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California can't print more money, the Fed can.
by mperham 6y ago
California can't print more money, the Fed can.
- CWuestefeld 6y agoThe GOP has no power over the Fed, either.
- dragonwriter 6y ago> The GOP has no power over the Fed, either. The Fed Board are Presidential appointees and currently the board has four GOP members and one Democrat. The GOP controls the Fed.
- dragonwriter 6y agoMore to the point, California (both Constitutionally, and practically because of the market effect of being the issuer of the debt-denominating currency) borrow as freely and cheaply as the federal government.