Money doesn't get its value from the Fed. It gets its value from what economists call real goods and services. If nobody was willing to exchange their work prod

Money doesn't get its value from the Fed. It gets its value from what economists call real goods and services. If nobody was willing to exchange their work product for our money, it would be virtually worthless. So when the Fed electronically debits and credits their account with newly created money and a new purchase of a toxic asset, they're necessarily stealing someone else's (everyone else's, really) work product, in real terms.