If the American people ever realized that the Federal Reserve creates our entire monetary base by issuing loans, at interest, to the federal government, there would be a revolt. Especially if they found out that the Federal Reserve is just typing this new debt money into existence on a computer.
So by printing Federal Reserve notes to purchase bond...Oooo, a new American Idol is on soon. Will Paula return as a judge? < /massive cynicism about the American populous>
In 96 years the only thing the Fed has done is wipe out over 95% of the value of the dollar. Just a little more than 4 to go. Can they hit it by their 100th birthday?