Tim Knowles
Aug 8, 2017 · 1 min read

While I admit I am a novice, at least I know what I know and don’t know. There are many errors in your response.

Both of your first two sentences are in error. You said “Sorry Charlie, but you have it all wrong. The Fed can not create currency, as that is the sole purview of Congress.” I don’t have it all wrong and I did not say the Fed creates currency, I said the Fed creates Money. They can loan money into existence that is what they did with QE, bought bonds with money they created out of nothing. Money not currency, numbers in ledgers.

See above the difference between Money and Currency. See also the affects of QE on M1 and M2 with no affect on currency.

Your confusion over currency and money makes much of the rest of your response flawed.

TEK

    Tim Knowles

    Written by

    Worked in our nations space programs for more than 35 years

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