He has given the Fed unlimited power to print money to keep the stock market afloat through these times.
Is this good?
Money has no real value other than when put against the Gross National Product of the U.S. in total. It is not backed up by Gold or Silver at all. The only value it has at all is what value people give it.
On top of this most money is never even printed as green backs but is only theoretical in a computer somewhere.
So, all of this gets really esoteric when you start to study about all this.
But, the best way I can put this is by telling Powell to print unlimited money to stabilize the stock market it creates potential problems for the U.S. in relation to the world simply because our GDP is likely nothing compared to what it was in January of 2019.
So, a dollar literally is only what people of the U.S. and world believe it is.
So, it's sort of like believing in fairy tales on one level. There is no basis really in reality of what a dollar is actually worth beyond what people in general believe it's worth at all.
To the best of my ability I write about my experience of the Universe Past, Present and Future
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