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Pastimes : Kosovo
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To: Jacalyn Deaner who wrote (2462)4/7/1999 3:01:00 PM
From: nihil  Read Replies (1) of 17770
 
OT -- monetary policy

Another astounding fantasy. Everyone (except Jacalyn) knows that the Treasury does not create or print money. The money supply (M1) is produced by the Federal Reserve System headed by Alan Greenspan. Greenspan and his chums are responsible for the money supply, no one else. The Treasury or Administration cannot influence the money supply except by appointing members of the Board of Governors of the Federal Reserve. If money supply should get out of control (no sign of it so far) the people who should be hanged are the Open Market Committee of the Federal Reserve System.
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