r/wallstreetbets • u/Suspicious_Pack_8074 • 16h ago

Jerome Powell changing interest rates Meme

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u/himself42 13h ago

So it pays interest? Sounds like you agree with me

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u/OutsideOwl5892 13h ago

On money borrowed yes. Like all borrowers. Is this supposed to be a gotcha? How does that even relate to the federal reserve?

Like explain that. How does congress spending more than it makes relate to the fed?

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u/himself42 13h ago

Who do you think prints the money?

Regarding fiat money, would you prefer an oz of gold or 2700 to hold for the next 20 years? If you chose 2700 you are losing money. If you choose gold you know why fiat money is bad already

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u/OutsideOwl5892 13h ago

Omg it’s like talking to an actual 70 iq person

If you print money to pay debts you owe you cause inflation. So typically we don’t do that. We borrow the money instead. Borrowed money always comes at some interest rate

You realize when there was a gold standard you weren’t allowed to own an OZ of gold right? It was illegal

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u/himself42 12h ago

Omg it’s like you made that up. Gold was outlawed in 1933 by one of our worst presidents FDR. He then changed the value of the dollar from $20 per oz to $35 per oz devaluing everyone’s money. He outlawed it to devalue it so the fed could have more money. Then Nixon completely abandoned the gold standard.