3 ms·
the fed never promised they were backed by cash
by jazzyjackson 4y ago
the fed never promised they were backed by cash
- onlyrealcuzzo 4y agoAlso, the Fed doesn't print money to buy coke in hookers. It prints money so the US government can use it (you can argue to what degree that is waste). But the Fed's balance sheet is solid and highly liquid.