cm on Nostr: 1. The specific laws that prevent the US govt from doing X or Y with money. For ...
1. The specific laws that prevent the US govt from doing X or Y with money. For example, the Treasury can’t sell a bond directly to the Fed.
2. The exact mechanics of financing deficit spending with QE. The Treasury sells bonds and the Fed prints bank reserves, but I want to know more about how the reserves purchase the bonds via the commercial banks.
3. Please remove all references to “out of thin air.”
4. A list of the things individuals can do/own vs. a commercial bank (eg I can’t own a bank reserve).
2. The exact mechanics of financing deficit spending with QE. The Treasury sells bonds and the Fed prints bank reserves, but I want to know more about how the reserves purchase the bonds via the commercial banks.
3. Please remove all references to “out of thin air.”
4. A list of the things individuals can do/own vs. a commercial bank (eg I can’t own a bank reserve).