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To: LindyBill who wrote (391466)11/5/2010 4:54:02 PM
From: ManyMoose  Respond to of 794356
 
I confess, I do not understand monetary policy AT ALL. All I know is I can't spend more than my income without borrowing more money, since I can't print it and I don't have a gold mine.

If I had a gold mine or an oil well I could create genuine wealth out of nothing. The closest thing I ever came to it was trapping marten in the high country.



To: LindyBill who wrote (391466)11/5/2010 5:28:42 PM
From: skinowski  Read Replies (3) | Respond to of 794356
 
No money is being "printed." It's strictly bookkeeping entries. The Banks change from holding bonds to holding a cash balance

Question - Where does the Fed get the money to buy those bonds? That's where the act of Creation occurs... :)

Money appears where there was none - and it travels to someone else's account.


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