Populism

Doug Henwood dhenwood at panix.com
Sun Aug 26 13:17:04 PDT 2001


Max Sawicky wrote:


>Then there is the interesting link between
>money creation and debt that Forstater talked
>about. If the Feds can sell bonds, there is
>fundamentally no distinction between it and
>the Fed.

The USG sells bonds; like a corporation, it's tapping the capital markets for money it will owe back. The Fed buys bonds, using money created out of thin air. Big diff, I'd say.

Doug



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