Hm, certainly bordering on politics, but also certainly intellectually interesting. Personally, I am undecided about this argument, here's how I see it:

Most people acquire wealth by creating value. Yet there are some institutions which control the money supply itself - and can hence create enormous amounts of wealth without creating value. Without extraordinary stretches of logic or definitions, it can be deduced that "most people" are slaves to those controlling the institutions with such powers. On the other hand, a constant money supply isn't a viable economic solution, either.

IMO, this just shows that macro-economics is still a mostly unsolved problem, and we are nowhere near the optimal solution.

The Federal Reserve was created by the wealthy class to keep money in the hands of the few. Read 'The Creature from Jekyll Island'. The Fed is a sham. It is neither federal (the shareholders are the banks themselves) nor has it any reserves.

I'm a few paragraphs in and I'm already crushed under the weight of the author's histrionics. This article is crap and belongs on a site like Digg, not HN.

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