[O]nce the bankers acquired the privilege to create money out of nothing, they needed intellectual cover. They needed a group of intellectuals who would explain to the public that allowing them to print money was for the benefit of the whole society. They found a couple of sycophants, William Trufant Foster and Waddill Catchings, who argued that paper money was the "road to plenty" for a society. Foster and Catchings were considered crackpots by the economists of the day. Then Keynes entered the scene and put a little twist on the Foster and Catchings theory. He called it progressive and liberal. A collection of hacks and frauds then jumped on the Keynesian ship and are known as the economists of the mid-20th century.This is why VIRTUALLY EVERYTHING YOU HAVE BEEN TAUGHT IS A LIE. And all the authority figures to whom you look are charlatans or ignoramuses.
The dollar has lost more than 95% of its value since the Fed was created in 1913. Economists and politicians have been lying to us since then and too many have believed them.
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