Democratic (/socialist/fascist) President Carter signs the Humphrey-Hawkins Full Employment and Balanced Growth Act, requiring the Federal Reserve Board of Governors (a Federal agency that oversees the privately-owned Federal Reserve System of (central) Banks) to coordinate its monetary policy with the economic policy of the president.  The act also establishes the goals of a jobless and inflation (depreciation of the Federal Reserve Note (a Bill of Credit)) rates of no more than 4% by 1983, and a 1988 inflation rate of 0%.

       Postscript: The inflation rate target for 1983—as claimed by the Bureau of Labor Statistics—was barely met at 3.8%.  But the other two targets were missed “by a mile”: joblessness for 1983 was 9.7% and inflation for 1988 was 4.4%.

       NOTES:

• All BLS statistics are suspect, as they are deliberately misreported for the purposes of political expediency.  For more on this please visit the home page for “Shadow Government Statistics.”
• The only proven way in human history to keep inflation and joblessness low has been to maintain an honest, lawful system of commodity-based (i.e. gold and/or silver) money.  Every paper money system in history has eventually collapsed, as the current one will also.

       [restored 11/20/2022]