The Fed is Paying Too-Big-To-Fail Banks to Fund Govt Deficits with its Newly-Printed Dollars

What happened to those trillions of dollars the Federal Reserve printed during the financial crisis? Why aren’t they causing mass inflation? Robert Murphy of has an answer. Banks are using them to buy US government bonds. Gonzalo Lira explains this in Stealth Monetization. Has the federal state captured the printing presses? It seems that […]