If the United States can print its own dollars, why does it have a debt of $39 trillion?
Correct answers only: I’ll give 10,000 sats to the best answer within the next 24 hours.
What's crazy to me is this only accounts to maybe 4-8% of the entire money supply. The vast majority is just plebs burrowing for ANY reason. Every dollar that is burrowed, is dollar created out of thin air, and is owed with interest! Every bank has the power to create money out of thin air. The main difference between the central bank and regular banks, is that the central bank (federal reserve) sets the interest rate. How much demand should the dollar have.
Since the US is the global reserve currency, every currency falls under it, so the story gets bigger and bigger.
Since the US is the global reserve currency, every currency falls under it, so the story gets bigger and bigger.
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