I don’t know if there is a textbook on how to create fiat money but the latest statement by the Federal Reserve New York is at least a good attempt. I allow myself to fill in some of the gaps, trying to explain what really happens and who will make the most money. If your guess is the Fed, you have just won a free subscription to this blog.In an effort to explain the Fedization of Bear Stearns the Fed NY put out another release in order to clarify such details as the actual cost of financing to JP Morgan after earl[...]
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[Source: The Money Blogs]
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