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If you want to compare apple to oranges, then you would need to be able to print money from thin air in order to be consistent in your metaphor where you are th
by ipnon 7y ago
If you want to compare apple to oranges, then you would need to be able to print money from thin air in order to be consistent in your metaphor where you are the Federal Reserve and your friend is a cohort of "financial institutions providing high-quality collateral" in exchange.
Personal finance and monetary policy are not similar even though they both involve money. Money in your bank account is not the same as money in the Federal Reserve or even money printed at a mint.
- mamon 7y ago>> Personal finance and monetary policy are not similar even though they both involve money. That's what central banks want you to believe: that what they are doing is something special, "God's work" - as some drunk Goldman Sachs executive put it. Truth is: law of economics are pretty much like laws of physics - they work the same in small and large scale. It is no coincidence that Great Depression happened in 1929, mere 16 years after FED was created - that was just a first of many consequences of central bank's irresponsible actions.