C.S.Burner 🪙➡️🔥 on Nostr: Nice text, good explanation. One issue: Not only FED can print money to buy goverment ...

Nice text, good explanation. One issue: Not only FED can print money to buy goverment bonds, every bank can. Government gives bond (bank's asset), bank writes bond amount on government account at the bank (bank's liability). New money created, which was not there before. That happens now with fiscal dominance. FED only comes in for liquidity issues and has only indirect influence on this kind of money printing..