In fiscal 2020, the U.S. government ran a $3.1 trillion budget deficit. And the Federal Reserve monetized nearly that entire amount.
Without the Fed, the U.S. government wouldn’t be able to borrow and spend at this extraordinary rate. This is precisely why we need sound money.
For Further Reading
Fed Shifts Inflation Policy to Steal More of Your Wealth
The Federal Reserve: The Engine that Drives the Powerful Government in History
Trump 2020 Deficit More Than Doubles Obama’s Previous Record
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