e$ Signorage
Alan Horowitz
alanh at mailhost.infi.net
Mon Apr 8 02:41:46 PDT 1996
> Date: Sun, 07 Apr 1996 12:20:11 -0400
> From: Perry E. Metzger <perry at piermont.com>
>
> whatever makes no difference to the amount of fake interest earned. I
> say "fake interest" because it isn't real income to the government at
> all.
When the Fed buys government bonds, the interest income goes to the
owners of the Federal Reserve Bank. The Federal Resreve Bank is _not_ a
government agency - it is privately owned by the member banks..
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