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There’s no such thing as easy money

My take on the big story of 2022 won’t get many hearts pounding. The big story of 2022 will be that curious private bank that controls the money supply in the United States. Yes, the Federal Reserve is the one to watch. Here's a touch of context.

What the Federal Reserve has been doing in recent years is the biggest story flying under the radar of mainstream media. The 'Fed' has made a massive intervention into the U.S. economy, without precedent in the country’s history. As reported in Politico, in the six years between 2008 (the year of the financial crisis/recession), and 2014, the Fed printed $3.5-trillion in new treasury bills—nearly triple the amount it had created in the first 95 years of its existence, writes Michael Harris. Photograph courtesy of Commons Wikimedia

BY MICHAEL HARRIS

December 29, 2021

HALIFAX—This is the season when the Commentariat holds the usual seance: looking into their crystal balls, and flagging the things to watch in 2022.

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