Tuesday, May 19, 2020

‘We print money digitally’ – so says the Fed — Peter May

The current Chairman of the Federal Reserve bank of the USA – otherwise known as the US Central Bank, says that Central Banks have have the ability to create money digitally … and also print actual currency.
This really could be not more obvious that this is THE MAGIC MONEY TREE that we have always been told does not exist…
Progressive Pulse
‘We print money digitally’ – so says the Fed
Peter May

5 comments:

Ralph Musgrave said...

So the Fed can print $100 bills and the Bank of England can print £10 notes. I never knew that! Thank goodness we have Peter May to inform us about this amazing development(ho ho).

Andrew Anderson said...

The problem is that the government-privileged usury cartel, aka "the banks", can create money too and much more than they could do as 100% private businesses with 100% voluntary depositors.

And guess what, the deposits the banks create are NOT for the general welfare but for their own welfare and the welfare of the most so-called "credit worthy" - typically the rich.

Kaivey said...

I've just followed them on twitter.

Matt Franko said...

LOL Ralph right it’s like a major revelation to these morons...



Ralph Musgrave said...

Andrew, I may have said this before, in which case I apologise, but you might be interested in a recent paper of mine which sets out a very simple reason against money creation by commercial banks. Google the title of the paper “The Crucial Flaw in the Bank System” and my name.

I’ve submitted a slightly longer version of that to the “Money, Macro and Finance” meeting at Cambridge, UK, due to take place in September.

https://www.mmf.ac.uk/conference/2020-conference/