What’s the difference between $100 in cash and $100 in a checking account?
It goes into its computer and marks up your checking account by whatever amount you borrowed.
Congress creates money from thin air by deficit spending and the Federal Reserve creates it by buying bonds.
The more you think about money, the weirder it starts to feel.
The government’s money used to be backed by real stuff like gold and silver.
Persons:
Banks
Organizations:
Federal
Locations:
United States