Why Print Money?

Andrew Coyne:

They are probably right. It is telling that neither Obama nor his Republican opponent has offered much of a plan to spur the economy, at least in the short term. So far as anyone has any short-term impact on the economy, it is the Federal Reserve, and even it is limited in what it can do. As it has been said, the Fed can print money, but it can’t print jobs. [Emphasis added.]

Well, if all the fed can really do is add to the stock of currency (well, that and not enforce regulations), then pray tell what, exactly, is the point of having it?  If it’s not going to do anything save debase the currency and in so doing ensure that banksters get first dibs on the redistribution that inevitably accompanies each round of inflation, then why have a central bank?  Oh, wait…

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