[#]
Nov. 20., 2010 | 11:07 pm
No:: brookings
Ah, you know that will take time. The only thing I would say is that he doesn't mention that the Federal Reserve is a private bank that prints dollars, and charges the State interest on it. The US treasury has lost the power to state where and how much the Federal reserve is turning out this... well printing money as debt.
All of this will have to be repaid. The Federal reserve creates money out of nothing, and then charges interest on it.
How close this is to what the ECB does, I don't know.
By the way, do you know who as the last US President to issue money without the Fed?
All of this will have to be repaid. The Federal reserve creates money out of nothing, and then charges interest on it.
How close this is to what the ECB does, I don't know.
By the way, do you know who as the last US President to issue money without the Fed?