Powell tells 60 Minutes ‘we print it [money] digitally’

CBS News 60 Minutes/Scott Pelley interview of Jerome Powell

Image of old-fashioned printing press“Scott Pelley: Where does it come from? Do you just print it?

Jerome Powell: We print it digitally. So we – you know, we – as a central bank, we have the ability to create money digitally and we do that by buying Treasury Bills or bonds or other government guaranteed securities. And that actually increases the money supply. We also print actual currency and we distribute that through the Federal Reserve banks.”

USAGOLD note: And that is why investors buy it [gold] physically – in the form of coins and bullion.

Repost from 5-18-2020

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