Sunday, July 13, 2025

All of monetary policy is "magic money"

 

The Federal Reserve regulates the monetary supply through debt. The only difference between that and printing greenbacks is you have to pay money for the debt, and the greenbacks cost almost nothing. It's magic money in any case. The "full faith and credit" of the USA backs it up, and the world takes the dollars gladly. But that may be changing, because Congress won't control the pork.



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