The truth is out: money is just an IOU, and the banks are rolling in it (the guardian)
Back in the 1930s, Henry Ford is supposed to have remarked that it was a good thing that most Americans didn't know how banking really works, because if they did, "there'd be a revolution before tomorrow morning".
Last week, something remarkable happe
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Does the U.S. have a central bank? Yes, it is the Federal Reserve System (FRS), because it prints money and set interest rates. Can I call the Fed a central bank? No, because it is a private institution that is not subordinate to the stat