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Cheezoholic

(4,023 posts)
4. Ok, never been able to fully wrap my head around the Fed's "magic money" abilities...
Thu Nov 19, 2020, 09:38 PM
Nov 2020

and I'm probably wrong here but, didn't the Treasury authorize the Fed, via Congress/Cares Act, to do their "make money appear" trick to fund these programs, with no limits I believe, so far to the tune of 3 to 4 trillion dollars (some estimates have been as high as 7-9 trillion not including the 3 trillion Congress appropriated) all for the programs listed above to keep the cash river of nearly 0% credit flowing? Always confusing to me but from my not educated opinion it sounds like the Treasury is pulling a grift on the fed at the expense of the tax payer without congressional approval of funds. Could this be a sign of what's coming up in the budget debates? Like, ain't gonna have one? I don't know, Fed crap confuses me.

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