The Fed shows it has learned nothing from history, as Fed Chairman Jerome Powell announces a new "Standing Repo Facility," in a desperate attempt to avoid nightly waves of bank defaults. This continues 50 years of insane monetary policy. On August 15th, 1971 the Bretton Woods System was ended, creating a floating exchange system, and beginning our long descent into financial and physical-economic ruin. Lyndon LaRouche is the only economist who forecast this trajectory in the 1960s, and spent his life developing the policy solutions to reverse it.
Harley Schlanger's work can be found at The LaRouche Organization and The Schiller Institute.