3 ms·
> That is factually untrue: only the Federal Reserve can legally create new money in the US That is factually untrue: Changes in the quantity of money may orig
by perfunctory 15y ago
> That is factually untrue: only the Federal Reserve can legally create new money in the US
That is factually untrue: Changes in the quantity of money may originate with actions of the Federal Reserve System (the central bank), depository institutions (principally commercial banks), or the public... The actual process of money creation takes place primarily in banks
http://en.wikisource.org/wiki/Modern_Money_Mechanics/Introduction#Who_Creates_Money.3F http://en.wikisource.org/wiki/Modern_Money_Mechanics/Introdu...