Without the Fed as buyer of U.S. bonds, and always the implied Backstop if the Primary Dealers can't directly fill their Obligations, and always read to lend money to the Primary Dealers and Foreign Banks to keep the churn machine running, without the Fed at the ready to click new (counterfeited) doll…
Without the Fed as buyer of U.S. bonds, and always the implied Backstop if the Primary Dealers can't directly fill their Obligations, and always read to lend money to the Primary Dealers and Foreign Banks to keep the churn machine running, without the Fed at the ready to click new (counterfeited) dollars into existence, then the U.S. Government would have to live within their means.
But, you are correct about 1 important thing. The U.S. Government created the Federal Reserve Monster, for the Private New York Banks, in 1913, and now the Fed heavily feeds these Private Banks, Foreign Policy and Military Adventures.
While...sort of splitting hairs...but
Without the Fed as buyer of U.S. bonds, and always the implied Backstop if the Primary Dealers can't directly fill their Obligations, and always read to lend money to the Primary Dealers and Foreign Banks to keep the churn machine running, without the Fed at the ready to click new (counterfeited) dollars into existence, then the U.S. Government would have to live within their means.
But, you are correct about 1 important thing. The U.S. Government created the Federal Reserve Monster, for the Private New York Banks, in 1913, and now the Fed heavily feeds these Private Banks, Foreign Policy and Military Adventures.