This is a close competitor: > For those who don't know how the Fed works: technically, there are a series of stages. Generally the Treasury puts out bonds to t

This is a close competitor: > For those who don't know how the Fed works: technically, there are a series of stages. Generally the Treasury puts out bonds to the public, and the Fed buys them back. The Fed then loans the money thus created to other banks at a special low rate of interest ('the prime rate')... Also from "Debt, The First 5000 Years".