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Message Subject
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Good economic news for Obama? Some conservatives insist it can't possibly be true
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smilesun |
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Great economic news. Op, you should add a link about QE3. That would be a hoot, wouldn't it?
Quoting: Anonymous Coward 25023973 My career in the financial markets began as a so-called "Fed Watcher" in 1979. My job evolved into analyzing Federal Reserve (Fed) actions and what they meant for the money markets and the economy. I was fortunate enough to enjoy some success and was asked on a number of occasions to give speeches on how the Fed operates. One aspect of my standard speech was to explain how money supply is created. I explained that money supply, as defined, consists primarily of credit and not paper money - and that credit creation is the result of private banks making loans. I typically added that, in the US, the government does not increase money supply by engaging in simply printing money or buying debt. That is anathema to central bankers and a policy only for desperate undeveloped countries. Until now. Suddenly, the Federal Reserve Bank of the US is engaging in action I never thought I would see in this country. [ link to www.briefing.com]
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