The Simplest Bitcoin Book Ever Written
Scott Pelley of NBC '60 Minutes':
Fair to say you simply flooded the system with money?
Fed Chair Jerome Powell: Yes. We did. That's another way to think about it. We did.
Pelley: Where does it come from? Do you just print it?
Powell: We print it digitally. So as a central bank, we have the ability to create money digitally. And we do that by buying Treasury Bills or bonds for other government guaranteed securities. And that actually increases the money supply. We also print actual currency and we distribute that through the Federal Reserve banks.
Fed Chair Jerome Powell: Yes. We did. That's another way to think about it. We did.
Pelley: Where does it come from? Do you just print it?
Powell: We print it digitally. So as a central bank, we have the ability to create money digitally. And we do that by buying Treasury Bills or bonds for other government guaranteed securities. And that actually increases the money supply. We also print actual currency and we distribute that through the Federal Reserve banks.
~ CNBC '60 Minutes' Interview,
May 17, 2020, Two months after the onset of the C*vid-19 lockdown
There's really no limit to what we can do with these lending
programs that we have.
~ Fed Chair Jerome Powell
March 18, 2020 on CBS News
Yes, there is an infinite amount of cash in the Federal Reserve.
We will do whatever we need to do to make sure there's enough cash
in the banking system.
~ Neel Kashkari, President of the Minneapolis Fed
March 23, 2020, CBS '60 Minutes'
The 'we' here is five people voting on changes to monetary policy
within the Federal Reserve system during FOMC meetings. 5 out of
330,000,000.
~
@MartyBent
, Founder of TFTC.io
Forbes Article, March 18, 2020