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they also create wealth by investing in new services. Money creates money, it's not a scarcity resource
by maneesh 9y ago
they also create wealth by investing in new services.
Money creates money, it's not a scarcity resource
- fmoney 9y ago> Money creates money, it's not a scarcity resource Feds create money, in the US. > they also create wealth by investing in new services. Wealth for themselves? Wow, isn't that great for me?
- partycoder 9y agoTechnically speaking, it is the Bureau of Engraving and Printing from the Department of the Treasury creates the one executing the order of creating the physical currency. The Fed helps determining the money supply and distributing the resulting money (please correct me if I am wrong here). However that's just the physical money. In practice, because of fractional reserve banking, banks create money by being allowed to loan more money than they have in their vaults.