Nor do you .. Archived Message Posted by Shyaku on May 13, 2024, 6:12 pm, in reply to "It seems like he doesn't know what he is talking about .." (1) A consortium of private banks called “the fed” creates the money in the economy and releases it into the economy as debt. So these banks control the amount of money in the economy overall, and earn interest on essentially all the money in the economy (2) Government revenues (a separate thing) come from taxation. (3) Where government expenditure exceeds the amount raised via taxation (it always does), the government also borrows the difference from whoever purchases government bonds. - Simples! :-) - Shyaku Message Thread: Chair of the Council of Economic Advisors... - Ken Waldron May 12, 2024, 12:22 am It seems like he doesn't know what he is talking about .. - t May 12, 2024, 12:29 am That's for sure... - Ken Waldron May 12, 2024, 1:02 am I think you put that rather well .. - t May 12, 2024, 1:18 am Nor do you .. - Shyaku May 13, 2024, 6:12 pm   Searching