This shows why there is so much confusion where there should be none.
An act of printing has nothing to do with money supply numbers, especially
broad money, which includes debt. It's an act of creating $85,000,000,000,000
balance where there was none by keyboard strike and nothing else.
The act finds it's way into money supply numbers (M0,M1,M2,M3,..), but a change of
these numbers over time cannot itself give us the amount printed.
In fact, that amount is hidden fro our view, even though the definition
is amazingly simple: by magic Fed's wand there is now $1 where there was none.
When Fed "creates" $1 that way, which only the Fed can do, exactly $1 has been printed.
Resume: this guy appears to be another clueless economist, the public is 100%
Correct about the Fed printing money -g- |
