[LMB] OT: Governor’s Orders

Damien Sullivan phoenix at mindstalk.net
Thu Nov 19 19:20:52 GMT 2020


> > It can print more currency.  It cannot create money.
> > 
> > But ah, I forgot - this listserv doesn't believe in things like economics.

Whereas you seem to "believe" economics but not actually know it.

One could make a distinction between physical currency, produced in the
US by the Treasury, and the more abstract money supply, controlled by
the Federal Reserve. The government can create currency and money, and
the latter is much more important.  Stocks rise and fall on whether the
government decides to expand or contract the money supply.

-xx- Damien X-)


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