>Near zero rates? Baloney. 0.25% interest is the normal market rate for such banks - but of course he doesn't actually say 0.25 he says "near zero". Note that

>Near zero rates? Baloney. 0.25% interest is the normal market rate for such banks - but of course he doesn't actually say 0.25 he says "near zero". Note that it costs the Fed nothing to make these loans. The Fed simply creates the money. To the extent that this is electronic money, there are not even printing costs associated with this money. Viewed in this light, any interest at all is too much because the money is only free for the Fed. The citizens who are taxed to pay it back with interest must work for the money.