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Wouldn't this mean that FED, which already has the control over the money supply, can now go and buy companies with the money it creates ? If you define FED as
by rubber_duck 7y ago
Wouldn't this mean that FED, which already has the control over the money supply, can now go and buy companies with the money it creates ?
If you define FED as a private entity - this sounds like theft.
If you define it as a part of the government then you are transitioning to socialism (government ownership of means of production).
Neither of these sounds like something that would be acceptable in the US political system - am I missing something here ?
- akmarinov 7y agoIt's not socialism if the poor unwashed people don't get anything for free. /s
- deleted 7y ago[deleted]
- Anon1096 7y agoThe Fed doesn't control the money supply. That's the job of the Treasury.
- davidgh 7y agoBy controlling the amount of loans made to banks, the Fed controls the money supply. Money is created out of thin air (without a printing press) by issuing new loans, which is what the Fed does.