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These are bank notes so they are a liability of the fed. Them holding them doesn't mean they have more money, they just have less liability.
by hgomersall 1y ago
These are bank notes so they are a liability of the fed. Them holding them doesn't mean they have more money, they just have less liability.
- deepsun 1y agoYep. Imagine if they put those banknotes through decommissioning, but didn't actually destroy them. Some day they would put it out (or get it stolen), and now there's unaccounted (counterfeit?) cash in circulation. Better to keep it real.