“Chmn. Bernanke: When we buy securities from a private citizen, we create a deposit in their bank, and it shows up as reserves. So if you look up our balance sheet, our balance sheet balances. We have Treasury securities on the asset side. On the liability side we have either cash or reserves at banks, and on the margin that’s what has been building up as excess reserves at banks. Rep. Rothfus: You create the reserves? Chmn. Bernanke: Yes. Rep. Rothfus: Is that printing money? Chmn. Bernanke: Not literally.”
http://www.economicpolicyjournal.com/2013/07/bernanke-im-clueless-about-gold.html
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
Cops Ordered to Return $1+ Million Seized From Innocent Woman
Facial recognition will identify people whose faces are covered
Dec. 20, 1983: Rumsfeld shakes hands with Saddam Hussein
'Each time police shut Pirate Bay, we’ll multiply other servers'
US to spend $1 trillion on nuclear arms in 30 years: Report
Pentagon Paying ISIS-Linked 'Rebels' $400 per Month to 'Eventually' Fight Assad
Australian Police Hide Speed Cameras For 'Safety'
Patients’ advocates ask Supreme Court to decide medical value of marijuana
MtGox Subpoenaed By U.S. Prosecutor
Inside Oklahoma’s Quest To Dominate The American Drone Industry
Russian legislators introduce bill to take children away from LGBT parents
DEA Agents Sold Opioids, Stole Cash, and Falsely Identified Drug Suspects
Roger Ver, Bitcoin Angel Investor, Talks About The Bitcoin Revolution
Don’t Expand the Computer Fraud and Abuse Act: Destroy It!
First Time On Record: The US Government Is 'Riskier' Than US Banks