[Lurker]

What did the Treasury create when the Fed bought all that commercial paper

Worthless paper. Next question.

How much interest does the Fed owe every year on those FRNs?

None.

What do I win?

[Toddsterpatriot]

When you write a check to pay your phone bill, how do you think the money leaves your account and gets into the phone company account?

If a bank in New York wires money to a bank in California, how do you think the money changes hands?