I said this in an email written to a friend the other day. We were talking about HR1207 to audit the Federal Reserve.
Just think about it ... No matter what anyone argues about "velocity" and "elasticity" and yakety-yak, there is no magic fairy dust that can give value to a dollar printed by the Fed, anymore than there is to give value to a dollar printed by a counterfeiter. And if there does somehow, someway exist this magic fairy dust ... then everything we believe about central planning is wrong, and Marx was right. After all, the Fed is the ultimate central planner.
