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Central Banks

When you or I write a check there must be sufficient funds in out account to cover the check, but when the Federal Reserve writes a check there is no bank deposit on which that check is drawn. When the Federal Reserve writes a check, it is creating money - Boston Federal Reserve Bank

It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning - Henry Ford

The process by which banks create money is so simple that the mind is repelled - John Kenneth Galbraith

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