what a deceptive delusional sob you must be to try and distract from the truth like that. you even denied the FED can create money at will.
The Federal Reserve bank no longer even reports M3 so we certainly don't know how much money it creates.
Piezoe is trying to hide a simple central bank fact. The FED Reserve creates and destroys money as it desires. It can and has deposited money in its member banks with a press of a key. It has created trillions. And only some of the trillions are reported.
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as a stalinist libertarian big govt and bank loving lefty you take NPR seriously right piezoe.
http://www.npr.org/2016/04/29/47620...-creates-huge-profits-for-the-federal-reserve
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GAGNON: It is the Fed's job to create money or to extinguish it as it sees fit. So it can literally create it out of nothing.
KESTENBAUM: After the financial crisis, the Fed decided to create a lot of money to try to get the economy going again. It created over $3 trillion dollars, basically by tapping some keys on a computer, poof. To get all that money out into the economy, it bought some boring bonds.
The Fed gives the dollars to whoever owns the bonds and the Fed takes the bonds. It bought mortgage bonds, a lot of government bonds, a huge pile of bonds worth over $3 trillion dollars. And bonds pay interest. That is where the $100 billion in profit came from. The Fed wasn't trying to make a profit, but in managing the amount of money in the economy, it did.
Now, if I were running the Fed, and I had $100 billion in profit to contribute to the rest the government, there would be a big ceremony with an oversized paper check, a one with 11 zeros after it. But I'm not running the Fed.
GAGNON: No, these things are all electronic these days. And it's - treasury bonds don't exist except as, you know, entries and memory chips or whatever in computers.
KESTENBAUM: That's so weird.
GAGNON: Yeah.
KESTENBAUM: Weirder for me is the question of where this $100 billion is coming from. Like, in a deep sense, whose pocket does it come from? Traditionally, Gagnon says, the answer would be that it comes from all of our pockets because when you create as much money as the Fed did, you get a bit of inflation, making every dollar in your pocket or bank account worth a little less. But the government tracks inflation. It goes out and measures it. And we have almost no inflation right now.
GAGNON: We're just in a really weird time where massive amounts of money creation are not causing inflation. It's almost - it is unprecedented, to my understanding of economic history. This has never really happened before.
KESTENBAUM: So $100 billion that will be spent on the military and scientific research and roads this year came basically from nowhere. That's the best answer I can give you. David Kestenbaum, NPR News.