eternitus

Free Lunch for Bernanke and Paulson

Question... if we can simply create money out of thin air, then does it really have any value at all? This is the question that has undermined every fiat monetary system ever devised.

Sadly, I'm beginning to doubt that there is any recourse. Even sadder... why as a bank would I care about underwriting standards if the government can print money at any time and bail me out when loans turn sour?