse-burp. They hiked it by half a percent to a 4.25% – 4.5% range, highest since 2007, and so far this year have raised rate 4.25%. Still, Head Fed Criminal Jaybird Powell says they will keep hiking rates — I reckon till they completely ruin the economy and put everybody in the poorhouse.
Market Commentary, Wednesday, 14 December a.d. 2022
So I wrote Franklin a brief question, “What would your solution be to stop the inflation and not send the country into the poor house?”
Franklin replied, “I’d make silver and gold legal tender and give folks 12 months to turn in their Federal Reserve notes.”