Ok I am reading "End The Fed" and I want to complety understand what is going on here. I have a general idea but I want to know what I am talking about when debating or disscusing with someone.
I am trying better understand why we can't just print money. What backs up our money and why is it bad just to keep printing it. Sounds crazy I know lol
It says the Fed can print money based on 3 things. Open market operations, reserve ratios, and messing with the inerest rates.
So I am trying to get a better understanding of what all that means.
The Cental banks lie about how much money they have on hand, make bad deals and loans with the money they so called have on hand and then mess with the intrest rates and lie about thoes? Am I hitting in the right area? Thanks for any help.