Re:The Invention of Money
by yellowstuff on Tuesday August 06, 2019 @10:24AM
(#20625402)
This is a close competitor:
> For those who don't know how the Fed works: technically, there are a series of stages. Generally the Treasury puts out bonds to the public, and the Fed buys them back. The Fed then loans the money thus created to other banks at a special low rate of interest ('the prime rate')...
> For those who don't know how the Fed works: technically, there are a series of stages. Generally the Treasury puts out bonds to the public, and the Fed buys them back. The Fed then loans the money thus created to other banks at a special low rate of interest ('the prime rate')...
Also from "Debt, The First 5000 Years".