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To: dennisw
Thanks, we all know the Fed can create money out of thin air.

And I know that banks cannot.

62 posted on 02/09/2014 1:10:25 PM PST by Toddsterpatriot (Science is hard. Harder if you're stupid.)
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To: Toddsterpatriot

Banks are accountable for the money they create out of thin air via loans. They cannot just “make” this money and steal it.

The Fed is not accountable. It does the real “money creation” out of thin air. And it does do a lot of stealing by hiring a huge do nothing (highly liberal and affirmative action) workforce that churns out useless studies. Plus the lavish salaries and bennies they pay themselves. The FR workforce gets paid way too generously plus the Fed is always building and upgrading office space to be suitably lavish. Billions that does not get remitted to the US Treasury


64 posted on 02/09/2014 1:35:16 PM PST by dennisw (The first principle is to find out who you are then you can achieve anything -- Buddhist monk)
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