8 ms·
We already let banks print money. What's another $83 billion?
by chrismealy 14y ago
We already let banks print money. What's another $83 billion?
- Aloisius 14y agoDoesn't the Bureau of Engraving and Printing (part of the Treasury) print money?
- dvdt 14y agoIn practice the Federal Reserve "prints" money when it purchases Treasury Bonds. Where does the Fed get the money from? That's the whole point--the Fed is able to create money out of thin air.
- jakerocheleau 14y agoI have seen this argument countless times but the BEP just gives money to the Fed. It's pathetic. From Wikipedia: > The Bureau of Engraving and Printing (BEP) is a government agency within the United States Department of the Treasury that designs and produces a variety of security products for the United States government, most notable of which is paper currency for the Federal Reserve.[1] [1] http://en.wikipedia.org/wiki/Bureau_of_Engraving_and_Printing http://en.wikipedia.org/wiki/Bureau_of_Engraving_and_Printin...
- Aloisius 14y agoNone of the banks talked about in this article can make money. Only the Federal Reserve Banks can. Equating one of the non-profit, tax-exempt Federal Reserve banks which are controlled by the Federal Government, but "owned" by member banks with a consumer finance bank is ridiculous. Heck this article is talking about subsidized bank borrowing costs. The Federal Reserve Banks have zero borrowing costs!