The dollar is 'backed' not only by what has already been produced, but also by what WILL be produced. This tells us how the Fed can 'create' money without 'creating' inflation. It need only direct all new money PRODUCTIVELY. 'Spread the Fed,' and we can ensure productive Fed lending.
The dollar is 'backed' not only by what has already been produced, but also by what WILL be produced. This tells us how the Fed can 'create' money without 'creating' inflation. It need only direct all new money PRODUCTIVELY. 'Spread the Fed,' and we can ensure productive Fed lending.
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