Post by Erstwhile on May 4, 2024 21:11:27 GMT -6
supposedly in charge of the nation's financial situation for the White House ? He actually said that there is no financial risk with Biden allotting any amount of funds he wants too, because the Government can just print more money if they need it. What school did he protest his way through? Federal Reserve is the Nation's Bank and all banking eventually feeds through it. Treasury is in charge of printing our paper money based on the amount of physical paper money that is needed to be distributed to every Mom and Pop bank on every street corner in America and World. But that paper money is just a sidetrack of what Federal Reserve keeps up with; nothing kin to total approved funds. Treasury can't print what Fed doesn't okay and bookkeep. Every local bank no matter how big or small eventually goes through Fed and can choose to be a Fed member or not. The local banks can choose to be chartered by OCC and be National banks or Chartered by States and be supervised by State authorities, but eventually the books are kept by the Fed. FDIC sits off to the side and serves as an insurance company for all banks and is responsible for assuring safety and soundness of all banks regardless of the charter. FDIC also serves as a national pain in the ass, but that's another story.
Yes you idiot, any one can print paper money, but they call it counterfeit without Fed okay.
Yes you idiot, any one can print paper money, but they call it counterfeit without Fed okay.
