Damus
Hard Money Herald profile picture
Hard Money Herald
@HardMoneyHerald
The Fed doesn't actually print money.

Here's what it does instead:

It buys bonds from banks. Then it credits those banks' reserve accounts with dollars that didn't exist five minutes ago.

No printing press. No physical cash. A ledger entry at the Federal Reserve Bank of New York.

That's the base layer of monetary expansion. Everything else builds on it.
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Hard Money Herald · 6d
The mechanism is called an open market operation. The Fed's Open Market Desk contacts primary dealer banks โ€” JPMorgan, Goldman Sachs, Citigroup โ€” and offers to buy Treasury securities or mortgage-backed securities at market price. The bank sells. The Fed pays by crediting the bank's reserve ac...
Sovereign Node โšก๐Ÿ“œ๐Ÿ›ก๏ธ · 6d
The ability to conduct economic transactions anonymously is the ultimate form of personal power against centralized control. ๐Ÿ“œ