Carol Roth

We're going to see them do the same thing and we're going to see them continue to print money and we're going to see them continue to suppress the interest rates.

And it's going to do the same thing that it's done.

It is going to continue to devalue your dollars and

your take away your purchasing power from the labor that you've put out from the investments you've made.

And we're going to continue to see this widening of the haves and have nots, which is not a good thing for our country.

And it's one of the reasons why, you know, over the past, you know, several years, I've told people to hedge themselves with precious metals like gold so that they can at least keep some of that purchasing power intact.

while we have this broader scenario going on.

That was a very long answer to your question.

Well, first of all, I'd just like to point out if any of us went into our bank accounts and added a bunch of zeros and went out and used that money to buy things, even treasuries, they would call it fraud.

When the Fed does it, they call it monetary policy.

So just putting it out there.

Yeah, the whole thing is a bit of a head scratcher.

I think if we've seen how dysfunctional Congress is, the executive branch, the fact that we have no continuity in our government to the extent that we want somebody to have the Fed powers.

you wouldn't want it to be the government you'd want it to be an entity that at least has some idea of what's going on financially and is not entirely political i'm not saying that they're not political i'm just saying entirely like you wouldn't want you know the congressman from you know like i'll just pick myself like you know like the house representative from my district in illinois who's like 87 years old to be like in charge of monetary policy it's insane

Now, we have to go back and say, OK, what is it that the Fed does?

You know, there's the given mandate from Congress, which is stable prices, which obviously they've failed miserably at, and stable employment.

And I will just argue that kind of based on where we are fiscally, that their tools kind of don't matter that much in either of the places.

You have somebody who is supposed to help control the money supply because as there's more productivity, there has to be decisions on how much more of those claims get out into the market.

Many economists, including Milton Friedman, had something called the K percent rule, which is basically you just tie the increase in the money supply rule.

to a metric that makes sense, whether it's the GDP or some other metric for growth.