4 ms·
This all seems a bit confusing and the article didn't help clear things up. Did we actually give the Fed $2 trillion to loan or did they just create the money?
by anthonyrubin 18y ago
This all seems a bit confusing and the article didn't help clear things up. Did we actually give the Fed $2 trillion to loan or did they just create the money?
- gills 18y agoAs clear as I can make it: "Taxation Without Representation." The Fed creates money when they make loans. Taxpayers are liable (in the event of default) to cover the gap between collateral value and principal. As guarantors of this debt, taxpayers should know what the collateral is.
- chaostheory 18y agowe gave the fed reserve the power to grab 700 billion "at any given time" - which is essentially unlimited money from the treasury like I said before, even the 'modified' bailout the Democrats proposed had no real transparency requirements; the only real difference is a ton of added earmarks